Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm LifeFairchild, Geo. T. (George Thompson)
Science
Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life
Fairchild, Geo. T. (George Thompson)
Agriculture -- Economic aspects; Economics
_Explanation._—This chart is intended to show the tendencies of the market
for wheat from month to month throughout the market year. In the center is
given the averages of highest prices and of lowest prices for each month
in the New York Produce Exchange during the period from September, 1878,
to August, 1897, inclusive. The horizontal lines between the averages of
extremes give the average price for the twenty years in the several
months. The diagonal lines give for each month the extreme fluctuation
during the twenty years. Above the lines of averages are given the
fluctuations by months in the year 1881-2, the year of highest prices. The
upper of the two continuous lines gives the top prices of the month and
the lower the bottom prices. The short horizontal lines give the average
price for each month; and the double horizontal line across the chart
represents the average price for the year. Below, the fluctuations in
wheat prices for 1894-5, the year of lowest prices, are shown in the same
way. At the top of the chart are given, in millions of bushels, the
receipts of wheat in New York. The shaded double column in the center
under each month gives the average receipts for twenty years. To the left,
a single column shows the receipts for 1894-5. To the right, a single
column gives the receipts for 1881-2. Since the receipts at New York are
chiefly for export, the general correspondence between receipts and prices
is rather a result of a larger application of supply and demand than an
exposition of it. The chief use of the chart is to show the fluctuation of
prices under varying local conditions. The figures on the left give the
price per bushel, and the figures on both left and right at the top
indicate millions of bushels.
CHART NO. 8
[Chart.]
Chart VIII. Prices of wheat in England, 1300-1890. Page 93.
_Prices of wheat in England for 600 years, 1300 to 1900_
_Description._—This chart is to show at a glance the history of the wheat
market in England for the past six hundred years. The record of the first
four hundred years is taken from Rogers’ “Agriculture and Prices.” That
for the eighteenth century, less complete, is taken from Schoenhof’s
“History of Money and Prices.” The nineteenth century record is from the
report of the statistician of the United States Department of Agriculture.
All are reduced with care to the basis of bushels and dollars and cents.
The figures on the right and left show the price per bushel in United
States money.
Public-domain text, read in full here on John Shaqi.
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