The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-04-13

in the matter of price levels. The
prices obtained for this purpose ex-
tend back to 1880, and practically ex-
haust the resources OF the library of
congress and of the libraries OF the
executive departments.
Among the conclusions Of the re-
port are the following: vt is evil
dent that when prices as expressed in
cents are used, the price level OF pork
in the United States at large is found
to have risen considerably in the last
period as compared with the first.
apparently the price level of but
ter in cents in the United States has
risen in the last period as compared
with the first. although II has fallen
price level in cents is indicated for
eggs IN the last period than for the
first"
In determining changes of price
levels as indicated by index numbers
instead of by cents. "a slight tendency
toward a higher price level is midi
Gated for fresh pork because of the
monthly redistribution of Consump-
ton and prices, when the last period
is compared with the first" For but
ter there is undoubted tendency to-
ward a higher price level because of
the redistribution of monthly CON
sumption and prices throughout the
year, and the same conclusion is made
for eggs.
In a grand summary Of results Of
the investigation of changes in price
levels. the conclusion Is expressed
that "the general, but not invariable,
rise of prices to higher level. when
prices are expressed in cents, readily
appears; and also an almost invariable
tendency toward a higher price level
when prices are treated as index num-
fN. IL. Il .xF
extending from 1902 to 1911, is com
pared with the first period, which
antedates the time when cold storage
was of large account"
Uniformity OF Prices.
Another important topic of this re-
port relates to the tendency toward,
or away from, uniformity of prices
throughout the year because OF the
introduction of cold storage IF
portion of product is withdrawn
from consumption at time of the
year when production is relatively
large, and released for consumption
at time of the year when produce
ton is relatively small, the academic
logic of the proceeding la that prices
will be raised during the period of
natural surplus, and depressed dur
ing the period OF natural scarcity. so
that there will be in operation an
equalizing force" The price statistics
collected In this investigation permit
definite and conclusive answer to
this question.
In the special investigation for New
| York City 1t appears that there has
been a tendency from the first to the
last period toward uniformity OF
prices Of fresh butter through all of
the twelve months OF the year, and
an unbroken tendency toward uni
formity when the fresh butter of the
first period Is compared with the cold
storage butter of the last. A com
parison OF periods for fresh eggs finds
tendency toward uniformity OF
prices In eight months and away from
uniformity In four months; and, If
the fresh eggs of the first period are
compared with cold storage eggs in
the last period. there is "A tendency
toward uniformity OF prices in ten
months and away from uniformity in
two months
In the treatment of this subject for
the United States, the price quota
ton was taken for the first of each
month and consequently thirteen quo
tations were needed to cover year
The conclusions OF the report are
these: FOR fresh beef there was Il
tendency toward uniformity of prices
/ for only three of the thirteen months.
for mutton for nine of the thirteen
months. for pork for only five of the
thirteen months: for dressed poultry
for eight Of the thirteen months, for
butter for eleven of the thirteen
months; and for eggs for nine of the
/ thirteen months The fact may be
regarded as established that there is