The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1919-07-03
INCONiPREHENSIBLE
EFFECTS OF WAR.
CONTINUED from page 2, column 2)
Imitation based on world: Currency,

country. There will be an enormous
demand for all ommodit3es. The re-
suit of this demand, added to the
enormous imitation, will bring prices
for commodities undreamt Of. This
imitation will last until the present
generation will have long passed. II
is a law of economics which is as un-
chaneeable as the law of sravltatlon.
The increase in circulation decreases
the purchasing power Of the dollar. IN
like proportion, and IN like manner
the decrease in circulation increases
the purchasing power of the dollar.
,On the basis of this law, the increase
in circulation is SIX to ore (S4S,0oo.-
O0O 900 against SS,O00,0 0,000(: ap-
nlv;ng this to cotton, which was bring
ing 13jcents prior to the war today, II
there were the same supply and the
same demand, it would be six times
as much, which would be IS cents.
However, the bonds of the world have
increased from s40,000,0o0,000 to
100000, 100000, which increases
the bonds from five and half to one.
Deposits have been Increased from
s25, 100000 to s75,000,000,000,
which increases deposits three to one.
Today the bonds and the deposits
have a marked effect upon imitation,
greatly increasing some so that inf1a-
tion is above that shown by the cur
rency.
Price Advances Were World Wide.
One of the best authorities has
stated:
"Raw silk, for example, for which
the war made no special demand and
which was produced on the side of
the globe opposite that in which the
hostilities we're occurring, advanced
from s3 per pound in the country of
production n 1913 to $3.50 per pound
in 1917, and over Sc per pound in the
closing months of the war. Manila
hemp, also produced on the opposite
side of the globe and not war re-
ouirement, advanced in the country
of production from $3.50 per ton in
1913 to s437 per ton in 1918. Me-
chanically ground wood pulp, not a
war requirement, advanced as our
publishers are aware, from S14 per
ton in the opening months of the war
to s33 per ton in the opening months
of 1918, and the grade known as
tchemical bleached" advanced from
$50 per ton at the beginning of the
war to $3.50 per ton in January, 1919.
Goat skins, from China, India. Mexico
and South America advanced from 25
cents per pound in 1914 to so cents
per pound in 1918, and yet goat skins
were in no sense special requirement
of the war. Pig tin, produced by
Chinest labor in the Malayan Peninsu-
la and the Dutch East Indies and not
to a very great extent a war re-
quirement, sold in the country of
production in 1914 at 80 cents per
pound and in the same markets Is
cents per pound in the closing weeks
of the war. Sisal grass produced in
Yucatan advanced from 500 per ton
in 1914 at the place of production to
nearly s4O0 per ton in 1918, and
Egyptian cotton, high priced prod
uct and thus not used for war pur-
poses, Jumped from Ia cents per
pound in Egypt in 1914 to 35 cents
per pound in 1918. Even the product
of the diamond mines of South Africa
advanced from 60 to 100 per cent in
price per karat when compared with
prices existing in the opening months
Of the war The prices which have
been quoted are in all cases those in
the markets of the country in which
the articles were produced and in
most cases at points on the globe far
distant from that in which the war
was being waged. They are the prod
uct of countries having a plentiful
supply of cheap labor and upon which
there was nc demand for men for
service in the war. The advance in
the prices quoted is in no sense due
to the high cost of ocean transporta'
tion since they are the prices de,
manded and obtained in the markets
of the country of production
The following table gives a wide
list of representative commoditie:
and the percentage of their advance
over the 1913 level as reported b!
Bradstreet:
Com Advance +.
modify. over 1918.
Corn - ---.lZ0