n8 THE FARMER'S OUTLOOK 



of the theory agree that supply and demand are 

 concurrent factors. We will not attempt to 

 determine whether increased gold production has 

 contributed to the rise in wheat, meat or dairy 

 produce. If the extensive change taking place 

 in the markets and production of these staple 

 food stuffs, which these pages have shown, is 

 accepted as a sufficient explanation, we have 

 scarcely any need of going beyond them. 



FREIGHTS AND PRICES 



Another omission is the effect of freights on 

 prices. Undoubtedly, during the seventies and 

 eighties cheap freights were the primary cause 

 of lower prices. The " natural protection " 

 assured to our home producers by the cost of 

 transportation on imported food supplies was 

 one of the arguments employed for the repeal of 

 the Corn Laws. Mr. J. Caird, writing as recently 

 as 1880, expressed the opinion that the cost of 

 wheat carriage from abroad would not fall 

 below 30s. per ton ! As an instance of the con- 

 trary view an attempt to attribute to cheaper 

 freights the main portion of the fall in wheat 

 from 1870 to 1890 was conclusively proved to 

 have been without foundation. 1 



1 The Corn Trade Year Book, 1 901-2, Geo. S. 

 Broomhall, p. xiii. 



