PRICES OF PRODUCTS 



to the market so soon as they would be accepted 

 at any price. 



This conclusion seems to be confirmed by the 

 fact that while there were 56,982,142 hogs on 

 farms January i, 1901, there were but 48,698,890 

 on January i, 1902. This relation between the 

 prices of maize and of hogs during the last five 

 months of 1901, may be explained in part, how- 

 ever, by the fact that the supply of marketable 

 maize was much smaller than the total number of 

 bushels produced in the country, for the reason 

 that much of the crop did not mature properly. 

 A considerable proportion of the crop could not 

 be put upon the market and that which was mar- 

 ketable commanded a high price, while that which 

 could not be sold could not be kept for any great 

 period in the crib without deterioration, hence it 

 was rapidly fed out regardless of the high price 

 of maize upon the market. 



Perhaps sufficient has been said to impress the 

 careful reader with the fact that the so-called law 

 of demand and supply is but a very general state- 

 ment of the price-determining phenomena, and 

 that the conditions and forces which lie beneath 

 demand and supply are exceedingly various and 

 complex. 



LITERATURE 



Boehm-Bawerk, Eugen V., Positive Theory of Capital, Book 



IV. 

 Wieser, F. Von, Natural Value. 



147 



