LIBRARY University of California. GIFT OF \...a..^l Q<^. omoogoooino© OCMO°£OOOWroO ©COOO©inOO — CQ© S* ** »f cC >n — eodinoom CMC0'>>r2"9"O05T»cnCM SS! o©o©©©o©*f — IOO ©©©SJGmooocotN,© lflO» inN .OOWViDOO *" •*• •*» 52 £J » o co t>. oo oo a, cm — cm » «. en r^ t> e» o co *r — © — o co in — o — CO CM CM. — OOOoWlPlOts" © c-C co e» "> o> < " o o en r^ "» 2 ' to cm co en oo en i ia rC r> en i co cm m o en cm o m en en co co <— CO — CM CO C«. ' OOO-OOO-O-Mlfl oooinoococoo— enco oNOnOmoioo'ocow 0)M*-(Doco>in — coro^io pfrCo»inee>»tw — co-jentC «~ cm — co ^ «o * co %* © O © O "» en cC "J co £» co co en to r>. o Ti- o _ r» O O O CO o o o © o Co © r>i o © © in © c» cm coo oir>2 tO lO — CO CM O m cm oo — co in OOOOOOOO' 20 Even a cursory examination of the foregoing statement shows that the average rate of interest demanded by those who supply railway capital has greatly increased. In 1897 and 1898 the largest aggregate of new indebtedness was incurred at the rate of three and one-half per cent per annum; in 1899, 1900, 1902, 1903, 1904, 1905 and 1906 the preponderating portion was at four per cent; in 1907 the largest aggregate was at five per cent, while in the months of 1908 for which data are available the greater portion was obtained at six per cent. Loans at three and three and one-half per cent, which supplied a considerable aggregate during all of the years to and in- cluding 1906 and particularly in the earlier years of the period, had substantially disappeared before 1907 and no funds were procured at less than four per cent during the portion of 1908 which is included. The increased volume of loans at five and six per cent is equally marked. The following table makes this analysis clearer by showing the total borrowings of each year and the percentage at each rate: Rate of Interest and Proportion of Total Indebtedness In- curred D uring Year and Outstanding. Year. Borrowed. ' ~~ • 6% per 6 per 5 per 4% per 4 per 3% per 3% per 3 pet cent. cent. cent. cent. cent. cent. cent. cent. 1897 $493,408,775 ... 2.24 8.54 1.56 41.73 44.92 |.0I 1898 390,803,025 12 1.92 .05 48.08 49.83 1899 505,936,672 .... 2.59 5.77 3.14 54.91 .... 25.05 8.54 1900 215,039,851 53 7.40 3.71 38.94 .... 29.10 20.32 1901 512,559,403 35 7.58 7.38 74.55 .07 10.07 1902 471,578,658 9.53 4.23 73.80 12.44 1903 427,358,965 36 12.54 5.17 74.40 .... 5.22 2.31 1904 325,078,790 08 18.82 9.30 59.53 .... 12.27 1905 635,304,659 28 10.44 11.65 57.38 17.73 2.52 1906 514,638,170 0.07 .23 27.55 7.95 48.78 9.38 6.04 1907 708.351,929 4.28 40.86 25.10 29.70 06 1908* .... 266.281.355 .... 43.00 17.86 1.07 38.07 Total ..$5,466,340,252 0.01 3.25 15.34 8.00 53.49 0.89 16.87 2.15 •January to July, only. The foregoing table shows that while, in 1897, the rail- 21 ways borrowed 87.66 per cent and in 1898, 97.91 per cent of the new capital obtained in the form of loans at four per cent or better they were compelled, in 1907, to promise more than four per cent on 70.24 per cent and in the first six months of 1908, to promise six per cent on 43.00 of their borrowings. The significance of these figures is made still more apparent by the following table which shows opposite the aggregate borrowings of each year, the interest charges thereon and the average rate upon the portion of the capital which it represents : Year. Borrowed. Aggregate Average rate interest charges. of interest. 1897 $493,408,775 $19,258,593 3.90 1898 390,803,025 14,744,141 3.77 1899 505,936,872 19,804,814 3.91 1900 215,039,851 8,073,638 3.75 1901 512,559,403 20,856,559 4.07 1902 471,578,658 19,119,182 4.05 1903 427,358,965 17,561,577 4.11 1904 325,078,790 13,571,945 4.17 1905 635,304.659 25,758,601 4.05 1906 514,638,170 21,964,215 4.27 1907 708.351,929 32.722,081 4.62 1908* 266,281,355 13.431,067 5.04 Total $5,466,340,252 $226,866,413 4.15 •January to July, only. The foregoing shows an increase, in the average inter- est rate demanded upon new loans to railway corporations, from 3.90 per cent in 1897 to 4.62 in 1907 and 5.04 in 1908. The increase in the rate from 1897 to 1907 was equal to 18.46 per cent and from 1897 to 1908 it was 29.23 per cent. In other words one dollar would pay interest on as much of the new capital secured by loans in 1897 as $1.29 would of the loans of 1908. The gross revenue of $105.00 obtained in both years from the typical shipment of fourth class freight between Chicago and New York, at the unchanged rate applicable to such a shipment in both years, would pay interest on $2,692.31 secured in the 22 earlier year and on only $2,083.33 secured in the later year. The loss in power to purchase loaned capital there- fore amounts to 22.62 per cent. In order fully to appre- ciate the importance of this rise in the cost of capital it is necessary to realize that very great sums of new capital are annually required for the necessary augmentation and improvement of railway facilities. This is made evident by the total yearly borrowings as shown in the foregoing tables, but it should be borne in mind that further sums, certainly not less extensive in the aggregate, have been raised through issues of stock, which promise no certain rate of interest, although these sums could not have been obtained unless the subscribers had considered it prob- able that they would, in the long run, receive returns in dividends at least equal to the "going rate" of interest. It is interesting to note that the aggregate of new capital secured by loans in each year has very largely exceeded the total interest payments to all capital obtained by bor- rowing. This is shown by the following table, the data in which, except those as to the sums obtained by loans, are from the reports of the Interstate Commerce Commis- sion: Per cent New capital Interest on of interest Year.* borrowed. funded debt. payments to new borrowings. 1898 $390,803,025 $237,578,706 60.79 1899 505,936,672 241,657,535 47.76 1900 215,039,851 242,998,285 113.00 1901 512,559,403 252,594,808 49.28 1902 471,578,658 260,295.847 55.20 1903 427,358,965 268,830,564 62.90 1904 325,078,790 282,118,438 86.78 1905 635,304,659 294,893,884 46.40 1906 514,638,170 385,337,754 59.33 1907 768,351,929 323,733,751 45.70 Total $4,706,650, 122 $2,709,949,572 67.58 •Accurate data for payments to capital in 1897 are not available. 23 FROM THE VIEW-POINT OF THE PURCHASER OF THE SERVICES. So far the extent and significance of the changes in the value, or purchasing power of money, have been consid- ered from the point of view of those who produce and sell railway transportation. But equally striking changes will appear and similar conclusions are inevitable when recent history is reviewed in the aspect which it presents to those whose earnings are devoted, in part, to the pur- chase of the services which the railways supply. For the important consideration to the wage-earner who wishes to travel by rail or who buys commodities that have been so carried, or to the producer whose products must go to market over railway routes, is not, how much money must be paid for the railway services, but, rather, how much labor must be expended, or what quantity of his goods must be produced, in order to obtain that sum of money. If the earnings of a particular wage-earner have increased from fifty to seventy-two cents per hour, a railway service is cheaper, to him, if it costs twelve cents than it was at ten cents when his earnings were on the fifty-cent basis, for he now procures with the fruit of ten minutes' toil what formerly cost the result of twelve minutes' labor. In Bulletin No. jy, just issued by the United States Bureau of Labor, the official statistician presents data showing the relative wages per hour of many different classes of wage-earners, not including railway employees, in 1897 and 1907. While these data show that wages have almost uniformly advanced (there are ten somewhat questionable exceptions among the 342 classes) the data supplied by the Interstate Commerce Commission show 24 that during the same period average railway freight rates have declined from 7.98 mills to 7.59 mills per ton per mile, or 4.89 per cent. A table presenting and based upon these official statistics and showing the rela- tive wages per hour of the various classes of labor, in 1897 and 1907, the percentage increase in wages-rates per hour and the increased command over railway freight services which these wage-earners have obtained through the combined effect of higher wages and lower ton-mile rates has been made Appendix C, and will be found at pages 89 to 95. In studying the data presented in this appendix it should be borne in mind that the wages are relative and not absolute. They mean, for example, that the average male blacksmith in the agricultural implement industry was paid, in 1907, $1.25 for the same quality and period of labor for which he was paid a little less than ninety-six cents, in 1897. This increase amounted to 30.58 per cent of the wages-rate of 1897, and, combined with a decreased cost of railway freight service of 4.89 per cent, which made 95.11 cents go as far in pur- chasing the latter in 1907 as one dollar would go in 1897, gave him 37.29 per cent greater command over railway freight services. In an earlier bulletin, No. 75, published during the cur- rent year, the Bureau of Labor continued its "index num- bers" which show, in similar manner the average rela- tive wholesale prices of the commodities entering into the ordinary budget of family expenditures. For the purpose of presenting the changes in these prices on a uniform basis the Bureau represents the averages for the ten years from 1890 to 1899, inclusive, as one hundred 25 OF THE UNIVERSITY per cent and reduces the averages for each year to per- centages of the averages for the basic period. The follow- ing table presents these figures for the years 1897 to 1907, inclusive : ass 11 Igf j 111 s S 5 o o Q. M *>3 o 5 J3.2 o Lum and Build Mater £ 5 1 03 a 111 111 2 ° *5 *£ oNtMoiositaooiwio °. S S 5 2 g 2 2 2 ^ a gj ^eJcvirCoJhsVeo — ca — £; 00»OJC»00 — — CM 2! ———————— OC0 010)0 M — — — O — — 0»d-IOIOtNO«- 2 oO>o — — — — — — ooo O*00 08NtS»*tsN-' odnioujioeo-Niso 1 oenoso — — — e^^(NeM'<^■ , OtMOOKMOIOiONt :<*<4-oo>u»c>»mc0coa)o «0)ON-W*WN(0W aaeooON — c4 January 1, January 1 Increase 1908. 