PRICES OF FARM PRODUCTS. 
13 
Wool is in special demand in war time for soldiers' clothing, so 
that during each war period the supply has been inadequate and the 
price has gone very high, much above the general wholesale price 
level. The reaction is also extreme. 
WHOLESALE PRICES OF CORN 
300 
250 
200 
150 
100 
50 
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J. A.J. O.J. A.J. O.J. * J O. J A J O.J. A J 0. J.A.J. O.J. A.J J. A J.O.J. A. J. O.J. A. J. O.J. A J.O.J. A.J. O.J. A J O.J. A J O.J. A J. O.J. A. J O.J AJ OJ.A.J 
1861 1862 1863 1864 1865 1866 1867 1868 1869 1870 1871 1872 1873 W74 1875 1876 1877 1878 
1914 1915 1916 1917 1918 1919 1920 1921 
Fig. 5.— Prices of corn, Civil War and World War periods, and wholesale prices of "all commodities'! 
during the Civil War. Five-year average before the war is in all cases 100. When the Civil War corn 
price is above the line for all commodities corn was relatively high in price. When below that line it 
was relatively low. 
Butter, cheese, and eggs did not rise as soon as did the general 
price level during the Civil War period. The number of animals per 
capita was reduced. After the war the high wages caused an increased 
WHOLESALE PRICES OF WINTER WHEAT 
250 
200 
150 
100 
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1861 1862 1863 1864 1865 1866 1667 1868 1869 1870 1871 1872 1873 1874 1875 1876 
1914 1915 1916 1917 1918 1919 1920 1921 
J A J O J A J 
1877 1878 
Fig. 6.— Prices of wheat, Civil War and World War periods, and wholesale prices of all commodities during 
the Civil War. Five-year average before the war is in all cases 100. 
demand for the short supply and resulted in relatively high prices for 
these products for a number of years. 
The prices of hogs for the Civil War period (fig. 11) show the 
cycles of over and under production of hogs varying about the general 
price level. 
