RELATIVE PRICES OF COMMODITIES, 1890 TO 1906, AND PER CENT OF INCREASE IN PRICES FOR 1906 OVER PRICES FOR EACH PRECEDING YEAR, BY GROUPS OF COMMODITIES-Concluded. In this table the average relative prices of farm products are based on 16 articles; of food, etc., on 53 articles from 1890 to 1892 and from 1904 to 1906, and 54 from 1893 to 1903; of cloths and clothing, on 70 articles in 1890 and 1891, 72 in 1892, 73 in 1893 and 1894, 75 in 1895, 1896, and 1906, and 76 from 1897 to 1905; of fuel and lighting, on 13 articles; of metals and implements, on 37 articles from 1890 to 1893, 38 in 1894 and 1895 and from 1899 to 1906, and 39 from 1896 to 1898; of lumber and building materials, on 26 articles from 1890 to 1894 and 27 from 1895 to 1906; of drugs and chemicals, on 9 articles; of house furnishing goods, on 14 articles, and of miscellaneous, on 13 articles. The average relative prices of all commodities are based on 251 articles in 1890 and 1891, on 253 in 1892, on 255 in 1893, on 256 in 1894, on 258 in 1906, on 259 in 1895, 1904, and 1905, on 260 in 1896 and from 1899 to 1903, and on 261 in 1897 and 1898. A study of the table shows that the group of farm products reached the lowest average in 1896 and the highest in 1902; that of food, etc., the lowest in 1896 and the highest in 1891; that of cloths and clothing, the lowest in 1897 and the highest in 1906; that of fuel and lighting, the lowest in 1894 and the highest in 1903; that of metals and implements, the lowest in 1898 and the highest in 1906; that of lumber and building materials, the lowest in 1897 and the highest in 1906; that of drugs and chemicals, the lowest in 1895 and the highest in 1900; that of house furnishing goods, the lowest in 1897 and the highest in 1903, while in the miscellaneous group the lowest average was reached in 1896 and the highest in 1906. The average for all com modities combined was lowest in 1897 and highest in 1906. Of the nine groups, it is seen that one reached its lowest point in 1894, one in 1895, three in 1896, three in 1897, and one in 1898. The highest point was reached by one group in 1891, by one in 1900, by one in 1902, by two in 1903, and by four in 1906. In order to follow the movement in the two great classes-raw and manufactured commodities-the following table has been prepared. The articles included under each of the two groups are indicated on page 242. RELATIVE PRICES OF RAW AND OF MANUFACTURED. COMMODITIES, 1890 TO 1906, AND PER CENT OF INCREASE IN PRICES FOR 1906 OVER PRICES FOR EACH PRECEDING YEAR. In 1890 and 1891, when prices in general were high, the prices of raw commodities were higher than those of manufactured commodities and remained so until 1893, when prices of raw commodities declined and those of manufactured commodities were slightly above the prices of 1892. From 1894 to 1896 there was a marked decline in both groups, the raw being lower than the manufactured in each of these years. In 1897 raw advanced and manufactured declined. From 1898 to 1900 there was a decided advance in both groups each year, raw advancing to a higher point than manufactured. In 1901 there was a very slight decline in raw and a more marked decline in manufactured. In 1902 both raw and manufactured commodities made a decided advance, and in 1903 both slightly advanced. In 1904 both raw and manufactured commodities declined slightly, but in 1905 both raw and manufactured commodities advanced. In 1906 both raw and manufactured commodities reached the highest point during the 17 years considered. For the 17 years included in this table, with the single exception of 1893, it will be seen during the years of high prices raw com modities were higher than manufactured, and during the years of low prices, with the exception of 1898, raw were lower than manufactured. This is clearly shown in the graphic table which follows: RELATIVE PRICES OF RAW AND MANUFACTURED COMMODITIES, 1890 TO 1906. [Average price for 1890 to 1899-100.] RELATIVE 1890 1891 1892 1893 1894 1895 1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 PRICES In order to give an opportunity to study the movement in prices in each of the 9 groups before named, month by month for a few years 266B-No. 6907- -2 back, a table is now given showing the relative prices in each group and for all commodities for each month from January, 1902, to December, 1906, inclusive: RELATIVE PRICES OF COMMODITIES FOR EACH MONTH, 1902 TO 1906, BY GROUPS. 127.6 105. 2 June 126.8 105.1 120.8 106.3 110.4 143.6 108.9 123.6 111.9 110.2 113.2 124. 4 114.4 111.5 112.9 114.6 114.0 112.7 113.2 125.5 124.1 112.2 109.6 130.8 115.2 120.1 108.9 109.1 111.2 114.0 115.2 114.6 114.9 113.9 114.6 112.1 113.6 121.2 130.7 108.8 109.1 112.9 114.1 128.9 103.2 111.5 124.3 120.8 128.0 106.4 109.1 110.6 114.3 a These figures are slightly different from those published in Bulletin No. 63, March, 1906, where an error was made in the prices quoted for white pine lumber. (See page 340.) RELATIVE PRICES OF COMMODITIES FOR EACH MONTH, 1902 TO 1906, BY GROUPS— In this table the average relative prices of farm products are based on 16 articles; of food, etc., on 54 articles in 1902 and 1903 and on 53 articles from 1904 to 1906; of cloths and clothing, on 76 articles from 1902 to 1905 and on 75 articles in 1906; of fuel and lighting, on 13 articles; of metals and implements, on 38 articles; of lumber and building materials, on 27 articles; of drugs and chemicals, on 9 articles; of house furnishing goods, on 14 articles, and of miscellaneous, on 13 articles. The average relative prices of all commodities are based on 260 articles in 1902 and 1903; on 259 articles in 1904 and 1905, and on 258 articles in 1906. The table shows that the group of farm products reached the lowest average in November, 1903, and the highest in July, 1902; that of food, etc., the lowest in June, 1905, and the highest in December, 1906; that of cloths and clothing, the lowest in January, February, April, May, and August, 1902, and the highest in December, 1906; that of fuel and lighting, the lowest in April, 1902, and the highest in January and February, 1903; that of metals and implements, the lowest in September, 1904, and the highest in December, 1906; that of lumber and building materials, the lowest in January, 1902, and the highest in December, 1906; that of drugs and chemicals, the lowest in May, 1906, and the highest in January, 1902; that of house furnishing goods, the lowest, January to June, 1906, and the highest in November and December, 1906; while in the miscellaneous group the lowest average was reached in November, 1904, and the highest in December, 1906. It is interesting to see that during the five years the relative price of not a single group was as low as the base—that is, the average price for the 10-year period from 1890 to 1899. Farm products were from 9.9 per cent to 41.1 per cent above base (average price for the 10-year period, 1890 to 1899); food, etc., from 2.7 per cent to 18.2 |