1897. 1908. per cent. per cent. Horses $1,867,530,000 $31.51 $93.41 196.45 211.69 Mules 416,939,000 41.66 107.76 158.67 171.97 Milch cows ... 650,057,000 23.16 30.67 32.43 39.24 Cattle, except milch cows . . 845,938,000 16.65 16.89 1.44 6.65 Sheep 211,736.000 1.82 3.88 113.19 124.15 Swine 339,030,000 4.10 6.05 47.56 55.14 Total $4,331,230,000 In considering the foregoing the fact that the prices relate solely to animals on farms should be borne in mind. They are doubtless somewhat lower than for animals elsewhere located but prices of the latter have probably moved in the same direction and in about the same extent. Detailed tables showing the prices of farm animals by States, as these prices were reported to the United States Department of Agriculture for January i, 1897, and Jan- uary 1, 1908, with the increases and increased command over railway freight service are to be found at pages 102 to 106, in Appendix E. RAILWAY RATES IN 1 897 AND AT PRESENT MEASURED IN MONEY. Throughout the foregoing discussion reference has fre- quently been made to what has been assumed to be a typi- cal shipment, that is, a fifteen- ton car-load of fourth class freight transported between Chicago and New York. The typical service rendered in moving this shipment would have brought the railways gross receipts of $105.00, in 1897 or in any of the intermediate years, and would bring the same amount now. The period in question, however, has witnessed many thou- sands of changes in railway rates on particular 31 commodities and between particular points and, confin- ing the discussion for the present to the mere expression of rates in terms of money, it is necessary to inquire whether the general level of all rates has been raised or lowered and how far the change, if any is discovered, has gone in either direction. Now, it is manifestly impossible to correlate all rates in a single tabulation and, giving to each its proper weight in the determination of a final aver- age, thus establish definitely and with complete precis- ion the relation between the money rates of 1897 and those of the present time. The number of different articles ship- ped and the great number of different points at which each article may enter into the aggregate of traffic move- ment or to which it may be destined, as well as the elusive character of the factors which would indicate the relative weight properly to be allowed to each separate rate, wholly preclude the adoption of such a method. Fortunately, however, American railway accountants long ago adopted a measure of traffic movement, which was later officially sanctioned by its adoption for the same purpose by the Interstate Commerce Commission, and which, when com- pared with the gross receipts from freight service, results in an average that throws great light upon the move- ment or absence of movement in the general level of the rates charged. When the weight of any shipment, ex- pressed in tons, is multiplied by the distance which it is carried, expressed in miles, the resulting product gives a measure of the service performed, in units which are des- ignated as "ton-miles." When the ton-miles (or ton- mileage) of all shipments are aggregated the total repre- sents the sum of all services. The result of dividing the 32 revenue from a particular shipment by its ton-mileage is the average rate per ton per mile for that shipment and if the sum representing the aggregate gross receipts from all railway freight services is divided by the aggregate ton-mileage of those services the quotient obtained is the average ton-mile rate for all services. During the period from 1897 to 1907 these data have been compiled annu- ally by the Interstate Commerce Commission under the direction of Professor Henry C. Adams, its statistician, who is also one of the most distinguished among Ameri- can teachers of Economics. The average rates thus es- tablished are given both for the United States as a whole and for each of ten districts or groups. The following table shows these averages as they are given in the suc- cessive annual statistical reports of the Commission: 33 o> o torn o> o> — 10 co co — o> r>. r* «* co © — to to rs lO O CO r-s co CO 8 5 CN o CO in CO CO » CO in en § CD ITS ui CO tN CO O CM o in IO ■o CO t>. CO CM en n CO us IO CO co rs Seo r» co co e> en o m co co co o — — CM r^ «* rs fcfi O O c a II G^s c 3d l-a 25 ~3 S^ 8.2 ^1 r J3 CB 53 es a fa ■eg Stft goa ** S- -2 O 3 c o II gS ill in in £^> .3 a » ° -S .at: 2 a Is ,§ 5 00 J £ h e » ■8.8© O CO o ° S 33 E-i o tJ £,& - e eS W 8 3 £ 02 8 : A CC ^ ©4 c 34 The foregoing shows that the average rates per ton per mile, expressed in money, were lower in every group but one, as well as in the whole country, in 1907 than they were in 1897. The average for the whole country was lower in 1907 than in any other year shown except the years 1898 to 1902, inclusive, and for three of those years the difference was less than one-tenth of one mill. The decrease in the general average from 1897 to 1907 was 4.89 per cent and the increase from 1899, the year of the lowest average, was 4.83 per cent. Undoubtedly the ton-mile unit of traffic might change in quality and it has been urged that such a change may be sufficiently rapid to vitiate such comparisons as those afforded by the table last above given. The possibility of this variation and its causes and probable extent are dis- cussed in a report made to the Committee on Interstate Commerce of the United States Senate by Professor Henry C. Adams, statistician to the Interstate Commerce Commission, and Mr. H. T. Newcomb, of Washington, D. C. They said in part : "The number of tons carried one mile over the railv/ays of the United States during a given year is the equivalent of the total number of tons carried of all kinds of freight multiplied by the average distance transported. Dividing this aggregate into the total amount received for freight services. a quotient is obtained which is the average amount received for carrying a typical ton of freight one mile. It is obvious, however, that the unit might fluctuate considerably in char- acter, owing to variations in the proportion to the aggre- gate tonnage of shipments of high and low class freight, re- spectively, or without such variation, from changes in the geographical distribution of the volume of shipments. Thus, if freight of the higher grades should increase, proportion- ately to the total movement, much more rapidly than low- grade freight the quality of the ton-mile unit would become higher and an increase in the receipts per ton per mile, other factors remaining unchanged, would result. "Again, if the volume of movement east of the Missis- sippi river, where the rates are upon the average lower than in the region west of that river, should grow relatively faster than in the rest of the country, the average receipts per ton per mile would show a decrease which would not represent a genuine change in the general level of charges. Changes of this general character and in both directions are going on at all times"* Continuing, Professor Adams and Mr. Newcomb made the following statement concerning the situation as it then existed : "The only testimony on this point before the Committee is to the effect that since 1899 traffic of the higher grades has increased more rapidly than that of lower grades, and that the_ proportionate increase in volume has been greater in the regions where normal rates are higher. Available evidence upon this point is not extensive. It is, however, sufficient at least to warrant the statement that comparisons between the average ton-mile revenue for the railways of the United States during the years 1899 and 1904 affords a maximum measure of the increase in average money rates. The change was from 7.24 mills in 1899 to 7.80 mills in 1904, or 7.73 per cent. It may, therefore, be regarded as certain that during the period in question the general level of railway rates, expressed in money, has not increased more than 7.73 per cent."f The only significant change since the year 1904, which might offset the application of the foregoing, lies in the fact that the average ton-mile rate declined from 7.80 mills in that year to 7.59 mills in 1907. The logic of Pro- fessor Adams and his co-worker in the preparation of the report quoted is just as accurate now as it was when they wrote and it is still true that there can have been no raising of the general level of railway freight rates not disclosed by the average rate per ton per mile. And this average was, as has been noted, lower in 1907 than in 1897 and only slightly higher (less than five per cent) than in the year which shows the lowest average in the history of American railways. *Digest of the hearings before the Committee on Interstate Commerce of the United States Senate, compiled by order of the Committee by Henry C. Adams and H. T. Newcomb. Sen- ate Document No. 244, Fifty-ninth Congress, First Session, p. 77. f Ibid. p. 77- 3* So far as the quality of the ton-mile unit is affected by changes in the geographical distribution of traffic the ten- dency between 1897 and 1907 was toward a higher qual- ity, for traffic movement grew more rapidly in the re- gions where rates are normally higher than it did in the regions of lower rates. In the following statement the groups used by the Interstate Commerce Commission are arranged with the group in which ton-mileage increased most rapidly from 1897 to 1907 at the top, the group that increased next most rapidly in the second line and so on to the group that increased least rapidly at the bottom : _ .... . . .. Average rate per ton Tons of freight carried one mile. Increase, per mile, in mills. Group. 