The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-09
BRITISH HAD TO PAY
Royal Statistical Society Brochure
Says Prices Ruled High
Last Year.
Report Makes Reference to Amer.
cas- Continued Prosperity and
to Germany's Depression.
From The Journal Bureau, Room IS, Post Build
ing, Washington.

From Inc journal bureau, Room 20, Post bu1ld-
ing, Washington.
Washington. May at appears that
high prices are quite as much the rule in
England as in the United States at the
present time. Professor Sauerbeck's an
nual statement, Prices of Commodities, !"
published in the Journal of the British
Royal Statistical Society for March 81
1903, just received by the treasury bureau
of statistics, shows high prices in food
stuffs, in. iron and in textiles, during the
year 1902. The statement begins with a
series of Index number" tables, showing
index prices for groups of articles from
1893 to 1902. The index number for the
group designated vegetable food stands
at 63 for the year 1902, against 60 in 1899
and SO in 1896; that for animal food"
stands 81 in 1902, against " in 1898 and q
in 1896; that for minerals stands at 80
in 1902, against 70 in 1898 and So in 1895;
that for textiles stands at 81 in 1902.
against 81 in 1893 ard SO in 1896; and the
index number for the group designated
'tsundry materasis stands at a in 1902,
against 63 in 1898 and 81 in 1897. Com
menting upon these figures. the. statement
says. IN eat was dear during the greater
part Of the year, and beef ruled III June
and July higher than at any time since
1883. Scotch pig iron rose from
49ss per ton to SIS 4d in September, and
dropped to. 53s Sd at the end Of the year.
Flax was higher in the summer
but lost the advance later on. Jute was
dearer in the second half of the year; fine
wood advanced Is to SO per cent. Silk
also ruled higher. Tallow, palm oil and
nitrate were dearer.''
Commenting upon commercial condi-
tions, the report says: "The exports from
the United Kingdom were somewhat lar
lger, which was principally due to the
American demand for iron and some othel
1 nnr 1ndi lag ar 10 aforo r.
South Africa. The shipments, on the
! other hand. to India Australasia, japan
and Argentina were smaller In Germany
Austria and Russia the depression contin
/ ued thruout the year, and France was af
/ fected by coal strike in the last quarter
4 The corn crops of the world were large
and the supply of some other commodities
particularly sugar, coffee and cotton, wa
very heavy
\ Commenting upon conditions in thu
i United States, the report says: ''Th'
i United States have again occupied an ex
I ceptional position. If year ago fear
were expressed that the state Of affair
there was not free from danger, it mus
now be admitted that they were prema
ture, as marvellous prosperity has contin
ued undated to the present day. Amer
lean securities had another boom, ant
tho reaction followed, the last price
1 still occupy a, high level. It is estimate4
that the iron production Of the state
I reached the enormous total of 1900, 90
4 tons, and even this was insufficient 70
the requirements
i Commenting upon the prospects 70
1 1903, the report says: "The prospects 70
the present year are, If anything, a lit
). tie more hopeful Adverse points in thi
country are still high taxation, undigeste
government loans and high prices Of meat
4 but the corn crops Of the world wer
plentiful, the development in South AT
RIGA will no doubt be important, the con
3 dition in Australia is improving, and
is not improbable that the trade to tn
east and also to the Argentine Repuh
lie will ais o increase. In Germany tn
period Of liquidation seems to be com
ing to an, end, and a return Of conf1denc
may be near at hand, but the recover
after the serious depression will natural
be a slow one. Much will depend upo
the United States. Continued activit
will benefit Europe as well, while sudde
, break would cause stoppage Of Amer
! lean demand and perhaps a, flood of Amer
2 lean products into Europe