The Middleman in Agriculture. 
63 
Vear. 
1839 
Bread per 4 lb. 
d. 
. 8* . 
Price of wheat per 
s. d. 
70 8 
1849 
G 
44 3 
1859 
. 5* . 
43 9 
1887 
• n • 
36 4 
1893 
. 5* . 
25 5 1 
This statement is of interest in more than one way. Firstly, 
it gives a standard price (5^d.) of the 4 lb. loaf at the present 
time. The figures which have already been cited of the quota- 
tions of bread in various parts of the country show that this is 
not a very simple matter. Mr. Chadwick states that “ the 
price to-day (February 21, 1893) of the best household bread at 
the counter in 100 of the best bread-shops in London is h\d. 
per 4 lb.” More striking than this, however, is the evidence 
given by Mr. Chadwick’s figures of the lack of relationship 
between the price of bread and the price of wheat. The current 
average price of wheat at the time of writing is 25s., while 
the price of bread is 5 \d. But in 1859 the price of bread was 
the same, while the price of wheat was 70 per cent, higher. In 
1887, when the price of wheat was 11s. per quarter more than 
now, the price of bread was fcZ. less ; and, again, in 1849, when 
wheat was practically at the same price as in 1859, bread sold 
for \d. more. But the most startling comparison is that between 
1839 and 1893 ; for we find that, whereas wheat has fallen during 
the interval 65 per cent, in value, bread has fallen only 35 per 
cent. In fact, relatively to wheat, bread was cheaper in 1839 
than in any other of the years mentioned. 
It ought perhaps to be mentioned that the fact that the price of 
bread has not fallen with the fall in wheat is denied. A corre- 
spondent of The Times, writing as “ the chairman of one of the 
leading bread companies,” st ated, “ from the experience of a close 
connection with the trade, that the price of best bread at this 
time last year was 6\d. per 4 lb. loaf, against 5 \d. at the pre- 
sent time” (February, 1893.) He added that “ this reduction 
of Id. is equal to 7s. 9d. per sack of flour, whereas the average 
price of the latter is only 7s. 3d. less than it was at the same 
time last year.” “This,” he continues, “ will clearly prove that 
the reduction in the price of bread is even greater than the 
reduction in the price of flour ; and this is the case with all the 
principal producers of bread in the Metropolis.” 
The remarkable range in the price of bread at any given 
time is explained with some plausibility by the allegation that 
it is due to the different qualities of flour used. Thus the 
1 For week ending Feb. 25, 1893 ; the average was 24 s. 9 d. for week ending 
March 18, 1893. 
VOL. IV. T. S. — 13 
F 
