Jasper County Democrat, Volume 19, Number 68, Rensselaer, Jasper County, 22 November 1916 — PRICES FIFTY YEARS AGO [ARTICLE]

PRICES FIFTY YEARS AGO

The present widespread discussion of the high cost of almost all commodities, especially foodstuffs, serves to recall the fact that high as present prices are, they have been exceeded at various times in the past. In the early part of May, 1867, spring wheat flour* sold at wholesale in the Chicago market at $12.50 to sls a barrel and white winter wheat flour at sl6 to $16.50. Retail prices were about $1.50 to $2 a barrel higher. Winter wheat flour from Nashville, Tennessee, sold at $18.50. During the first ten days of May, 1867, spring wheat sold in round lots in Chicago at $2.75 to $3. One car on track sold at $3.05, and one car in bags at $3.10 delivered. A Chicago miller sold 20,000 bushels choice milling wheat to an interior Illinois miller, for which he received a check for $60,000. Gold at that time was worth $1.35 to $1.36 in “greenbacks,” which would make the relative price on a gold basis about $2.20.

In November, 1864, corn sold up to $1.41% a bushel, and in May, 1867, oats sold at 90 cents a bushel. Hams were salable at 20 to 25 cents a pound. Live hogs at times reached $11.50 to sl3 per 100 pounds, and dressed hogs in season at $13.50 to $15.50 per 100 pounds. On the other hand, there were times when prices ruled decidedly in favor of the consumer—when farm products were on the “bargain counter” and farming was unprofitable. In August, 1858, good cattle at Chicago sold at $2 to $2.25 per 100 pounds. A year later spring wheat sold at 48 to 53 cents; white corn sold at 62 to 63 cents, and oats at 28 cents. In October, 1861, corn sold at 17 to 20% cents a bushel, according to quality. In June, 1861, oats sold at 13 cents. In 1895, regarded as the year of general depression, good brands of spring wheat flour sold at $3 to $3.50 a barrel and winter wheat flour at $2.25 to $2.65. Wheat sold as low as 48 3-4 cents a bushel, and the range for the year was 48 3-4 to 85 3-8 cents. Corn sold as low as 19% cents a bushel, while oats touched a low price of 14 3-4 cents. In 1896, mess pork declined to

$5.50 a barrel, and the range for the year was $5.50 to $10.85. Lard declined to $3.05 per 100 pounds. At the present time the freight on flour from Chicago to New York is about one-eighth that reported years ago.—New York Post.