The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-05-08
HIGH PRICES PREVAIL
IN ENGLISH MARKETS
Prof. Sauerbeck Cites Inter-
esting Facts.
GOOD PROSPECTS CONTINUE
Exceptional Prosperity of United States
Largely Influential in Maintaining
Satisfactory Conditions

II appears high prices are quite as
much the rule in England as in the
United States at the present time. Prof.
Sauerbeek's annual statement, Prices
of Commodities, published in the
journal of the British Royal Statisti-
cal Society. for March 81, 1903, just re
eeived by the Treasury Bureau of Sta
tistics, shows high prices in foodstuffs,
IN iron, and in textiles, during the year
1902 The statement begins with a series
of Index number" tables, showing in
dex prices for groups of articles from
1898 to 1902. The index number for the
group designated vegetable food
stands at 60 for the year 1902, against
60 in 1899, and SO in 1896; that for ami
NAL food" stands 81 in 1902, against 7
in 1888. and 10 in 1896; that for min
erals" stands at 50 in 1902 against 20
IN 1898, and g. in 1895; that for tex
tiles" stands at 81 in 1902, against 81
in 1898, and 81 in 1895; and the index
number for the group designated sun
dry materials" stands at II in 1902.
against GO in 1898. and 62 in 1897
commenting upon these figures the
statement says: Meat was dear during
the greater part of the year. and beef
ruled in June and July higher than at
any time since 1888. Scotch pig
iron rose from 49s. per ton TO 5Ss. i'd. in
September. and dropped 70 53s. Sd. at
the end of the year Flax was
higher in the summer, but lost the ad-
vance later on. Jute was dearer in the
second half Of the year; fine wool ad-
vanced 25 to 50 per cent. Silk ruled
also higher. Tallow. palm oil. and nj
trate were dearer."
Exports Somewhat Larger.
Commenting upon commercial condi-
tions, the report says; The exports
from the United Kingdom were some
what larger, which was principally due
TO- the American demand for iron and
some other commodities, and to the
greater exports TO South Africa. The
shipments on the other hand, to In
dia, Australasia, Japan and Argentina
were smaller. In Germany, Austria and
Russia the depression continued
throughout the year and France was af-
fected by coal strike in the last quar-
ter. The corn crops of the world were
large and the supply of some other COM
modities. particularly sugar, coffee and
cotton, was very heavy"
Commenting upon conditions in the
United States. the report says: "ThC
United States has again occupied az
exceptional position. If year age
fears were expressed that the state Of
affairs there was not free from danger
it must now be admitted that they were
premature, as the marvellous prosper
ity has continued undated to the pres
ent day. American securities had an
other boom, and though a reaction fol
lowed the last prices still occupy &
high level 1t is estimated that the
iron production of the States reached
the enormous total of 1900, 600 tons
and even this was insufficient for the
requirements
Prospects for Present Year. 81
Commenting upon the prospects fol-
1903, the report says: THE prospects
for the present year are, If anything. &
little more hopeful. Adverse points il
this country are still high taxation, IN
digested government loans. and higt
prices of meat; but the corn crops OF
the world were plentiful. the develop
ment in South Africa will no doubt be
important. the condition in Australia is
improving, and il is not improbable that
the trade TO the East and also to the
Argentine Republic will also increase
In Germany the period of liquidation
seems TO be coming 10 an end. and re-
turn of confidence may be near at hand
but the recovery after the serious de-
preston viii naturally be a slow one
Much will depend upon the United
States. Continued activity will benefit
Europe as well. while a sudden break
would cause stoppage of American de-
mand and perhaps a flood of American
r-ndnc+. into Enrnne