The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-01-03
Bradstreet's Business Review


population, which accepted wheatless
and meat1ess days. record high levels
of prices. some rather drastic limit?
tations OF individual liberties and a
myriad of other sacrifices, as some
thing all in the days work of win
ming the war. In doing this, by the
way, the free stock of wheat was re-
duced to ten days supply by the
time the new crop was available
Super-War Prices.
Up to the. middle of the year the
movement of commodity prices, if
slight seasonal reatcion in March be
excepted, was quite steadily upward,
rejecting the needs of our allies, the
high buying power of our own peo-
pie, and. last but not least, the con-
centrated buying of our government
for army needs 100000 men being
in arms and still greater number
being in prospecD. The August 1
number, however. rejecting, as it did,
government price-fixing Of cotton
goods, showed a decline, and the fol-
lowing numbers showed a rather I'M
certain but on the whole, downward
trend until December l. when, con-
trary to many expectations based on
the return of peace. the index number
rise IN meats and dairy products,
which, of course, are and have been In
class by themselves owing to war
demands. Illustrative of this 1t might
be said, a selected list of meats, bread
stuffs, dairy products and groceries
on July l, 1918, showed gains of 65 to
$50 per cent as compared with the
prices ruling at the outset of the
great war in 1914. Bradstreet's APP
proximate index number of December
/ shows that prices as a whole are
only seven tenths of 1 per cent below
the high point of July 1, are per cent
above December 1 a year ago, and lis
per cent above the level ruling on
August 1, 1914. Compared with April
1, 1917, on the eve of our entry into
the war, the advance is 80 per cent
The Index number for the entire year
1918 is S1S.T3. which is ZIG per cent
above the low record year 1896, TWEEN
ty-two years ago.
The Crops.
OF the crop out-turn of 1918, it may
be said that it was excellent in part,
fair in other respects and bad in but
few, the conspicuous shortages being.
however, in animal feeding stuffs,
corn, hay, oats and potatoes, which
has been an unfavorable element in
the matter of meat production and
prices. Owing to a record yield of
spring wheat, the wheat crop as a
whole wa sclassfble as good, though
loo, 100000 bushels below the high
record of 1914. Oats an dpotatoes' fell
off little, but the loss in corn due to
drought in the summer is hard to
make up. BARLEY, rye. sweet potatoes,
peanuts and beans and tobacco all
showed record yields. Cotton yields
were larger than in either of the pre-
ceding two years, but short when mea-
sured by the yield of 1914. In the
matter Of prices paid. farm products
left little to be desired, corn potatoes.
rye, beans and cabbages being among
the few showing smaller financial re-
turns. Cereal crop values as a whole
Sc, aT1, 634 900. break all records ex-
ceeding 1917 by 4 per cent, and all
crops valued at s12,272, Az. 900, gain
ed per cent over the preceding year,
itself high-record point in values.
These financial returns. coupled with
the planting of record area. 1901
600 acres. in winter wheat, with the
third highest condition recorded, con-
tain excellent promise for the coming
year so far as the farmer is concern
price Is guaranteed him for 1919. In
case, as it is possible, a yield exceed
ing that of 1914 is realized.
Looking Forward.
While a certain amount of the buoy
ancy with which the victory of the
allies was greeted has disappeared
and establishments from war to
peace basis in industry have made for
a good deal of uncertainty, due main
~ to the question of the future of
prices and the disposition of unneed-
ed war supplies, there seems to be no
good reason for taking counsel of our
fears as to what is to happen after
peace terms orc ~=r-@>d Mich weighty
Tx of problems to be solved appears
in the papers, 49, u...sss all past ex-
perience is at fault most of the prob
lens arising are very similar to those