1897. 1907. per cent. In 1897. In 1907 X. 3,133,623,734 11,252,450,440 259.09 12.75 11.63 vn. 2,633,860,958 9,300.234,849 253.10 11.48 9.33 vni. 6,333,591,463 17,406,430,971 174.83 10.79 9.66 m. 17,587,334,609 47,994,909,002 172.39 6.05 5.98 v. 6,802,119,489 17,397,321,360 155.76 8.64 8.27 VL 17,393,471,480 44,318,734,155 154.80 8.55 7.43 IX. 3,165,108,561 7,546,655,555 138.43 10.40 10.51 rv. 4.936.635,046 11,418,243,141 131.30 6.48 7.03 n. 29,579,613,559 63,455,243,659 114.52 6.75 6.55 i. 3,573,663,326 6,511,166,971 82.20 12.02 11.45 United 95,139,022,225 236,601,390,103 148.69 7.98 7.59 States It will be noted from the foregoing that the group in which the average rates were highest in both 1897 and 1907 shows the most rapid increase in traffic movement and that, with few exceptions, the regions of higher rates show more rapid augmentation of ton-mileage. This is exactly what might have been anticipated, for the highest average rates are usually to be found in the regions most scantily populated and, as these regions are filling up and are therefore those most rapidly growing in population and industry, they naturally show the greatest rela- tive increases in freight tonnage. The only not- 37 able exception is furnished by New England, a region of high development but where traffic movement is largely of a character which imposes higher average rates. In the following table, the traffic increase is given for the re- gions that had ton-mile rate averages above and below the average for the whole country, in 1897: Ton mileage. In 1897. In 1907. Increase, per cent. Ton mile rates abOTe the average Ton mile rates below the average .... 43,035,439,011 52,103,583,214 113,732,994,301 122,868,395,802 164.28 135.82 Total 95,139,022.225 236,601,390,103 148.69 The region with rates above the average in 1897 had 45.23 per cent of the total ton-mileage in that year, and 48.07 per cent in the year 1907. Of the total increase in traffic movement 49.98 per cent was in this region. The precise effect that these changes in the geographical dis- tribution of ton-mileage would have had upon the aver- age ton-mile rate for the whole country is shown by the computation set forth in the following table : Group Ton mileage of 1907. Ton-mile rates of 1897 in mills. Product of ton -mileage of 1907 and ton-mile rates of 1897. I. II. in. rv. v. VI. vn. vin. 6,511,166,971 12.02 $78,264,226.99 63,455,243,659 6.75 428,322,894.70 47,994,9«9,»82 6.05 290,369,199.46 11,418,243,141 6.48 73,990,215.55 !7,397,32l,360 8.64 150,312,856.55 44,318,734,155 8.55 378,925,177.03 9,300,234,849 11.48 106,766,896.07 17,406,430,971 10.79 187,815,390.18 7,546,655.555 10.40 78,485,217.77 11,252,410,440 12.75 143,468,743. 1 1 United States. 235,691,390,103 $1,916,720,617.41 By dividing the aggregate of the products in the last column of the foregoing by the total ton-mileage shown in the second column, an average is obtained which rep- resents the ton-mile rate that would have resulted in 1907 3S had the traffic of each group in that year moved in pre- cisely the same volume in which it actually moved and had the average rates in each group been exactly the same as they were in 1897. This shows that, under the condi- tions assumed, the average ton-mile rate for the whole country would have been 8.10 mills or 0.12 mill higher than in 1897. This advance of 1.50 per cent would have been wholly due to the more rapid growth of traffic in the regions of normally higher rates. The chief significance of so small a change in so long a period is, really, to indi- cate that the ton-mile unit, so far from being of rapidly changing character, is actually, at least as far as it might be assumed to be affected by changes in the location of traffic movement, a fairly stable unit and thus an excellent measure of the rise or fall in rates. Whether the same conclusion is to be derived from a study of the changes in the proportion of the total movement made up of com- modities of different grades and naturally taking different rates is now to be made the subject of inquiry. Publication of the classified statistics of tonnage neces- sary for such an inquiry was begun by the Interstate Commerce Commission with the report for the year 1899. Consequently it is not practicable to extend the inquiry to a period prior to that year. The following statement shows the number of tons of freight of each of the classes of commodities named which were received by the rail- ways for transportation in 1899, 1903, and 1907 and the proportion of the tonnage in each class to the total num- ber of tons carried : 39 Tons. Percentage of total tonnage. Class of commodity. 1899. 1903. 1907. 1899. 1903. 1907. Products of agriculture . 50,073,963 61,056,212 77.030,071 11.33 9.56 8.62 Products of animals 13,774,964 16,802,893 20,473,486 3.12 2.63 2.29 Products of mines 227,453,154 329,335,621 476,899,638 51.47 51.56 53.39 Products of forest 48,122,447 74,559,980 101,617,724 10.89 11.67 11.38 Manufactures 59,415,205 91,980,903 137,621,443 13.45 14.39 15.4! Merchandise 19,844,735 29,949,022 34,718,487 4.49 4.69 3.89 Miscellaneous 23,197,155 35,116,027 44,824.123 5.25 5.50 5.02 Total 441,881,623 638,800,658 893.184,972 100.00 100.00 100.00 It should be observed that the foregoing statement represents tons received for shipment regardless of the distance carried and, in consequence, does not throw the light upon traffic movement that would be available if it were possible to know the ton-mileage of each class of commodities. Nevertheless, the data undoubtedly convey some information as to the character of the ton-mile unit during the different years and the nature of the changes in its quality which are in progress. This will be made more evident by the following table showing comparisons for the years 1899 and 1907: Class of commodity. Increase, 1899. 1907. Amount. Per cent. Products of agriculture 50,073,963 Products of animals 13,774,964 Products of mines 227,453,154 Products of forest 48,122,447 Manufactures 59,4 1 5,205 Merchandise 19,844,735 Miscellaneous 23, 197, 155 Total 441,881,623 893,184,972 451,303,349 Obviously the effect of the increases shown in the fore- going upon the quality of the average ton-mile must be in proportion as they have exceeded or fallen short of the average increase shown at the foot of the last column. There is no question that, in general, products of agri- culture, animals, forests and mines are low-grade com- modities, or that, on the other hand, the commodities 4C 77,030,071 26,956,108 53.83 20,473,486 6,693,522 48.63 476,899,638 249,446,484 109.67 101,617,724 53,495,277 111.16 137,621,443 78,206,238 131.63 34,718,487 14,873,752 74.95 44,824,123 21,626,968 93.23 classed as manufactures, merchandise and miscellaneous are high-grade articles. An increase in excess of the gen- eral average increase in the first four classes named would tend to lower the quality of the average ton-mile while the opposite effect, that is a raising of the quality, would result if the last three classes should increase more rap- idly than the increase in all tonnage. Adopting this clas- sification the following shows the respective increases in high-grade and low-grade tonnage : Class of commodity. 1899. Tons. 1907. Increase. Amount. Per cent. 102,457,095 217,164,053 676,020,919 114,706,958 111.96 339,424,528 336,596,391 99.17 Total 441,881,623 893,184,972 451,303,349 102.13 The considerably greater increase in the tonnage of high-grade articles indicated by the foregoing is scarcely within the possible margin of error in the classification but, in any event, what the figures certainly prove is the absence of any actually far-reaching change in the typical or average unit of traffic. That this conclusion extends to traffic movement is clearly probable. MOVEMENT OF LOADED CARS. Still another plain deduction from the official statistics supports the conclusion that the quality of the ton-mile average has not been lowered during recent years. Since the fiscal year 1901 the Interstate Commerce Commission has shown, annually, a classification of loaded freight cars accordingly as they have moved westward or southward, on the one hand, or eastward or northward, upon the other. It is a matter of common knowledge that, in gen- 41 eral, the coarser and cheaper articles of freight traffic move eastward and northward while the finer and more costly articles of traffic preponderate in the westward and southward movement. Therefore a relatively greater increase in the loaded freight car movement toward the West or South means a corresponding rise in the quality of the average ton-mile. Everyone knows that there was a relatively greater increase of this sort from 1897 to 1891, but unfortunately, the official statistics do not cover the years prior to 190 1. The data for the years 1901 and 1907 appear below : Percentage of Total number of loaded Number of loaded loaded freight freight caro classified by freight cars moving cars moving south- direction of movement. southward or westward. ward or wostward. Group 1901. 1907. 1901. 1907. 1901. 