WHOLESALE PRICES OF FARM PRODUCTS DURING THE CIVIL WAR 

 AND WORLD WAR PERIODS. 



Wholesale prices of a few farm products for the two war periods are shown in 

 Tables X to XVI, pages 29 to 35. Curves for some of these are given in figures 

 5 to 11. 



To see whether the Civil War prices for a particular farm product were really 

 high or low they may be compared with the wholesale prices of all commodities 

 for that period, as given in Table I and shown in figures 5 to 11. For the World 

 War comparison may be made with the general price level as shown in Table II. 

 For example, the quotation for No. 2 corn in Chicago in April, 1921, was 94 per 

 cent of the five-year average price before the war. The general price level as 

 shown in Table II was 157 per cent of the five-year average before the war. 

 Corn was very cheap. 



As explained on pages 17 to 18, wholesale prices do not show conditions on 

 farms, but since farm prices are not available for the Civil War period, whole- 

 sale prices are used. 



In times of violent price changes, prices should be compared by months, but 

 the Aldrich report gives prices by quarters only. It would be very desirable to 

 have an index number for wholesale prices and for individual commodities by 

 months for the Civil War period. 



The data for the World War period can be continued by using the average of 

 the high and low prices as given in the Monthly Crop Reporter. The index 

 number is obtained by dividing the price for a given month by the five-year 

 average before the war, for the month under consideration as given at the head 

 of each table. 



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