SALE VALUES 



179 



the Atlantic seaboard. This made it possible to market cheaply 

 the splendid white pine of Michigan, Wisconsin, and Minnesota 



248 



207 



1860 1870 1880 1890 1900 1910 



Fig. 13. The Cost of Living and Lumber Prices 1860-1920 



1920 



so rapidly that the market was glutted. From the bottom of this 

 depression in 1879 there was a gradual rise until 1883 as it became 

 more and more apparent that the Lake States white pine was not 

 inexhaustible. In fact the increasing cost of buying and logging 

 led to the development of the southern pine region which in turn 



