RETAIL AND WHOLESALE PRICES 



63 



larger than before the war, if they are to fare as well as most other 

 classes. As a matter of fact, the retailers now seem to be sell- 

 ing ham at a differential of about 18 cents a pound over the whole- 

 sale price and about 36 cents a pound over the price of hogs. In 

 the case of ham, the retailers began demanding an increased mar- 

 gin in May of 1917, the month after the war broke out. They kept 

 increasing the margin as opportunity presented itself, but not till 

 the summer of 1919 were the retailers able to Aviden out the dif- 



1911 



Illustrating: how the differential between farmers' price and wholesale and retail 

 price widens in proportion to the higher price level. 



fcrential between retail and wholesale prices sufficiently to cover 

 the cost of doing business on a price level twice as high as in 1914. 

 The facts concerning the retail price of ham, wholesale price 

 of ham, and price of hogs, arc presented in the accompanying 

 chart. Other retail prices are given in the appendix, and it is 

 possible from the figures there presented to work out normal dif- 

 ferentials for such products as wheat and wheat flour, corn and 

 corn meal, sirloin steak and cattle, etc. 



