Index Numbers of the Prices of Commodities in 1893. 171 
“ To maintain an adequate supply of timber, to protect existing 
forests, renew old ones, and plant new ones, is,” argues Dr. Masters, 
“ an urgent duty upon us as cultivators.” He quotes the opinion of 
Dr. Schlich, to the effect that out of the total area of 26,757,000 acres 
of waste lands in Britain, it may be assumed that at least six millions 
would be suitable for tree culture. “ Large tracts in Ireland and 
the Hebrides now unproductive might be planted ; and it is all the 
more desirable that this should be done, as the prospects of a con- 
tinuous importation of timber from Canada and Northern Europe, 
whence at present we derive our principal supplies, are by no 
means assured.” 
W. Fream. 
12 Hanover Square, W. 
INDEX NUMBERS OF THE PRICES OF 
COMMODITIES IN 1893. 
The subjoined communication from Mr. Augustus Sauerbeck 
appeared in the Times of January 15, 1894. A definition of 
“ index number ” is given on p. 396 of last year’s volume of the 
J ournal, in the course of a note 1 by the same writer. It is evident 
that but for the strike in the coal trade, which led to high prices 
for coal, the index number for 1893 would have been lower than 
that for any previous year : — 
“ I have much pleasure in giving you the result of my index 
numbers of the prices of forty-five commodities (1867—77 = 100) 
1873 
. Ill 
1885 . . . 
. . 72 
1890 . . 
. . 72 
1879 
. 83 
1886 . , . 
. . 69 
1891 . . 
. . 72 
1880 
. 88 
1887 . . . 
. . 68 
1892 . . 
. . 68 
1883 
. 82 
1888 . . . 
. . 70 
1893 . . 
. . 68 
1884 
. 76 
1889 . . . 
. . 72 
“The index number for 1893 is as low as for the preceding year 
and 32 per cent, below the standard period, 1867-77. The articles 
comprised in the group of corn, which in 1892 had declined almost 
uninterruptedly, followed again a downward course, and their 
average is nearly 10 per cent, under the previous year, the prices 
of wheat and rice being the lowest of the century. Animal food 
did not show much change on the average, while sugar rose till 
June, falling afterwards, and closing lower than a year ago. 
Brazil coffee ruled distinctly higher, but tea remained on a low 
level. Minerals were on the whole rather cheaper ; iron did not 
move much — independently of the corner for Scotch pig in 
February ; but tin, copper, and lead were lower. Coals were very 
1 Prices of Comviodities during the last Seven Years (1886-92). By Augustus 
Sauerbeck. Journal, 3rd Series, Vol. IV. Part II., 1893, pp. 394-104. 
