APPENDIX 



125 



PRICES DURING 1862-1878. 



Prices during the 1862-1878 period are generally given in currency, and 

 the currency of that period, unfortunately, had a fluctuating gold value, 

 just as the British pound has today. In order that our readers may be 

 able to convert the currency prices of 1862-1878 into terms of gold, we are 

 publishing the following table: 



AMOUNT OF GREENBACK CURRENCY NECESSARY TO BUY ONE 



DOLLAR IN GOLD IN UNITED STATES, FROM 1862-1878, 



INCLUSIVE. 



GREENBACK CURRENCY Continued. 



CHICAGO TEN-YEAR AVERAGE DAILY PRICES, 1904-1913. 



Compiling the tables on pages 126-133 involved considerable work, but 

 it is believed that for studying seasonal trends and normal relationships 

 at different times of the year, these figures are very valuable. As a mat- 

 ter of interest, a few future contract prices are averaged. It will be noted 

 that the future prices differ considerably from the cash prices until the 

 date of the delivery month draws near, when the future and the cash 

 prices become almost identical. Before the war, the future contract sys- 

 tem worked very well, but during the war it was rather unsatisfactory. 

 There is an interesting field of study in the seasonal trend of northern 

 wheat (spring) as compared with red wheat (winter). 



