XI. The Costs of Sea Transport in proportion to 



Values of Cargoes. 



By A. W. Flux, M.A. 



Received and read March 9th, 1897. 



Among the many causes which have been assigned for 

 the extraordinary and persistent fall in general prices 

 during the past quarter of a century, some considerable 

 prominence has been given to the cheapening of trans- 

 port. There can be no doubt that the railway and 

 the steamship have contributed in no small degree to 

 enabling raw products to reach our shores in abundance, 

 and to distributing cheaply the products of our mills, 

 factories, mines, &c. It is worth inquiry, however, to 

 what extent the reductions in cost of carriage have 

 directly contributed to the fall of prices. The importance 

 of this element is by no means entirely disposed of, even 

 were it proved that the whole costs of handling and 

 transmission of goods had been reduced far less in 

 proportion than prices have fallen. To this point I shall 

 return later. At present it is sufficient to note that it 

 is important to determine, if possible, what proportion 

 of the fall in prices has been offset by a reduction in 

 the costs of transportation. 



May 20th, 1897. 



