given the price for each year. It is to be remarked that there is a difference in prices 

 between British wheat and imported wheat. The imported was higher and varied 

 in the 10 years, 1905-14 from 5 to 10 cents a bushel, and averaged 7 cents for the whole 

 period. 



Average price per Bushel of British Wheat for the Calendar year, 1800 to 1915. 



Year 



$1.73 1894 $0.68 



1.78 1895 0.70 



1.70 1896 0.79 



1.37 1897 0.91 



1.40 1898 1.03 



1.73 1899 0.78 



1.40 1900 0.81 



1.34 1901 0.81 



1.36 1902 0.85 



1.37 1903 0.81 



1.37 1904 0.87 



1.25 1905 0.90 



1.07 1905 0.85 



1.00 1907 0.94 



0.94 1908. ...... 0.99 



0.96 1909 1.13 



0.97 1910 0.96 



0.91 1911 0.96 



0.97 1912 1.05 



1.13 1913 0.96 



0.91 1914 1.05 



0.79 1915 1.61 



As an instance of high prices and violent fluctuations during war times and for some 

 time after the declaration of peace, readers are requested to examine the above table 

 for the period of the Napoleonic Wars and the two years following them, viz. 1800-1817, 

 also the period 1812 to 1815 of our war with the United States. Note the fluctuations 

 from the opening of the century: $3.62 a bushel to $1.80, $3.86, $2.01, $2.92; the 

 latter being the price for 1817. 



Prices then fell rapidly to $1.37 in 1822, rose in 1825, and fell again lower in 1835, 

 when there was a large British crop, but soon climbed again in 1839 to $2.16, declined 

 from that until 1843 and 1844, when large British crops brought wheat to $1.52 and 

 $1.55 respectively and the same prices the following year. In 1846 there was a bad 

 harvest and potato diseases; in 1847 was the Irish famine, followed in 1848 by another 

 bad harvest. In 1849 the Repeal of the Corn Laws became effective and there was a 

 decline gradually until in 1851, $1.17 was reached, and in 1852, $1.23. 



Now came the Crimean War in which Great Britain, France, Italy, Russia, and 

 Turkey were engaged, initiated in 1853, ended by the signing of the Articles of Peace 

 in the winter of 1856. The prices for these years were $1.61, $2.19, $2.27, and $2.10 

 respectively, and in 1857, the price was as high as $1.71. 



The Italian War in 1859 caused a rally which ran into the beginning of the American 

 Civil War, 1861 to 1865. Then, however, the prices only advanced during 1861 and 

 1862. In 1863 and 1864 there were two big British harvests, followed in the next 

 two years by wet harvests and then by a drought in 1868, bringing wheat for two 

 years to $1.95. In 1866 there was the war between Prussia and Austria. In 1869 the 



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