1907. L 147,277,249 266,167,549 59,344,040 115,280,667 40.29 43.31 II. 1, 426,635,988 2,192,215,262 494,495,960 883,609,250 34.66 40.3 1 in. 1,467,331,953 2,027,708,882 657,604,962 964,129,961 44.82 47.55 IV. 406,331,071 544,565,406 146,367,137 220,397,204 36.02 40.47 v. 733,576,352 1,035,144,669 393,793,919 526,505,742 53.68 50.86 VI. 1,482,189,103 2,135,957,477 714,144,699 1,031,493,373 48.18 43.29 VII. 233,103,859 402,981,635 105,948,378 194,964,629 45.45 48.38 vm. 775,407,114 1,061,946,655 378,453,439 547,886,036 48.81 51.59 IX. 344,590,530 456,997,306 201,837.924 270,209,838 58.57 59.13 X. 224,828,719 616,061,255 120,809,643 332,087,888 53.73 53.91 United States 7,241,271,038 10,739.746,096 3,272,799,201 5.086,564,588 45.20 47.36 The foregoing shows a slight increase in the westward and southward movement but is valuable chiefly as show- ing that there was, in this particular, no lowering in the quality of the ton-mile unit. It should be noted that the apparently slight increase of 2.16 per cent in westward and southward movement is equivalent to no less than 231,978,516 loaded cars. LOWER CLASSIFICATION OF FREIGHT. The evidence already marshalled, showing that the average rate per ton-mile has decreased and that the ton- 42 mile unit is, at least, of no lower quality than it was in 1897, is corroborated by a study of the successive classi- fications of freight in use in the region east of the Mis- sissippi river and north of the James, Potomac and Ohio rivers. A very careful and comprehensive study of these classifications has been made for the especial purpose of aiding in the present discussion. In this study the classi- fication in use in 1908 has been compared separately with those in use in 1898 and 1888 and the classification in use in 1898 with that used in 188S. Each comparison shows, as might have been expected, changes in both directions, but, in every case, the largely preponderating number of changes have been by the transfer of commodities from higher to lower classes, thus bringing about the applica- tion to them of lower rates of transportation. The two following tables show the rates which would have been applied per one hundred pounds upon shipments from New York to Chicago of the articles that have been advanced or reduced in classification. As the absence of statistics of volume of movement for different classified articles has made necessary the adoption of a method of tabulation which ignores such differences it should be un- derstood that, in fact, the preponderance of decreases is on articles which contribute most largely to the total tonnage while the reverse is true as to the greater number of in- creases in classification. The table first following compares the classifications and rates of 1898 and 1908 in regard to shipments in less than car load quantities. 43 Si (a a Q 5 nooonNMNnstDtoosoini CM lO CO* — CM CO* lO — CM CO* CM CO IflNONOI >— U> — * — — O CM CM CM CO cm o m o 10 o < OONOTTTTI * CO — CM * * CO — " oS CO CO oi © CO — — — CO CO — "•a ■5 » 2 » £5(3 loNOONoiooonnofflio' M(oiaocointsooNM>iacoi J 10 e! 6 »r>ii>»c0oooi *5 Is? 8 Si Is •a 0^ 1 sz ~s 1-1 £; a -8 00 Si £ 1H a* U 5h 00 IH |J £ a 3 'A ooocoooooecoooo — oomrs OOOCOOOOOCOOOOOI>>COCMCOCO 10 oomcoooomv>ooooi»CM*coto CMIOCMCOOOIOCM — OIOCO— CO* — CO — CM — CM * CM rxor«.cMoecMr-seeioinmeoee3in coiococomm — cotNOcMO*co«oioei>.t>.'Oom>nmeoeotn MinooioNomi»MONioc)0>oo*in g CM * — CM h>I — — tv — CP r4 CM CO CM CM * «» — CM CM CM — 0> CM — r>.oor>.u50»oomoooooocsoo cooioagNinMinoicnmio-^ons) — CO — tN CO* — * * CO * CM iri CO CO v* cm — co — e» 5 CM -eM-rs-coacMhj-agjgco^o-co CO CO CD CMCMcomcMio — S^«oi>.coiocom**co CMC--CM ■ - r^oocMiniominmoooommiooo coinio-NNNNUinnioinmrantcm "3 «» 44 The foregoing shows that, between 1898 and 1908 there were 638 advances and 296 reductions in the classification of articles carried in less than carload quantities, but the 296 reductions amounted, on the basis of shipment of one hundred pounds each of all of the articles reduced, to an aggregate of $71.35, while the 638 advances, on the same basis, amounted to $69.97 1 / 2 . Shipments in carload quan- tities are more economically handled in many respects and there has been a wisely directed effort to adjust rates so as to stimulate such movement in cases in which it is prac- ticable. The following table, similar to the preceding one in every other respect but relating wholly to the classifi- cation of articles when shipped in carload quantities, ac- cordingly shows a much greater proportion of reductions : 45 ONOisiDioneoiocoioniDMonoT-oinoooNinio "3 S 2'A © ° £ ,_ — C4 CO ^ C3 OJ ■ CO — CO CM ^ CM — CO — tO *t 00 — »" I*. — CM OS i e to & ©w©oe3©or>,«»©o©m©o©ir>m©w''50©©inino ■ONOinoo^aMiaioioNiooifliNisiscaatinotnttnN •* c4 t© * to to «* r4 ci «r — "i evi oo ci to en " — oo — — oo * ^ " K W- CO CM CN — * — tO CM CO cm — *j-«'»eM*iN.e>i*teM 5fcS M cS222-SS CO CO tO OS O »-* Tj* h»mr>.«oiocoi>.toinco«o«»cocoe>i«ircococoeMCM MNU1IOII3IO-' 8 6 1 11 Z|0 "3 2 11 a S 3* s <» £ <} SB = s o o OOONOl-^OOlOMOMOSOO OOOinNN-OMO!DMUm«300 N-BIO'T-IO-CO ©ooooooinoamot > ««> tj- cm to co io to cm i©«©oinmoo©ooo©oo©o© • nngionnoNNMiotONmaeiioioo ■ -«:£» "— 'i>;«*to ■— * " "« — -j '. '. '. '. '. '. NNmMIS oo miooooinininminioooooootnio C> tOtDIOWWcOCOCOCOCOCOCOCOCOCOCOCOCMCM Thus, in respect to the more numerous and, therefore, more important shipments in carload quantities it appears that there were 580 reductions as against 259 advances and that the aggregate of the reductions was $129.72^ while that of the advances was, only $27.05. The follow- ing summary of the two preceding tables is highly sug- gestive : Less than car- Carload All load shipments. shipments. shipments. Reclassifications : Number 934 839 1773 Reductions — Number 296 580 876 Per cent 31.69 69.13 49.41 Cost of shipment of 100 lbs. each of all articles: In 1898 $536.30 $436.72'/ 2 $973.02'/ 2 In 1908 534.92 "' TMC> ~"~ ' ^>f,,,:v, ^ g ! ■ ! nninn "? to to co cr> •J?PS2!'>!i>''» l o;'>irtinu»ioir>ir>inioin«oioiou l >ioi*sioin«nio'o»o • • • • •^;^^f»^r^i>jl^^ioi>;rsr^injinioioiou5rsiou)t>,»>.i^t>,t>. • . . . •£Sn»?!«J<>!'>'n«?*>o«»»'>i«ooiooe>©o©irje©ioin»«5u5 o c 6 ^l|l|SS|||||||Sg||g|gggggggg BigB o«s o o o o o c c Eg8llggg8l^|ll8llSS| 1 11.1161 II ■ C5l»OCO--000[l)OOL5NCBNMNi «»"'""citoe<'— '■■— — . . . £f!SESS , !' c, 3''3'0' c £ ' a ' 2 '3'3'0' ' a 5 fl E2Ei!' ' fl£ •c^*S§~ e fa s a fe 513 j^S 8*5s~ ! k«HC« £ *3 :|gll*l|fllj || B — • «e,«« o : If ills? _ II ;l§pi||= -«_ f J £3: g-g- sa ~ £*' S-s 55* S8 g QQ feO WW ^ 50 jji 8 n p oo • to o— o m 10 "5 ■«• r> o to n* ioinin>fleininio ■ominmmininotninoooooootnininmmoininioinino Nl>iM\NNiMnlsNinv)inini()ininNNrsN|<.t>NNNNl>iio ■2 4 o o CM CM CO O ' o cm — cr> r> o — cm ---O-tN* " id — -1 — tsl I o ct sga: C G o- O <0 h _c a « 225 14* ~ 3 e 6 II if si tarn s5 23s 53 oq L 1 v to 81? feft« 51 3 is OOOOOOOOOl 00*0500000 NOON O ON OTCiCOOOOOO CO O O CO O ON CM — CM — CM • -NONMON — IO O O O O — — n o n eo o cm o o — m cm cm — to — - 1 O *NW- N MO niflinionwinnionin cb in m co m o o o o NeaeBN^Smi CO co cm — co co in 10 co cm cm cm cm m . ~ CM l ggggggggggg .000600060 r-i tocooccccciceexcfl >gggggggg ^s « ,* ^ « & £ £ & C o O V o a> o o o o .© o o p p O o O O o o o o o O o o 6 o h ** H {H »* h >H K* »* t* rH ci r-l ^ |H fH >H h ^ fH tt M | M . Um o en cm o in o e» cm o cm o ■ CO — CM CM <0 CO CM 10*010' gg q ^3 «r> t>. o cm o o> O o o o» <* O Ol w W W — "CO W' Sci*>K e »n «o — <»epo»«o — mho °NNNN»n r^ r>. us •* oo c» r^ — cm ^!^! :S :S OaONNOOM CO^jCOCMCMCOCOCM m cm co CM eo co in cm _I cm ++++ & CM ten * ; :8£ fl'Bfi'BC'ti'Bil oooooooo fc £ £ fc £ £ £ S 60600666 MMutttlUlUcJ 1 1 g| 8 g| 3 : : : :S : 44 # •£ mM "1 "WN 2NOO- KNONNtt CO -ONtNOCOO) O CO CM CO 00 ITS CM 00 "coco ' "■*■* ' " W ** - 0> CO "" ' fn CO — o o r% •> ■CflONtN "coco a a c a a a a a £000000 o "£BS, Saw p i56a S •3 .-S »S a c3 cS O to n o il 3 3 S3 - --a a xj !i • b § A « 2 • ° « fe a 5 si1 "S eo J; 2 © - iiiIb 6* 3 ■* 1 53 5 *r ? &» 8£ t- °° => •■' C5 r>r^r»rN.ooooo — qm acocoooooooo-ooi 1000000000 <«• ■ OOOOOOOOO S o CM O CO O 00 ^ :S "WMWoNNcO' "mTS "E .a iS it X X .g • O ©6d,?,?°©ooo© l 5lS5||ll5ISIIIl5^5SSli| ij astS ifflOOOi nnoiN-B e» 1 10 eo m v M ££&& o 53 a RAA^li^^^'Sd id & 2 £ I ^ s s £ £ .3,-.. "C e _ \& ;s -3 .o e* a x> ,a .a . . ~ u . ,a .§8 » J3 .S . ■s o ftU J ej «° > • ■» . 2 re I J3 J= S6 I s £s 3 ££££££ 5 5 ■5 c' " » 1 ! iW "" in Cd 8 a £ s ~5 £« * c a -2 PS ta mm 02 54 UNIVERSITY OF S33§§ gggfcS3£S°ggg22 gssggg: 00.00— com 0>•* 9 a 9 fc & i3 2 3 cd o co to — CO CI 03 CM TT CM 1 *» co CO ioomooooor>oo«*io l 1 *— NOlOCO — O— IsOWN ' w co ir> co co " i-J ' 'in — — 55 •a g 2 ° I! t- 00 j OOfOOOOOJOJOOOOCMOOr^l OOCOOOOCCCOOOOOCMOCMO. MOIUXOOOOOONOONNNO' CM CM CM — CM CM CM — ■ r^ococoor^otooooo CM - CM CM — — — ' 6 ioo»S • • • • ••■ ' • • -r^* w«oiinO)oino)oio5oK5(ooD oooppppPppppp ^ o P it & .x & & 6.2 6 .2 is & 6.2 S && 5a*SS?' a £*J«J 1 >S- | 3 2 .«? £ |zi?;ugg|z;ol?oo^^o g 55& c 5>. S .9 5> 3 3 o 3 E?& 226tete26"6 6 2 2 ssssss g sags gclr*cSc3cS a* acrid .2.2.2 .2.2 « §5 S 3 2 2 2 3 3 3 3 2223 o o J; S o o o P P P P I- 3 «* = i fcS«SS& 6 | 6 6 6 6 cc °33£«'Se« cc 5 5 J5i5 5 «j co e» E E E ft fi SS5 5 io oo eo e» co inco**coeoTf©«M — — w 1 10 en ois cm co o co m ^ cm co o M O * I NN|n|n'ni rs is, . • • co — i ri ««i e>i ' 'fiw * » * » * i 10 *»• . • m CM CM • • • • o eo co • • • - tn T*T CM CM CM CM g : : : : : : ^ ,g iA is M 4j ^2 .0 d p e d d d d e d d d d 0.0.00 o 5 o c 6 d d SlSSSOeaSBeSeSS rrr r ^^.^^^ SiJiJiJiJ.ai!iiii^iJ^i; fe & is & & & « « ^ « « »2^3^:^3j3^:^:^:^:j3j3^: Z *£ ±£ 14 & S ^o1&»&&»»1.i.i , | d »ifi?»S , gflil I .3.3 s M § q J £ ^ONononfianomoioi COOlCOOIlOOClMONOOtOO cSK! Tf ■* «* *f Ol O w 0h S **» h c 5 a. § «» II^I^ *e oCC33S w «S 3 ,2 ^ I Ills e 1 1 !?!!! S o _ o £3 J. TS "3 2 ^ 9 I 1 O C 3 J ££ 57 S* £2 f£ 8 S£ £ s ' d o — W CO CM OJ < w jo co in — m M C<4 (ONNN EeJ.2 & J & J & s *J ** ** .2 ►* e ** S a IOOO— OOOC0"> 2?