The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1917-10-05
THE EDITOR.

ern American workman while he had
to pay, say. half as much as the
American for food. Consequently, (if
we may trust so scanty figures) he
enjoyed only one-fifth as much real
income.
1t is an interesting fact that.
throughout the ages, while prices
generally risen, although as the
Roman comparison shows. this does
not necessarily, or even usually
mean increasing hardship. Prices are
now five to ten times as high as a
thousand years ago in France and
from four to six times as high as
five hundred years ago.
And so we are not the only gen.
GRAFTON to complain of the high cost
of living. In the sixteenth century
we find the complaint that wheat
cost from three to ten times it's av-
erage price during the three preeed-
ing centuries and "all things else,
whatever, sustenance for man, was
likewise raised without all conscience
or reason" We are told that 95.
two hundred and sixty years before
1907 bought as much as G28 or 6 80
at that date.
We may say. by the wav. that this
great upward movement Of prices in
the sixteenth century followed the
importation into Europe Of silver
from the new world.
1889 1909.
But we have no really good mea-
sure Of price movements before 1882
at which date Jevons' index number
for England begins. Between 1888
and 1909 his index number rose from
S. to 161. or practically doubled in
twenty years.
Here again it is significant that,
during these twenty years, there was
a great outpouring from the mines,
of gold and silver, especially silver.
There were also the Napoleonic
wars and deprecated paper money.
1909 tS4e.
Between 1909 and 1849 prices fell.
Jevons' index number fell from l61
to "a. That is, in these forty years
English prices were reduced TO less
than half.
Between Is4S and 1873 (although
with two .interruptions) British
prices rose, according to Sauerbeck's
we'll known index number, from IA
TO III. A similar rise occurred in the
other countries for which we have
index numbers for that period, name
ly: the United States. France and
Whatever the cause of this rise in
prices may have been, the fact is
that 1t followed closely after the
great outpouring of Californian and
Australian gold and o rapid develop
ment of banking.
1873 1895.
Between 1873 and 1896 prices fell
In countries using the gold standard
and rose in counties using the silver
standard. 5.. -..at... =-
1t will be remembered that,
throughout the world and particu-
larly in the United States during
this period, there was much contro-
versy over prices and gold, silver and
paper money. We had in this coun-
try advocates Of the greenback
standard, of free silver, of interna-
tional bimetallism, etc., as remedies
for the great fall in prices and the
depression of trade of which there
were loud complaints. The ferment
eliminated in 1895 in the famous
Bryan "free-siIver' campaign.
1896 1914.
But, by the irony of fate, scarcely
had the country become excited over
falling prices when the movement
turned upward again and, with few
exceptions, ii has been upward ever
since. The old cry Of too little gold,
of too low prices, of depression Of
trade was forgotten and, the oppo-
site complaint Of the high cost Of
living gradually gained strength.
Meeker's index number of the United
States shows a rise between 1895
and 1914 from 81 to 100 or about 50
per cent,
The most remarkable fact is that
the course of prices up to the out
break OF the war was strikingiy
similar in all gold standard countries
for which we have statistics. name
Iy: The United States, Canada, Eng
land, France. Germany, Austria,
italy, Switzerland, Russia, Sweden,
Denmark, Holland, Belgium, and
even, though less strihngly. in far
away Australia. New Zealand, Japan
and India G
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