South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-10-08

cent Of the money wages of the mod
ern American workman while ne
had 10 pay, say half as much az the
American for food Consequently,
Off 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
have sometimes fallen, they have
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 thou
sand 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 10 complain of the high cost
of living. IN the 10th century we
! find the complaint that wheat cost
| from three to ten times its average
| price during the three preceding
centuries and all things else. what
ever. sustenance for man, was like
wise raised without all conscience
or reason. We are told that five
pounds, two hundred and sixty
years before 1907 bought as much
as 2S pounds or 80 pounds at that
date.
We may say, by the way. that this
great upward movement of prices in
| the 18th century followed the i'm
portation into Europe of silver from
the new world.
17S9-1SO9.
But we have no really good meas
ure of price movements before 1882
at which date Jevons index num-
| Der for England begins. Between
1883 and 1909 his index number rose
from 50 to ISL, or practically
doubled in 90 years
Here again it is significant that,
during these 20 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.
1SO9-1S49.
Between 1909 and 1S49 prices fell.
: Jevons' index number fell from 161
! TO 81. That is. in these 40 years
English prices were reduced to less
than half
1S49-1S73.
Between 1919 and 1873 Calthough
with two interruptions) British
prices rose, according to Sauer-
beck's wenknown index number,
from "A 10 III. A similar rise oc-
CURED in the other countries for
which we have index numbers for
that period. namely: The United
States, France and Germany.
Whatever the cause Of this rise
in prices may have been, the fact is
that it followed closely after the
great outpouring of Californian and
Australian gold and a rapid develop
ment Of banking
1S73-1S96.
Between 1873 and 1895 prices fell
in countries using the gold standard
and rose in countries using the sill
yer standard.
1t will be remembered that
throughout the world and particu-
larry in the United States during this
period, there was much controversy
over prices and gold. silver and pa
per money. We had in this country
advocates of the greenback standard
tof free solver, Of internationa
bimetallism, etc, as remedies fol
the great fall in prices and the de
preston Of trade of which there
were loud complaints. The fermen
eliminated in 1896 in the famous
Bryan "free-silver" campaign.
| 1s96-191I.
But, by the irony of fate. scarce
ly had the country become excited
over falling prices when the move
ment turned upward gain and. witt
few exceptions, il has been upward
ever since. The old cry OF too littl'
gold, of too low prices. Of depres
sion Of trade was forgotten and. tn
, opposite complaint Of the high COS
of living gradually gained strength
r Meeker's index number Of the Unit
ed States shows a rise between
- 1895 and 1914 from s. 10 100 o
about so percent.
The most remarkable fact is tina
the course OF prices up 10 the out
break Of the war was strikingl
. similar in all gold standard coun
: tries for which we have statistics
. namely: The United States, Canals
= England. France. Germany. Aus
n tria. italy. Switzerland, Russia
n Sweden. Denmark. Holland. Bel
4 GUM. and even. though less strik
. ingly. in far away Australia, Ne'
:, | Zealand. Japan and India.