The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-04-22

building materials to drop in prices.
This information is given for the pur-
pose Of knocking loose from the idea
that one should wait till wages and
materials are cheaper A summary of
this report follows: as
"A comparison of the course of
prices during the Civil War and the
present war show many points of
similarity during the two war periods.
The course of prices during the pre-.
sent period of readjustment and the
corresponding period following the
Civil War show more points of diff
ference than of similarity.
During both wars the wholesale
prices of commodities in general rose
steadily through the war period. The
rise during the Civil War period, TAX
ing the year 1850 as the base, runs up
to somewhat higher levels than the
rise during the present war. In both
wars, building materials rose in price,
but they did not at either time reach
levels as high as the price levels of
other commodities.
"At the beginning Of the year 1865
the end Of the Civil war being in sight
wholesale prices broke suddenly and
Violently. During the first six months
of the year prices in general fell off
q percent from the high level of
January However, the break in whole
sale prices, though unprecedented in
violence and accompanied by the un
settling influence of the end of the
great war, produced no business cri-
sis or depression. Through the latter
half Of 1865 prices recovered from
the down point until January, 1866,
they stood just 1G per cent below the
level of January, 1865. From The be-
ginning of the 1866 prices dropped
slowly downward. They did not reach
the DreWar level until the year
1873. As is we'll known, during that
period of inflated currency, gold was
at premium. However, commodity
prices remained above the prices Of
gold up to and including the year 1877
Building materials declined in
price along with other commodities
during the first half of the year 1865,
However, the fall was less than in
the case of other commodities. Where
as commodities in general dropped
81 per cent, building materials drop
ped onl IA IL percent. The recovery
during the second half Of the year
was more marked, prices of building
materials returning to the level of
the last quarter of the year 1864, and
remaining at that level for period CT
a year before the decline set in. The
index figure for the building mater
ials group remained higher than that
for all commodities up to and in
Guiding the year 1874.
"The currency was on distinctly
unsound basis in the Civil War recon-
struction period The sharp fluctua-
lions in prices gave rise to much spe-
culation and the opportunities for de-
velopment of the resources of the
country, such as unsued land, rivers
and harbors, building of railroads,
let to over-expansion of business re-
sulting in the Financial Panic of 49,
70. This Panic was not accompanied
by any sharp decline in prices.
"As was stated above, it was thir-
teen years after the Civil War before
prices returned to the prewar level.
The principal cause of the return to
the prewar level was the fact that
there was such abundant opportunity
for the development of new and more
economic methods of production in
the shape of new forms of machinery
and new kinds of business OrganiZa-
tions. These opportunities we do not
hove at the present day in any mea-
sure comparable with the previous
pCriod."
WANTE-Good colored boy who is
not afraid of work. Permanent job
tgI