_«a^^S fi2^ ^5S s 3 Spm Is "III tOKH 53 Examination of the foregoing table shows that it con- tains the prices in 1897 and 1907 of 229 articles and that among these 204 prices or 89.08 per cent of the total were increased. The rates on forty-nine of these articles were advanced an average of 13.14 per cent and the rates on forty-eight of them were reduced an average of 16.44 F^ 1 " cent. Other conclusions are shown in the following summary table : Aggregate Average Item. Number. Percent. percentage changes. of total. of changes. per cent. Prices — Advanced 204 Reduced 13 Unchanged 12 Total 229 Rates advanced — Prices advanced 44 Prices reduced 3 Prices unchanged 2 Total 49 Rates reduced — Prices advanced 42 Prices reduced 3 Prices unchanged 3 Total 48 Rates unchanged — Prices advanced 118 Prices reduced 7 Prices unchanged 7 Total 132 The foregoing shows that while prices were advanced for 204 of the 229 articles, or 89.08 per cent of the entire number included in the table, the freight rates on the same articles, as expressed in money, were advanced in but forty-nine instances, or 21.40 per cent of the total, money rates were reduced in forty-eight instances, or 20.96 per cent of the total, and remained stationary in 118 instances, or 57.64 per cent of the total. Of the rates ad- vanced forty-four were in cases in which the prices had also advanced and of the rates reduced, forty-two applied to articles which had advanced in price. Even as to the 59 89.08 5.68 5.24 100.00 11,340 330 55.59 25.38 19.22 1.31 .87 21.40 606 30 8 644 13.77 10.00 4.00 13.14 18.34 1.31 1.31 20.9G 708 33 48 789 16.86 11.00 16.00 16.44 51.52 3.06 3.06 57.64 commodities which had advanced in price, the average advance being over fifty-five per cent, money rates were advanced in but forty-four instances out of 204 and the average advance was but 13.77 per cent and there were forty-two reductions in money rates, s\ich reductions av- eraging 16.86 per cent. SIGNIFICANCE OF THE DEPRECIATION OF MONEY. It has now been fully demonstrated (first) that the railways have to pay much more, probably not less on the average than twenty-five per cent more, for everything they require in the conduct of their business, including labor, than they did ten years ago, (second) that those who make use of railway services receive much more, probably not less on the average than twenty-five per cent more, for their labor or for the commodities which they produce than they did ten years ago, (third) that av- erage rates per ton per mile for railway freight transpor- tation, expressed in money, that is to say in dollars and decimal fractions of dollars, are now somewhat lower than they were in 1897 or formerly, and (fourth) that the ton mile unit is an highly stable one as to quality and that in consequence of this stability the ton mile rates accur- ately answer the question whether rates, expressed in money, have remained stationary, have advanced or have declined. The latter conclusion has been supplemented and re-enforced by data from the classifications and rate schedules which tend strongly to prove the same fact. Therefore, it has been made plainly ap- parent that there has been a decline in money rates since 1897. But railways require money only to remunerate the 60 highly skilled labor they employ, to purchase necessary materials and supplies, to pay taxes and to compensate the capital they use. Consequently money is worth to the rail- way corporation, as to the wage-earner, only what it will buy for the satisfaction of wants. A dollar which will pay for less labor or buy less fuel for locomotives is worth less to the railway just as a dollar that will buy less bread or clothing is worth less to the man who works for wages or receives it as interest on his savings. It has long been realized that any effort to study the question of wages, throughout an extended period, which fails to take into consideration the pur- chasing power of the money received is worse than value- less, because it is deceptive and misleading. It has been generally recognized also that any effort to consider the condition of particular classes of producers by compari- sons of the prices obtained for their products at different periods, as that of farmers by the prices of corn and wheat, is similarly dangerous unless these prices are turned into quantities of the commodities which such pro- ducers must purchase. Brief quotations from economists of the highest authority will serve to make this point clearer. In "The Wealth of Nations" Adam Smith said : "Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life. . . . The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who has acquired it and who wants to dispose of it or exchange it for some- thing else is the toil and trouble which it can save to him- self and which it can impose upon other people. . . . The exchangeable value of everything must be equal to the extent of this power which it will convey to its owner. . . . 'Every particular commodity is more frequently exchanged for money than for any other commodity. The butcher sel- dom carries his beef or his mutton to the baker or the 61 brewer in order to exchange them for bread or for beer, but he carries them to the market, where he exchanges them for money. . . . The quantity of money which he gets for them regulates, too, the quantity of bread and beer which he can afterwards purchase. . . . Gold and silver, however, like every other commodity, vary in their value, are some- times cheaper and sometimes dearer, sometimes of easier and sometimes of more difficult purchase. . . . The dis- covery of the abundant mines of America reduced in the six- teenth century the value of gold and silver in Europe to about a third of what it had been before. . . . But as a measure of quantity, such as the natural foot, fathom, or handful, which is continually varying in its own quantity, can never be an accurate measure of the quantity of other things, so a commodity which is itself continually varying in its own value can never be an accurate measure of the value of other commodities. ... At all times and places that is dear which it is difficult to come at or which it costs much labor to acquire and that cheap which is to be had easily or with very little labor. . . . Commodities may be said to have a real and nominal price. . . . Real price may be said to consist in the quantity of the necessaries and conveniences of life. . . . Nominal price is the quantity of money. . . . The distinction between the real and the nominal price of commodities and labor is not a matter of mere speculation, but may sometimes be of considerable use in practice. The same real price is always at the same value, but on account of the variations in the value of gold and silver the same nominal price is sometimes of very different values." The following is from John Stuart Mill, in his "Prin- ciples of Political Economy": "Money is a commodity and its value is determined like that of other commodities, temporarily by demand and supply, permanently and in the average by cost of production. . . . The relations of commodities to one another remain unaltered by money; the only new relation introduced is their rela- tion to money itself, how much or how little money they will exchange for. . . . The value of a thing is what it will exchange for : the purchasing power of money. If prices are low, money will buy much of other things, and is of high value. If prices are high, it will buy little of other things, and is of low value. The value of money is inversely as general prices — falling as they rise, and rising as they fall." And President Hadley, of Yale, in his "Economics," said: "The value of money is measured by the quantity of other things which a unit of money will purchase. It varies in- versely as the general level of prices. If general prices are 62 high, a given amount of products or services will cost a great many dollars. "If the price of different commodities rose or fell simul- taneously it would be easy to ascertain the amount of change in the general price level and in the value of money. But the price of each article is subject to independent variations of its own. . . . There is always considerable fluctuation in the purchasing power of coin. . . The goods which he makes are valued, not as a source of enjoyment to the pro- ducer himself, but as a means of commanding the goods and services of others in the open market. . . . The piece wage received by any workman multiplied by the number of pieces which he makes in a day constitutes his day's < earn- ings or nominal wage. The amount of comforts which he can buy with the money received as nominal wages represents his real wage." It is because the study of comparative railway rates has been more lately undertaken that the same necessity has not yet received general recognition in this field of inves- tigation. There can be no doubt that it exists. The application of the principles set forth in the fore- going extracts to the discussion of the supply of standard money was stated, with admirable clearness and in terms that will serve to illuminate the present inquiry, by Pro- fessor Frank W. Taussig, of Harvard University, in a work published prior to the silver campaign of 1896. This work was written when the view that a continuance of the decline in prices then in progress was inevitable unless the gold standard was abandoned was almost uinversal, This view took no account of the possibility of an almost three-fold augmentation of gold production such as that which has since taken place. Professor Taussig said, in part: "So far as this train of reasoning undertakes to explain the mode in which the fall* in prices has been brought about, it seems to me impregnable. But in so far as it endeavors to disprove the appreciation* of gold, or to show that the general ♦The reader will note that the words "rise" and "deprecia- tion" might be substituted for "fall" and "appreciation" here and elsewhere in this extract without altering its logic . 