38 



Minnie Throop England 



The order of price decline in England takes the form, vege- 

 table food, textiles, sugar, tea and cofifee, minerals, sundries and 

 animal food. Clothing, in the United States, is first to fall, then 

 drugs, metals, building materials, house furnishing goods, food, 

 fuel, and miscellaneous articles. In Germany divers articles fall 

 first, then textiles (the three countries agree in an early fall of 

 textiles), East India goods and British exports fall together, fol- 

 lowed in turn by minerals, tropical products, agricultural prod- 

 ucts, and lastly animal products. 



Here again in the fall of prices, it seems impossible to detect 

 any characteristic order. It is the continued fall of the general 

 level of prices and not the fall of any group of commodities 

 which is prophetic of the approach of a crisis. 



Table XXXVIII 

 Maximum Point of Prices of Three Groups of Commodities by Ranks 



Crisis 



England — 



1857 



1866 



1873 



1883 



1890 



1900 



Total 



Final Rank 



United States — 



1848 



1857 



1873 



1884 



1893 



1903 



Total *. ... 



Final Rank 



Germany — 



1857 



1866 ■ . . . . 



1873 



1883 



1891 



Total 



Final Rank 



78 



