364 
The American Cattle Trade. 
they are estimated for the present year at ahout half a million, 
with the prices, gold basis, standing just about as they did in 
1856. There has been, however, a considerable fluctuation in 
the prices during these years, and other facts worthy of note. 
In 1860 the receipts were 227,000, and the average price for 
the year only 4c?. per lb. At that time New York State ranked 
first in the sources of supply for this market. In 1865 the re- 
ceipts were 273,000, and the price, under war pressure, reached 
the highest figure ever known, 86?.* During the early part 
of that year (1865), cattle were sold in New York at 13^6?. 
per lb., estimated dressed weight, and the United States Govern- 
ment bought immense quantities of beef under contract at Is. 
Later the same year the contract price fell to 86?. The source 
of supply had so changed by this time, that half the total 
receipts were credited to Illinois and States farther West, New 
York being next in order. In 1868 New York State still held 
the second place, and Texas contributed 10,000 beeves. In 
1870 the receipts were 356,000, and the average price declined 
to 7c?., and New York became the fifth in source of supply, 
Texas* furnishing twice as many as the home State. In 1874 
the price had fallen to 6c?. ; and of 451,000 cattle received, 
Illinois was credited with supplying one-half, Texas 75,000, and 
even the far-distant Colorado became the rival of New York, 
each giving about 13,000. In 1875 and 1876 respectively, the 
receipts were 453,000 and 470,000, and the average price 5^6?. 
and 4|c?. per lb. During the first half of 1877, the receipts of 
beeves were reported at 246,000, and the average price had 
advanced to 41s. 9Jc?. per 100 lbs. 
It must be understood that in the New York market beef- 
cattle are sold at their estimated dressed weight, the merchantable 
beef only being from 56 to 58 per cent, (in some cases 59 per 
cent.) of their live-weight. A steer whose live-weight is 1000 
pounds, is reckoned to weigh only 560 lbs., but the buyer gets 
the whole animal. The prices above quoted are in United 
States currency, and the relative value of the paper dollar and 
the gold dollar at the different dates must not be overlooked 
— in 1865 when beef sold for 12^6?. per lb., this meant 6c?., 
or less, in gold. Excluding the period affected by the war, 
the general average price of dressed beef in the New York 
market has been from 4^6?. to 5Jc/. per lb., gold, for twenty 
years, and has ranged between those limits for the last eighteen 
months, standing at 5fc?., gold, the first week in July. The 
* These prices and those immediately following, which are calculated from 
the United States paper currency, are subject to certain deductions, as explained 
by Professor Alvord further on, to bring them to the true value of our 
money. — Edit. 