63 fall is not due to this appreciation, I have never been able to see its force. In truth, both the bimetallists and their op- ponents seem to confuse the question when they speak of the appreciation of gold as causing lower prices. The ap- preciation of gold is the general fall in prices. The two are not related as cause and effect; they are simply two names for one and the same thing, namely, a different rate of ex- change between gold on the one hand and commodities in general on the other, by which the same amount of gold buys more commodities than before. . . . "The only concrete way in which civilized people can be- come better off, is by being able to buy more, — by their money incomes going further in the purchase of commodities. The improvement may take the form either of higher money in- comes, with stationary prices ; or that of stationary incomes with lower prices; or the intermediate form, which in fact seems to have occurred, of money incomes rising some- what and prices at the same time falling somewhat. . . "The eventual effect of a silver standard, as we have seen, must be to cause a general rise in prices. The rise, no doubt, would not be immediate, and the change not so prompt or its effects so directly felt as is generally predicted. But come it would; and the phenomena of rising prices and incomes would in due time appear. "All the indications, so far as we can see, are that the advance in the arts will not relax, that commodities will be produced more and more cheaply and abundantly, that the general trend of prices in civilized countries will be down- wards while money incomes will continue to be stationary or rising. The present monetary situation, and that for the visible future, seem to be on the whole satisfactory."! The unforeseen circumstances which have prevented the realization of Professor Taussig's predictions have not weakened the logic of his argument. The elements which did not enter into his calculation, the enormous in- crease in the World's gold supply and the somewhat re- lated, to say the least, extensive expansion of credits, have accomplished about what he anticipated would result from the free coinage of silver at the ratio of sixteen fine ounces of silver to one of gold. The annual report of the Bureau of the Mint for the year 1906 gives estimates of m f"The Silver Situation in the United States," by F. W. Taus- sig, LL. B., Ph. D., Professor of Political Economy in Harvard University, 3d Edition, G. P. Putnam's Sons, New York and London, 1896. 64 the World's yearly production of gold from which the following figures for each quinquennial period from 1862-66 to 1902-06 have been obtained : Years. Fine ounces. Value. 1862-1866 38,068,4 14 $621,570,000 1867-1871 30.67 1 ,358 634,033,000 1872-1876 24,367,771 503,727,000 1877-1881 26,668, 106 551,278,700 1882-1886 24,85 1 ,094 5 1 3,7 17,700 1887-1891 28,490,926 588,959,700 1892-1896 42,876,543 886,337, 1 00 1897-1901 65,076,31 1 1,345,246,700 1902-1906 84,646,918 1,749,807,309 DIRECT APPLICATION TO RAILWAY RATES. Economists of distinction have applied this line of reasoning to the present problem of the readjustment of railway rates. The following concise statement has been made by President A. T. Hadley, of Yale University : "It seems also clear that the average increase in rates is apparent only and not real. If the price of goods carried and wages of railroad laborers and the cost of materials of railroad construction and operation have increased from ten to forty per cent, an increase of apparent charge of five per cent on the part of the railroads is virtually a tremendous and gratifying decrease."* In the admirable essay, which received the first prize in the Hart, SchafTner and Marx contest in the year 1906, Dr. Albert N. Merritt expressed the same view in greater detail, saying, in part : "At the same time, coupled with the general prosperity which has attended the increased amount of business done has come a considerable rise in the prices of nearly all com- modities, while there has occurred also a considerable ad- vance in the rate of wages. For these reasons the cost of operation upon our railroads has been greatly increased. "Whatever the cause, the fact of this rise in the price of services and commodities is incontestable. In other words, a smaller quantity of labor and materials can be purchased with a given amount of gold coin to-day than could be pur- chased six years ago. "But a general advance in the prices of commodities, ac- *President Hadley in Boston Transcript of April i, 1905. ft cording to another way of stating the same fact, is only a relative decline in the value of that standard in which prices are measured. When measured in the amount of commodi- ties and services which it will buy, gold has therefore declined about 25 per cent in value since the period of 1895-1899. Would it then be unreasonable to expect that gold, being less valuable for the purchase of commodities and labor, should also be less valuable in the purchase of transportation? What are the facts? If we take similar periods for the computation of average railway rates, we find that there has been no advance whatever, the average rate for the first period, 1895-1899, being 7.84 mills per ton-mile, while that of 1904 was only 7.80 mills per ton-mile. Thus while aver- age prices have advanced 25 per cent there has actually been a slight decline in average railway rates. "An important distinction is here to be indicated which is not often recognized. There are two sorts of rates, which may be designated respectively as nominal and real. Nomi- nal rates are measured in money, while real rates consist of a percentage of the value of the commodities transported. To determine the real rate, that proportion of the value of the goods transported, which must be given for the service of transportation, must be ascertained. "This distinction may at first seem useless, and the method of computing real rates certainly refuses to lend it- self to exact statistical analysis. Nevertheless, real rates, such as described are the only proper measure of the rela- tive burden of the transportation charges upon the industries of our country. Obviously it is of little concern to the pro- ducer just what may be his absolute money income and ex- penditure. That which is of especial interest to him is his relative income and his outlay. It is, therefore, the propor- tion of the value of his wheat which must be paid for its transportation that determines the real burden of the trans- portation charge upon him. On the other hand it is the amount of labor and materials [which the money received for trans- portation will buy] which is of interest to the railroad i determining whether or not it can derive a profit from the rates charged. If now real rates are accepted as the proper basis for determining the course of rates in this country the whole situation assumes an entirely different aspect. ... In other words real rates have declined 25 per cent in less than ten years."* CONSEQUENCES OF LOSS IN PURCHASING POWER. The conclusions from the foregoing are already ap- parent. A rapid decrease in the purchasing power of the ♦Albert N. Merritt, Federal Regulation of Railway Rates, Houghton, Mifflin and Company, Boston and New York, 1907, pp. 7-10. 66 money they receive has brought about, within a single de- cade, a reduction in railway freight rates that cannot be less than twenty-five per cent. This reduction began almost imperceptibly at a time when American railway rates were already lower than ever before in the history of railways and lower than anywhere else in the World. It has proceeded, concurrently with the fall in the real value (that is in the purchasing power) of the American dollar but in such subtle form that only when its conse- quences threaten the stability of the American railway system, the wages of railway employees and the prosperity of the great rail-manufacturing, car-building and other allied industries is its real significance and extent per- ceived even by those most immediately interested. That such a threat now hangs over the railway industry of America and every employee and industry dependent upon it is too plain for argument. The situation is acute and nothing but a prompt adjustment of the rates obtained for the services rendered to offset, partially, at least, the loss in the value of the money received will prevent disaster. That such an adjustment, if effected now, will, at best, be tardy and belated is evident from the facts herein pre- sented, which show that prices in every other industry and the wages of all artisans were long ago adjusted to this fundamental condition. RAILWAY CAPITALIZATION AND EARNINGS. The truth is that railway corporations and railway own- ers, although they bore some of the severest losses of the period of financial depression that began in 1893, were able to obtain but a relatively small share in the benefits of the ensuing period of prosperity. This is indicated by 67 the following table which shows the aggregate par value of shares and bonds receiving no return in each of the years named, as reported by the Interstate Commerce Commission, and the percentage relations of these aggre- gates to the total issues. Stock on which no were paid dividends Bonds on which no interest was paid. Year. Par value. Per centof total issue. Par value. Per cent of total issue- 1890 $2,811,526,552 63.76 70.06 54.34 37.16 33.46 Unknown. $890,561,460 378,937,806 449.100,396 287,954,851 Unknown. 1895 , 1900 1905 , 1906 , 3.475,640,203 3,176,609,698 2,435,470,337 , 2,276,801,333 16.71 6.78 6.36 3.82 The capital issues thus left portionless do not represent an excess of capitalization over real value for there is no such excess. There is no "water" in American railway capitalization as it exists to-day. The methods of financ- ing railway enterprises which were necessary prior to 1880 have passed away, railway paper is no longer heavily discounted and for two decades rail- way corporations have been busily engaged in recreating their properties. The latter process has now gone so far that there is no longer a dollar of water in the aggregate railway capitalization, and the American railway system could not now be reproduced even for a sum much greater than the total par value of all the bonds and stock by which it is represented.