THE MIDDLEMAN IN AGRICULTURE. 83 



This statement is of interest in more than one way. 

 Firstly, it gives a standard price (5$d.) of the 4-lb. loaf 

 at the present time. The figures which have already 

 been cited of the quotations of bread in various parts 

 of the country show that this is not a very simple matter. 

 Mr. Chadwick states that " the price to-day (February 21st, 

 1893) of the best household bread at the counter in 100 

 of the best bread-shops in London is ^d. per 4 lb." 

 More striking than this, however, is the evidence given 

 by Mr. Chadwick's figures of the lack of relationship 

 between the price of bread and the price of wheat. 

 The current average price of wheat at the time of writing 

 is 25s., while the price of bread is $\d. But in 1859 

 the price of bread was the same, while the price of wheat 

 was 66 per cent, higher. In 1887, when the price of wheat 

 was 6s. per quarter more than now, the price of bread 

 was \&. less ; and, again, in 1849, when wheat was 

 practically at the same price as in 1859, bread sold for 

 \d. more. But the most startling comparison is that 

 between 1839 and 1893 ; for we find that, whereas 

 wheat has fallen during the interval 63 per cent, in value, 

 bread has fallen only 38 per cent. In fact, relatively 

 to wheat, bread was cheaper in 1839 than in any other 

 of the years mentioned. 



It ought, perhaps to be mentioned that the fact that 

 the price of bread has not fallen with the fall in wheat is 

 denied. A correspondent of The Times, writing as " the 

 chairman of one of the leading bread companies," stated, 

 " from the experience of a close connection with the trade, 

 that the price of best bread at this time last year was 

 6%d. per 4-lb. loaf, against $\d. at the present time " 

 (February, 1893). He added that 



this reduction of id. is equal to 7s. gd. per sack of flour, 

 whereas the average price of the latter is only ys. 3d. less than 

 it was at the same time last year. This (he continues) will 

 clearly prove that the reduction in the price of bread is even 

 greater than the reduction in the price of flour ; and this 



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