BULLETIN 999, U. S. DEPARTMENT OF AGRICULTURE. 
highest price level was reached after the war closed, and in each case 
there was an extremely violent drop in prices. 
Table I. — Index numbers of wholesale prices in the United States. 1 
[Five-year average, Aug. 1909-1914,, equals 100.] 
Year. 
Index | 
No. 
Year. 
index 
No. 
Year. 
Index 
No. 
Year. 
Index 
No. 
1791 
107 
113 
119 
1824 
108 
110 
109 
109 
104 
103 
100 
106 
108 
106 
99 
114 
127 
126 
121 
126 
108 
107 
99 
94 
94 
95 
98 
98 
93 
91 
94 
98 
95 
101 
104 
104 
104 
: 1857 
104 
94 
92 
92 
93 
109 
137 
176 
200 ! 
176 ! 
159 
148 
142 
131 
125 
128 ': 
127 
123 j 
118 
109 ! 
102 ; 
93 ! 
89 
99. 
97 
100 
98 
92 
86 
85 
85 
87 
87 1 
1S90 
85 
1792 . 
1825 
18S8 
1891. . 
85 
1793., 
. 1826 
| 1859 
1892 
80 
1794 
1827 
, I860.. . 
1893. 
80 
1795 . .. . 
158 
1828 
i 1861 
1S94. 
73 
1796 
1829 
1862 
1895. . 
71 
1797 
170 
167 
160 
1830 
i 1863 
1896 
68 
1798 . .. . 
, 1831 
1832 
: 1864 
1897. ... . 
68 
1799 
1865 
1898 
70 
1800 
1833 
1866 
1899 
77 
1801 
170 
140 
144 
154 
159 
155 
147 
143 
1834 
1867 
1900 .. . 
84 
1802 
1S35 
1868 
1901 
82 
1803 
1836 
1 1S69. 
1902 . . 
85 
1804... 
1837 
183S 
, 1870 
1903 
86 
1805 
1871 
1904 
85 
1806 
1839 
1872 
1905 
87 
1807 
1840 
1873 
1906 
92 
1808 
1841 
L842 
1843 
1874 
1907 
98 
1809 
' 1875 
1908 
93 
1810-,, 
1811 
165 
160 
162 
189 
235 
185 
157 
159 
155 
137 
117 
112 
115 
110 
: 1876 
1909 
96 
1S44 
1845 
1848 
1S47 
1848 
1S49. . . 
1 1877 
1910 
99 
1812 
'■ 1878 
19U 
98 
1813 
: 1879 
i 1880 
1 1881 
j 1882 
; 1883 
! 1884 
i 18S5 
1886 
1912 
101 
1814.... 
1913 
102 
1815 
1914 
102 
1816... . 
1915. - ... 
102 
1817 
1850 
1851 
1852 
1853 
1854 
1855 
1886 
1916 
126 
1818 
1917 
1918 
1919 
1920 
178 
1819 
200 
1820 
219 
1821 
; 1887 
1888 
1889 
250 
1822 
1823 
1 American Statistical Association, New Series, No. 120, p. 846, December, 1917. U. S. Bur. Labor 
Bui. 173, p. 137, and later reports. 
Note. — All index numbers are recalculated so that the five-year average before tbe wax, August, 1909, 
to July, 1914, equals 100. Some of the original data are given on an 1860 base. Data for 1899 and 1891 
are given on both bases. When I860 eauals 100 the average for 1890 and 1891 is 92.25. When August, 
1909, to July,1914, equals 100 the average for 1890 and 1891 is 85.05. Data with 1860 as a base are there- 
fore divided by 92.25 and multiplied by 85.05. 
In many calculations in this bulletin one more decimal place was carried than is published. In some 
cases this makes an apparent discrepancy. Lor example, 103.4-7-99.6=103.8. The figures published would 
be 103, 100, and 104. 
The rise in prices during the World War was much the same as 
during the Civil War period, but continued longer after the close of 
the war and resulted in a more violent drop than occurred after 
either the War of 1812 or the Civil War. 
After each of the previous wars a very violent drop in prices 
occurred, followed by partial recovery and somewhat stable prices 
for a year or more, then again followed by a longer but less violent 
drop and again followed by a period of somewhat stable prices. 
Prices by months for the World War period are given in Table II. 
Based on five-year averages before the war as 100, prices during the 
World War period reached a maximum of 276 in May, 1920, then 
dropped to 151 in June, 1921. The drops for each month were as 
follows : 
