PRICES OF FARM PRODUCTS. 



13 



Wool is in special demand in war time for soldiers' clothing, so 

 that during each war period the supply has been inadequate and the 

 price has gone very high, much above the general wholesale price 

 level. The reaction is also extreme. 



WHOLESALE PRICES OF CORN 



2 CO 



Fig. 5. — Prices ofLcorn, Civil War and World War periods, and wholesale prices of "all commodities" 

 during the Civil War. Five-year average before the war is in all cases 100. When the Civil War corn 

 price is above the line for all commodities corn was relatively high in price. When below that line it 

 was relatively low. 



Butter, cheese, and eggs did not rise as soon as did the general 

 price level during the Civil War period. The number of animals per 

 capita was reduced. After the war the high wages caused an increased 



WHOLESALE PISCES OF WENTER WHEAT 



i.J_L 



U_L 



1 1 I I I I 



111 



1861 1862 1863 1864 1865 1866 1367 1868 1869 1870 1871 1872 1873 1374 1875 1876 1877 1878 

 1914 1915 1916 1917 1918 1919 1920 1921 



Fig. 6. — Prices of wheat, Civil War and World War periods, and wholesale prices of all commodities during 

 the Civil War. Five-year average before the war is in all cases 100. 



demand for the short supply and resulted in relatively high prices for 

 these products for a number of years. 



The prices of hogs for the Civil War period (fig. 11) show the 

 cycles of over and under production of hogs varying about the general 

 price level. 