* Since 1880 there has been no in- crease in the average capitalization per mile of American railways, as is shown by the following table: *The reader who wishes a more complete discussion of this subject is referred to the article entitled "Railway Capitaliza- tion," by Mr. H. T. Newcomb, which appeared in the Railway World of June 7, 1907. Capitalization per mile of line. Year. Funded debt. Stock. Total. 1880 $25,400 $27,700 22,498 22,539 23,413 20,664 20,427 $53,100 26,975 49,473 28,767 51.306 1900 27,680 51,093 1905 30,793 51,457 1906 . 32,014 52,441 This is a lower average capitalization per mile than that in any country having railway facilities which even ap- proximate the high quality of those traversing the United States. The "Archiv fur Eisenbahnwesen" for May and June, 1906, gives the following data concerning the Eu- ropean countries whose railways are comparable with those of the United States : Average Length capitalization Country. of line Total per mile in miles. capitalization. of line. Great Britain and Ireland 22,147 German Empire 33,594 France 27,739 Austria 12,813 Belgium 2,520 Switzerland 2,536 Italy 9,962 Spain 2,272 The Netherlands 1,653 Russia (not including Finland) 36,683 Total 151,918 $5,792,206,000 $261,535 3,334,618.000 99,262 3,370.556,000 121,510 1,373,498,000 107,196 399,602,000 158,572 257,516,000 101,544 1,077,902,000 108,201 214,200,000 94,278 136,612,000 82,645 2,769,844,000 75,508 J 18,726,554,000 $123,268 The aggregate railway mileage of all the countries of Europe, at the dates represented in the publication from which the foregoing table was prepared, was 1 77,49 x miles with a total capitalization of $20,018,418,000, an average of $112,786 per mile, or more than twice the av- erage in this country. Thus the European railway sys- tem, which has less than eighty miles for each one hundred miles in the United States, sustains $171.51 of capitalization for every one hundred dollars sustained by the railways of this country. Even Canada, with its sys- 69 tern of approximately 20,000 miles of railway, largely built with the aid of credit loaned by the Government, shows an average capitalization of over $60,000 per mile, or nearly twenty per cent higher than the United States. LOW RETURN IN RAILWAY INDUSTRY. Not only is the capitalization of the American railway system moderate but the return upon investments in this industry are generally lower than in any other great American industry. The large aggregates of railway bonds and shares which receive no interest or dividends have already been shown. A careful investigation by Mr. Logan G. McPherson, lecturer on Railway Transporta- tion at Johns Hopkins University, based upon official sta- tistics collected by the United States Census Bureau and Department of Agriculture, has revealed the important fact that both the farming and manufacturing industries bring in much more, per unit of capital employed, to those engaged in them, than does the railway industry. The following data showing the average gross and net returns in the year 1905 upon each investment of $1,000.00 in each of the industries named are from Mr. McPherson's report of the results of his inquiries.* Industry. Gross. Net. Manufactures $1,216.00 $151.00 Agriculture 191.00 98.00 Railway 150.00 44.00 The most extreme modification of the tables possibly consequent upon the completest information could not, in all probability, alter the conspicuous deduction from *The full report is to be found in The Railway World of No- vember 29, 1907. 70 this comparison. That is, the investor looking for the greatest profit would turn to manufactures, then to ag- riculture and lastly to the railroad. The tremendous de- velopment of manufactures and the enormous and grati- fying prosperity of the farming regions of the West con- firm this deduction. SLIGHT EFFECT OF A READJUSTMENT UPON CONSUMERS. If where there has been an unplanned, unasked and in- voluntary reduction to the point, or beyond the point, of unprofitableness there must be a wisely directed, system- atic and considerate effort at readjustment, the railways should be able to rely upon the cordial acquiescence of an intelligent public sentiment. There can be no real advance in rates because only a small fraction of the loss through the depreciation of the dollar can possibly be regained by the railways but some readjustment and dis- tribution of this loss is inevitable, as has already abun- dantly been shown, if wages and stable conditions in this great, prosperity-making industry are to be maintained. How slight the effect, upon the consumers of the commod- ities affected by such readjustment, would be may be indi- cated by considering the following suggested changes on traffic between Chicago and New York. Class 1 75 ies and rates in cent 2 3 4 65 50 35 9 7 5 s per 100 lbs. 5 6 30 25 Suggested additions 10 3 2 85 74 57 40 33 27 Should the foregoing be adopted the effect upon the commodities named in the following table, per unit of 7i consumption, even when shipped in less than carload quantities, would be as indicated in the last column below. i O O O O O O =3 o o _ dooooooSod "? « *? »"T T T TT T *7T *? o o o o S . — in iA is * — «S-»J*ei co ■3 i moo go » « » « c c ■ 5 rt « « -* = o = = . . . • "a » -o 8 ® ® a n n £ a S a o e o "7 ■ 5 5 ■o -o T3 — >-Q > o Q ONN _ o o Q QQ cm cn *s- o © o o ■ mrao " cm ^ rf ce to ■*■*■» to i>. o o S to us to en m own coir « 5 w co III I : x x x _; o _: ■O 0O3O00recSR«00« « « C5 « C3 im co ca h ca ca ca o o oo es C3 o ooo^oca m ca ca ocao oq o m m c oo o in m lominoooooinioaoin inwominmoooi 12 §, a • 4»4 72 The foregoing shows that an increase of seven cents per hundred pounds, for example, on baking powder shipped in less than carload quantities from New York to Chicago, would only amount to seven-tenths of one mill per can. On most goods shipped in carload quantities the effect of the changes would be still less considerable. VIEWS OF AN AUTHORITY. That those who, outside of railway offices, have given most consideration to the subject, realize the necessity of at least such a moderate readjustment as herein suggested is made evident by the following wise and patriotic con- clusions expressed by Hon. Martin A. Knapp, the ex- perienced and able chairman of the Interstate Commerce Commission, in a recent address : "Without regard to the personnel of railroad officials, with- out regard primarily to the interest of stockholders, but in the interest of public welfare and national prosperity we must permit railway earnings to be adequate for railway improve- ment at advantage and profit. "The prosperity of the country is measured and will be measured by the ability of its railroads and waterways to transport its increasing commerce. With a country of such vast extent and limitless resources with all the means of production developed to a wonderful state of efficiency, the continued advancement of this great people depends pri- marily upon such an increase of transportation facilities as will provide prompt and safe movement everywhere from producer to consumer; and that we shall not secure unless the men who are relied upon to manage these great high- ways of commerce have fitting opportunity, and the capital which is required for their needful expansion is permitted to realize fairly liberal returns. "Now it happens, as you all know, partly from the nature of the calling, which appeals to the imagination of young men for its novelty and its opportunity, and partly because of the strength of railway labor organizations, which for the most part have been prudently managed by astute and able leaders, that the general scale of wages in railway service 73 has been materially higher than in corresponding private pur- suits, .... "Therefore it is a great satisfaction to me that at this critical juncture, under the abnormal and distressing condi- tions which have lately prevailed, arrangements have been made by which the wage scale in railway service is not to be invaded, at least until the lapse of time shows the neces- sity for resort to that method of reducing expenses ; and I congratulate our railway friends and the country at large that means have been devised for carrying this great indus- try over this critical period without attempting a reduction in the wages of railway employees."