46 



Minnie Throop England 



In the United States fuel and lighting in the early crises showed 

 a tendency to fall first and rise last — the sign of overproduction. 

 In the later crises the reverse tendency is seen, due, probably, to 

 a greater power of contracting business and adapting supply to 

 demand. Clothing shows a uniform tendency in the direction of 

 an early fall. In the earlier crises the recovery was also early, 

 but later on recovery became slower, more like the movement of 

 textile prices in England. Either the textile trade is more specu- 

 lative than formerly, or the raw materials fluctuate more be- 

 cause of foreign markets and tariffs. It is well known that the 

 tariff fight is especially about textiles. The prices of raw mate- 

 rials (see table XXII) have shown a greater spread in th« latei 

 crises than in the crisis of 1857. 



Table XLIX 



Germany 



Groups Having Greatest 

 Spread of Prices 



Crisis of 1857— 



Tropical, etc 



Agricultural products 



East India goods, etc 



Minerals and metals 



Crisis of 1866 — 



Divers 



Textile materials 



British exports 



Minerals and metals 



Crisis of iSjj— 



Minerals and metals 



Divers 



Textile materials 



British exports 



Crisis of 188 j 



Agricultural products 



Divers 



Textiles 



Tropical, etc 



Average of Four Crises — 



Divers , 



r Minerals and metals 



\ Agricultural products 



Textiles 



Tropical, etc , 



British exports 



East India goods, etc 



Animal products 



86 



Fall 

 by Classes 



Recovery 

 by Classes 



