Arizona republican., 1918-01-15


 creased the purchasing power of the | people as a whole. while record yields 1 of many crops at unprecedented prices 1 have raised earnings of tn agricultural interest beyond all previous years. War prices have naturally ruled throughout, and their levels have been far above all hitherto recorded standards, placing l. burden upon those engaged in non- warlike industries and occupations, which has been borne not entirely without complaint and criticism, but. after all, with an almost surprising cheerfulness, considering the imposts levied upon all in the shape of in- creased taxes Indeed, with com paratively few exceptions in our vast population, and these largely aliens ln foreign nav. there has been a spirit of self-apnegation and a whole-heart- ed support of national organization and defense measures calculated alike to command and to deserve national suc- cess.
 The Price Movement
 Perhaps no single development of
 the year surpassed the record made
 by prices of commodities. The deficient food harvests of 1916 which fell one fifth below those of 1915, were only
 partly responsible for the aeroplane-
 like flight of prices Foreign demand,
 sharpened by lessened yields, especially
 of grail abroad, was very large, while
 our own allies calls for all sorts of war | supplies-cOtton and Woolen cloth | leather, iron, steel, coal copper lum- | Der, provisions of all kinds, chemicals
 and drugs-drove prices to unexampled i heights. Nearly all civil war records | of food prices were broken; wheat sold | up to $3.50 per bushel; corn to SPA;
 oats to 9S cents; flour, s17 per barrel; hogs, S20 per hundred pounds, live
 weight; lard, 29 cents per pound; pork.
 $53 per barrel; refined sugar, $S.40 per hundred pounds; pig iron, $55, and
 steel, $100 per ton; lead, F cents; tin,
 91 cents; copper, 34 cents; cotton, 31.25
 cents and print cloths, S$4 cents per
 yard; and indeed the list of articles
 advancing to dizzy heights was a virtu-
 al roll call of the products of farm, mine and factory. Most of these peak points were reached in the fore part of
 the year, and food and fuel control
 undoubtedly held down prices later,
 still only three of the thirteen groups
 of commodities failed to reach peak
 points in 1917. Hence it was that the
 general price level as shown by Brad
 streets Index Numbers of Commodities
 went up steadily month by month
 throughout the year; that the advance
 from January to December was 29 per
 cent; that the advance over August
 1914, was 105 per cent, or more than doubling since the war began. IT other words, the buying power of the
 d.llar today is less than half what ii was at the outbreak of the war, and only one-third what it was in the low water mark year, 1896. The yearly index numbers, reflecting. as they do the average for the entire year, do not show as great a gain, but still the 191l ] number i3 75 per cent in advance o1 7 that of 1914.
 The Crops
 The crop results of 1917 show tha1
 the balance lost by the unfaVorablt weather and short yields of 1916 was partly restored by the efforts of the ] agriculturist. This is true, at least, o1 most of the crops, though the loss o1 winter wheat in 1916-17 was not made up in spring wheat, and the bumper : yields of corn, oats, rye white anC sweet potatoes and beans were the re suit rather of enlarged areas than O. increased yields per acre However. tht yields of leading cerealS-meat-anl feeds foremost-Were over one-flftf , larger than the year before, and po' | tatoes, an important human food, Wer' far in advance of any previous year The plant garden movement, frs actively proposed early in March, wa fY.it NI1oY nil vii should Ca further expansion in 1918. The effor to plant a tremendous area in winte wheat in the fall of 1917 was checket by adverse weather (drought), but stil a record area has been planted, thougl the condition of 79.3 is points beloV , a year ago 10 rOints below the ten : year average, and is the lowest De cember condition on record. The com . paratively moderate returns in a quan titative way was in 1917 where, thank to insistent demand, turned into
 veritable gold mine in a. money way cereal crops gaining 62 per cent il : value on a gain of only 21 per cent i quantity; the values of A leading crop were 50 per cent in excess of 1916, an [ all farm produce reached the sum 0 $21 ,000,000, 900 or about what will hay , been spent for all purposes by the Unit ? ed states government 1917, to June 30 1918.
 j. Looking Forward
 Inasmuch as the war has been an is the great moving feature in thi country's trade, as 1t is indeed i 5 every other department of the world !, U activity. all views as to the future ( U finance, commerce and industry mus U inevitably hinge upon the course an outcome of that struggle. As a partici
 pant in, instead of a spectator of, tn = struggle as in the preceding three year Il this country must naturally expect { II show more effects of it, the longe = the conflict continues. If the expert T ence of Great Britain through thre u years and of ourselves through min II months is to be accepted as a guid e the tendency will be to more and mor ' subordinate all interests to the win z ming of the country's greatest figh The course of the stock market, es = pecially since the midyear, which ha :. been quite steadily downward. is bl u repeating that of those abroad, an y points to a further attraction of cap IL tai from all other activities to that
 financing our immense expenditure
 So, too, with our industries, d numb, :. of the so-called non- essential ones a V ready have felt the effect of diversic '. of demand or of economies advocate .e. or enforced by public interest, IT y drain on our man power-we have no ,. nearly 1,60O,00O men in the initial and naval service--and the extension V the draft bid fair to draw other mi = lions away from the farm, the factor " the office and the store. Providing f. - these must throw a greater burden III
 on those remaining at home and upc
 the women of the country also. Bus e ness as usuar' surely cannot apply
 us any more than it has abroad.