. A comparison of prices during the civil war and present war. Price section. Division of planning and statistics. War industries board. November, 1918 . war they rose rath-er rapidly until January, 1867. The break which occurred thenwas temporary, and the rising trend was resumed until the panic of1873 caused widespread unemployment. One other important fact may be added. The break in wholesaleprices between January and July, 1865, though unprecedented in vio-lence and accompanied by the unsettling influence of the ending of agreat war, produced no business crisis or depression. Indeed, busin
. A comparison of prices during the civil war and present war. Price section. Division of planning and statistics. War industries board. November, 1918 . war they rose rath-er rapidly until January, 1867. The break which occurred thenwas temporary, and the rising trend was resumed until the panic of1873 caused widespread unemployment. One other important fact may be added. The break in wholesaleprices between January and July, 1865, though unprecedented in vio-lence and accompanied by the unsettling influence of the ending of agreat war, produced no business crisis or depression. Indeed, businesscontinued fair in the United States for several years and then becamebrisk in the great speculative movement which preceded the panic of1873. While these developments at the close of the Civil War show thatwage reductions and business demoralization are not inevitable concom-itants of demobilization^ it by no means follows that our experiencein 1919-26 will be like that of 1865-72. The difference in the con-trolling economic factors which forced prices upward in the two warsmay well result in widely different sequels on the return of peace. -6-. 8. A Tabulation of the Relative Prices of 92 CommoditiesDaring the Civil . and Present Far There follows a tabular comparison of the relative pricesof 92 identical ocmmoditisn at wholesale during the Civil War(1860-1866) and the Present Tar (1913-1918). The basic for theohoioe of the particular commodities which follow was the adop-tion of the made in (Jjld, Prioes and Wages rudder theGreeribaok Standard1 by Wesley C. Kit one 11 ( 1908),from the report on Wholesale Prices, Wagoo and Transportationby Mr- Aldrioh from the Committee on Finance, March 3, 1893.(Senate Report No. 1294, 52nd Congress, 2nd Seeaicn, Part II).Twenty-nine of the 92 aeries represent commodities for whichaverages of two or more quotations were lieed, and the remain-ing 63 series represent commodities for which but one quota-tion was avail
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