- 65 - 
It will be seen from the foregoing that the pessimistic reports 
originalh' circulated, which stated that the harvest would scarcely yield 
a quarter of the usual result, were exaggerated. On the other hand, 
it is confirmed, beyond a shadow of doubt, that the result of the 
harvest will be essentially lower than that of last year. For this 
reason it may be accepted that the present value of the article, which 
rests on a sound basis, will be maintained. But if speculative pur- 
chases should be made on a large scale, the possibility of a further 
advance of the prices is not excluded; the latter are no doubt high, as 
compared with the ruinous values of 1898, 1899 1900, but not 
by any means abnormal; they are such, that under ordinary conditions 
they leave a fair profit to the producers. 
The following comparative summary shows the approximate average 
values of crude American oil during the last 13 years, and may be 
of assistance in judging the present state of the prices: 
Va 
I St 
October 
1890 
about 
$ 
2,50 
per lb. 
J St 
J? 
I89I 
2,70 
77 77 
I St 
1892 
J? 
57 
3>oo 
77 77 
I St 
1893 
5J 
77 
2,80 
7? 7? 
jSt 
>J 
i8q4 
?5 
77 
2,20 
77 77 
I St 
1895 
J5 
77 
2,00 
77 7? 
I St 
7J 
1896 
?J 
77 
1,70 
77 77 
I St 
}y 
1897 
JJ 
77 
1,80 
7? 77 
JSt 
1898 
J7 
77 
1,00 
77 77 
I St 
5 J 
1899 
J5 
77 
0,80 
77 77 
|St 
J? 
1900 
5? 
77 
0,90 
7 7 7 7 
I St 
J? 
1901 
J5 
77 
7 7 77 
I St 
?7 
1902 
77 
2,00 
Before this Report went to press, a sudden change in the value of 
peppermint oil took place on the American market. Prices were driven 
up every day by some leading parties, and in less than two w^eeks 
attained the level, never known before, of $ 5 per lb. Quite in a 
secret way a syndicate had been formed, which brought under his control 
nine tenth of the whole crop, and which dictated the prices to the 
surjorised dealers. 
There is no doubt that under such unusual circumstances the 
abnormal price of $ 5. — is not and will not be paid willingly, but 
only in case of absolute necessity. All consumers of peppermint oil, 
being seriously prejudiced by such an unexpected and unjustified 
manoeuvre of speculators, should unite in mesures against them and 
in the next time buy only from hand to mouth. 
Every body interested in the article will do well to restrict his 
purchases to the utmost limit. For the present it is very difficult to 
5 
