hMnence of Credit on Prices 



45 



In the crisis of 1857 in England, prices of minerals fell early 

 and rose late. This tendency is less pronounced in the later crises. 

 In fact, in the crisis of 1890, minerals fell late and rose early. 

 The average result for the five crises also gives a late fall and 

 early rise. In the earlier period, promotion in minerals was ex- 

 tensive, but in the later years foreign competition was greater in 

 textiles.^ From the crisis of 1866 on, the textiles became promi- 

 nent and on the average fell early and rose late. 



Table XLVIII 

 United States 



Groups Having Greatest 

 Spread of Prices 



Crisis of 1848 — 



Fuel and lighting 



Clothing 



Miscellaneous .. . 

 Food 



Crisis of 1857^ 



Fuel and lighting 



House furnishing goods . 



Metals and implements. 



Miscellaneous 



Criiis of i8j3 — 



House furnishing goods . 



Food 



Fuel and lighting 



Clothing. 



CfHsis of 1884 — ■ 



Drugs and chemicals 



/ Fuel and lighting 



\ Miscellaneous 



Metals and implements 



Crisi'i of /8pj— 



Food 



Metals and implements 



Clothing. 



Lumber and building materials 



Recovery 

 by Classes 



2 

 1 



2 

 1 



E 



2 

 2 

 E 



E 

 E 

 1 

 E 



2 

 1 

 2 

 2 



1 

 2 



2 

 2 



Average of Five Crises — 



Fuel and lighting 



House furnishing goods 



Food 



Miscellaneous 



Clothing 



Metals and implements 



Drugs and chemicals 



Lumber and building materials 



^It is very probable that metals will be found to have played a more 

 important part than usual in England in the crisis of 1900. 



85 



