OCR Text |
Show WAR PRICES OF WHEAT. Wheat has made a new high record and the end is not yet. Nevertheless, $1.67 appears quite moderate as a war price, when we take fl glance back over the history of war prices. At the outbreak of the American Revolutionary war the price of wheat was low and made little advance until after the war closed. In 178S the average av-erage price at the seaboard was 93 cents, but the price increased yearly until 1"96, with an average of $2.4S, the highest level being $3, and continued contin-ued with a high average owing to the French revolution, the Napoleonic wars and our own war of 1312. After Water loo there was a break, but in 1817 wheat was selling at $2.85. Two years before the Crimean war wheat was selling as low as 3S cents, but after the war started in 1854 the price began to rise and reached $1.85 in 1855. Just before our Civil war the price was around 62 cents, but it had risen to $2.23 in 1S64. There was a break at the conclusion of the war to 74 cents early in 1865, but this was followed by a violent advance to $2.85 in the spring of 1S67. In the Franco-Prussian war of 1870-71, 1870-71, prices increased from 74 cents to $1.60. In the Eusso-Turkish war of 1876-78 the price rose from 83 cents to $1.76. There was tho usual break after the war, wheat falling to 77 cents, but the price rose to $1.44 in 1SS2. In 1S97 the price was 63 cents. As a result of the Loiter deal and the Spanish-American war, wheat was selling sell-ing at $1.83 for May and $1.25 for July in May, 1S93. There was a relapse to 63 cents before the end of the conflict. con-flict. High prices were also recorded during dur-ing the Russo-Japanese war of 1904-6, when the topmost pr.ee was $1.21. In the middle of last July the price was 84.5 cents, May option, but there has been a more or less steady riso ever since, and wheat is now selling around $1.66 and $1.67 for the May option. |