Evening journal., 1919-06-19
GENERAL EXPENSE
DECLINE FAR OFF
Statislician of National City
Bank Sees Imitation as
One Of Chief Causes
ARMISTICE PRICEDROPS
OF SHORT DURATION

READING. June i9- Many people
have been disappointed in failing to
realize on immediate and marked reduc-
lion in prices following The close Of the
war. said q. r. Austin, siaiistician Of
ihc National City Bank Of New York
before the Kiwanis Club here yesterday.
eWhile certain articles have shown q
slight decline. many others are as high
as al the date Of the signing of the
armisiice seScn months ago, and are
averaging higher today Than two, three
or four months ago.
"Whne most OF these weekly index
numbers did show slight decline dur
ing the months Immediately following
the signing of Tie armstice, this tenn
porary decline was followed in pracii-
cally every instance by advances, and it
is a fact that these records. Kept with
great care by high authorities 10 the
leading trade ccnicrs OF the world while
slightly lower than 40 the date Of The
signing OF The armislice. are in prac-
tically every case. higher than In Feb
ruary of the current year
"Stll another and extremely import
ant index Of the advance or decline in
world prices Is found by an eNamna-
ton of the average import and export
prices Of principal articles of inlerna-
tional trade entering or leaving the
United states as stated by the govern
meni. The monthly summary OF COM
merce of the United states states The
average import price of about seventy
ave leading articles entering the coull-
try month by month. and also the aver
axe monthly export price OF about a
like number An examination of these
figures shows that over half the I'M
ports are higher in prices In the months
az Apri than In October the last iull
month of ihe war. This fact Is espe-
riaiiv imporlant as am index of world
nrices since the prices named by the
.denarfmenl are in Am cases those of The
articles I'm the countries from which rN-
ported 10 the United states mus clear
k indicating the maintenance OF prices
In other parts of The world ana m many
eases IN actual advance in tne prices
existing i'm The closing month oil lhe
var In our own exports more tieh
half the list also show higher prices III
April than in October.
-Evcry one of these index numbers
representing great trade ceniers OF inc
world. while showing a slight fan am
medialely following The armislice show
advances during the last three months
thus suggesting that there Is little rea-
SON io expect marked declines in gem
cral price levels in The near future,
althourh in certain articles there
have hcen. and probably Viii con-
iinue Go he reductions
.srhe chief causcs 90 the world adj
vance In prices appear TO be the inlla-
ton OF world currency, coupled WIN
fhc scarcity demand and The conse-
uient advance in labor costs The
prospect OF material reductions IN thC
near future would depend upon ih'
possibility of the removal or modiica-
tion Of the chief causes Of The adj
vance
"Siaicd chronologically, the CHIEF
causes OF lhe advance seem 10 have
been first. The scarcity demand for
war materials. food clothing. manu-
facturers. manufacturing materials and
the labor required for their prompt
production. but this was quickly fol-
lowed by an enormous world inilali0n,
i'm which paper money with face
Value OF S36OOOO0000O was emitted by
the printing presses OF the countries
al war and The legal tender circulai-
ing medium OF the world was thus adj
,anced from si5.O00W0O00 in 1918 toll
more than si50O0OOO0O0 in 1918, most
ol the gold formerly in circulation
passing into the vaults of The govern (
nenls and their great banks as a