* On a later occasion, addressing the National Associa- tion of Railway Commissioners, an organization com- posed of National and State officers empowered by law to deal with problems of railway rates, Mr. Knapp plainly indicated his conviction that such a readjustment of rates is the sole possible alternative to a general reduction in the earnings of railway employees. In the course of this address, delivered on October 7, 1908, Mr. Knapp said: "If I might venture another word merely to give expres- sion to my personal convictions. As I said at the outset, this contact with certain phases of the labor questions has not only impressed me with its fundamental character, but has, I believe, led me to a better appreciation of the point of view of the man who works for his daily living, and has led me further to believe in the economic usefulness, the pub- lic benefit, of a high and advancing standard of compensation to railway employees. If I might enlarge just for one moment upon that phase of the subject it would be to say something of this sort: Every thoughtful man must be im- pressed with the inequalities of human condition. Equal honesty, equal intelligence, equal energy, and equal effort pro- duce very unequal results. I sometimes allow myself to read Mr. Carnegie's speeches, and they seem to imply that if everybody had done just as he had done, everybody would be just as rich as he is. The non sequitur is so obvious as to require no comment. It is not possible for all to succeed, and, therefore, the thoughtful man, the man who really desires to see the better thing come to pass, to feel that his country is growing and developing in the_ right direction, and that institutions, laws, and administrations are tending to a higher national life, is the man who wants to bring about a more equable distribution of the bountiful wealth *Annals of the American Academy of Political and Social Science, July, 1908. which the earth produces. How can we accomplish that result by any practical means more efficient or just than by maintaining a progressive increase in the wages paid to men who work, because they are the vast majority, and the better they are paid the more widely and equably the wealth of the nation will be diffused. Therefore, I, for one, do not hesi- tate to voice my desire to see our railroads make earnings which will permit them, plainly permit them, to pay liberal wages to an adequate number of competent men, not only because I believe they deserve it, but because of the in- fluence, the very great influence, of the scale of wages in public service upon the wages paid in every grade of private employment, and because that policy, I firmly believe, will promote the prosperity and happiness of all the people of our country." CONCLUSION. The following facts have been disclosed by this inquiry : First, there has been, since 1897, a great reduction in railway freight rates which has gone so far as to endan- ger the maintenance of the present level of railway wages and to threaten the stability of the whole railway industry and all allied industries. Second, this decline has not been effected to meet the necessities or at the request of shippers, but has been accomplished, without the efforts of shippers or the con- sent of the carriers, through the gradual depreciation of the money in which rates are paid. Third, a readjustment of charges which will offset a part of this loss can be made without serious inconveni- ence to any shipper and without materially augmenting the price of any article to any consumer. Fourth, the urgent need of a prompt readjust- ment of sufficient extent to remove the necessity for a lowering of wages is fully realized by the public authori- ties charged with the duty of investigating such matters. On this statement of facts the question is presented to the fair-minded American public with the confident belief that the action which has become so plainly necessary will receive their full and ungrudging support. 75 APPENDIX A. A comparison of the Official Classification of 1908 with that of 1898 shows that there are approximately 3,000 descriptions of various articles on which the classification or rating for 1908 was the same as for 1898. The follow- ing list contains the more important of these articles. Many are assigned less than carload ratings with a lower rating for carload shipments. Such articles are listed below either as carload or less than carload, dependent upon the prevailing quantity in which such shipments are tendered for transportation. Note. — Items marked with an asterisk have both less than carload and carload ratings. LESS THAN CARLOAD. FIRST CLASS AND HIGHER. ♦Almanacs. ♦Aluminum, Pigs, Slabs, Bars, Sheets, Plates or Ingots. Aluminum Bronze. Albums, Photograph. Andirons. Appliances, Magnetic. Awnings. ♦Bamboo, Split. Beans, Tonka. Beans, Vanilla. Beds, Feather. Belts, N. O. S. (Wearing Ap- parel). Binding, Cotton, N. O. S. Bismuth. Blinds, Porch or Shade, Bam- boo. Boots and Shoes, rubber or felt, wool or canvas. Boots and Shoes, other than above. Boxes, Cigar, Wood. Boxes, Druggist, pill or pow- der not nested. Boxes, Jewellers, Paper, not nested. ♦Boxes, Telephone, wood. ♦Boxes, Tin Plate. Bric-a-brac. Britannia Ware. Bronze Ware. Brooms, in bundles. ♦Butter, Fruit, in glass or earthenware. Buttons. Caps, Percussion, High Ex- plosive. Caps (Wearing Apparel) Fur. Capsules, Gelatine. ♦Carbureters. Cards, Photographic. ♦Cards, Playing. ♦Cards, Show, Chromo, Adver- tising. Carpeting, N. O. S. Cartridges^ Stove or Fuel. ♦Cases, Burial. 76 Cases, Egg, Wood, new or old, S. U. ♦Cases, Filing. Casings, Sausage, dry. Chips, Potato. ♦Chowder, Clam, in glass. Cameras. Cigars, Boxed, Corded or Sealed. Cloth, Wire. Clothing. ♦Coffee, Condensed, in glass. ♦Coffins. Collars, Horse. Corks. Corsets. Cotton, Spool. Dolls. Dusters, Feather. ♦Dyes, Aniline. *Essence, Coffee, in glass. ♦Extracts, coffee, in glass. ♦Extracts, Malt, in glass. Fans, Palm Leaf or Japanese. ♦Files, Letter, N. O. S. Flowers, Artificial. Furniture (New). ♦Bedsteads, Brass, K. D. ♦Chairs, Barber and Dental, S. U. Fuse. Fusees, Railroad. Gauges, Steam. Glass, Decorated. ♦Glasses, Looking. ♦Glass, Plate, (Not over 7V2 in width). Glass, Looking. Gloves. Goods, Brass. Goods, Celluloid. Goods, Copper. Goods, Dental. Goods, Dry, Blankets. Goods, Dry, N. O. S. Goods, Gutta-percha. Goods, Knit. Goods, Leather. Goods, Millinery. Goods, Optical. Goods, Rubber. ♦Hammocks. Hampers, Nested. Handles, Umbrella. Harness. Hats. Hides, etc., (Furs, peltries or Skins) Hosiery. Implements, Fire Arms. Instruments, Surgical. Music, Sheet. Notions. Oysters, Shucked. Pencils, Lead. Pens. Perfumery. ♦Phonographs. ♦Polish, Furniture, in glass or earthenware. ♦Polish, Stove, in glass or earthenware. . Poultry, Dressed. Quilts, Bed. ♦Reels, Hose, lawn. ♦Rugs, Cocoa, Grass, Hemp, Jute or Pine Fibre. ♦Sauce and Sauces, N. O. S., in glass. ♦Screens, Door or Window, cloth or wire. Shades, Window. ♦Shrubbery, in bundles. Suspenders. Tea, N. O. S. Thread. Tobacco, cut or granulated, smoking or chewing, in drums, boxes, kegs or bbls. Toys, N. O. S. ♦Trunks, N. O. S. Umbrellas. Valises, Satchels, Travelers' Telescope Cases, Traveling Bags and Dress Suit Cases. LESS THAN CARLOAD. SECOND CLASS. Albumen. ♦Bags or Sacks, Mail, Govern- ment. ♦Blue, Soluble. ♦Bluing, Dry. ♦Boards, Lap. ♦Boilers, Range, Copper. Boilers, Wash, Copper, nested. ♦Booths, Telephone, Wood. Brass, Sheet, perforated. 77 Butter, Cocoa or Coating, in wood. Caviar. Chandeliers. Chinaware, in bbls. or casks. *Cistern, Slate. Clippers, Hair (hand). ♦Coolers and Tuyers, bronze or copper. ♦Counters, Leather. *Croquet Sets. Cutlery, not plated. *Elbows, Conductor Pipe, tin, nested. ♦Extract, Soap, Liquid, in bot- tles. *Felt, oiler, Hair. Furniture (New). *Beds, Folding, also Book- cases, Chiffoniers, and Desks (K. D.). ♦Bedsteads, Iron or Steel ♦Bedsteads, Wood. *Settees, Wood, K. D. Gauges, Water. Griddles, Asbestos. Halters. ♦Heels, Leather. Ink Stands or Ink Wells. *Leather, Artificial, enamel or patent. Linoleum, under 13 feet. Pencils, Slate. ♦Pipes, Tobacco, common clay. Roots, Ginger. ♦Roots, Licorice. ♦Shot, in bags. Supplies, Government. Ordnance Stores. Quartermasters' Stores. ♦Syrup, Fruit, in cans or boxes. ♦Wringers, Clothes, crated or boxed. LESS THAN CARLOAD. THIRD CLASS. *Bags or Sacks, Paper. ♦Blackboard, Silicate. ♦Blackboard, Slate. ♦Blackboard, Wood. ♦Boards, Engraving, wood. *Boards, Stove. Buckets, Chain, Pump. Cheese, in boxes or casks. *Chickory. ♦Chow-chow, in kegs, bbls. or casks. Clams, fresh, in shells, in bags or bbls. ♦Compounds, Polishing, in cakes, bars, or in bulk. ♦Crayons, School, Chalk or Talc. ♦Glassware, Lights, Floor, Vault or Prism. ♦Griddles, Soapstone. ♦Hods, Brick or Mortar, wood, K. D. Horseradish, in kegs, bbls. or casks. ♦Hose, Rubber, Canvas or Leather, in boxes or bbls. ♦Mats, Door, Wire. ♦Metal, Babbitt, in pigs or slabs. ♦Milk, Condensed, in cans, kegs or bbls. ♦Olives, in kegs, bbls. or casks. Oysters, in shell. ♦Packing, Asbestos. ♦Pickles, in kegs, bbls. or casks. ♦Pins, Clothes. ♦Rivets, Brass, Bronze or Cop- per. ♦Rollers, Curtain or Shade. Rubber, Crude. ^Spools, Wood. ♦Stain, Leather. Tobacco, Plug, in caddies. ♦Toothpicks, wood. ♦Vegetables, etc., Garlic, dried. ♦Veneering. LESS THAN CARLOAD. FOURTH CLASS. ♦Blocks, Last, wood. Compounds, Welding, in kegs, bbls. or casks. Cotton, N. O. S., in compress- ed bales. ♦Foots, Oil. Rubber, Scrap. ♦Stain, Furniture or Wood. LESS THAN CARLOAD. FIFTH CLASS. Rags, in bales. Waste, Jute, in compressed bales. 78 CARLOADS. FIRST CLASS. *Berries, Green. IRON AND STEEL ARTICLES. *Elbows, Stove Pipe, crated. ♦Pipe, Stove and Stove Pipe and Damper, crated. CARLOADS. SECOND CLASS. *Broom Corn. *Feathers and Feather Clip- ping, pressed in bales. ♦Frames, Door, S. U. ♦Furniture (New) N. O. S., Tables, K. D. ♦Herbs, Dried, in packages. ♦Hops, compressed in bales. ♦Poultry, Alive. ♦Stones, Lithographic. CARLOADS. THIRD CLASS. ♦Bananas. ♦Batteries, Electric. ♦Belting, Canvas, Rubber or Leather. ♦Carrousels. ♦Cement, Liquid, in glass or earthenware. ♦Chocolate, (not choc, confec- tionery). ♦Cocoa and Cocoa mixtures or substitutes. ♦Colors or coloring— Butter and cheese. ♦Corkwood. ♦Disinfectants, N. O. S., Liq- uid, in glass. ♦Disinfectants, other than liq- uid, in glass. ♦Drugs, N. O. S., in glass. ♦Extracts, Beef. . ♦Fixtures, Electrical. ♦Frames, Picture. ♦Freezers, Ice Cream. ♦Furniture, Mattresses. Hides, etc. ♦Skins, Sheep and Sheep Felts, dry. ♦Hods, Coal, (Iron or Steel). ♦Instruments, Electrical. ♦Lemons. ♦Matter, Advertising, Printed. ♦Matter, Printed. ♦Medicines, in glass. ♦Mucilage, in glass or earthen- ware. ♦Oranges. ♦Powder, Baking. ♦Rattan. ♦Reeds. ♦Tents. CARLOADS. FOURTH CLASS. ♦Agate, in the rough. ♦Almonds, not shelled. ♦Ammonia, Anhydrous, liquid. ♦Ammunition, fixed. ♦Arsenic, crude. ♦Bagging, Burlap or Gunny, new or old. ♦Barrels, etc., Kegs. ♦Beans, Cocoa. ♦Bearings, Car, Journal. ♦Berries, Dried. ♦Biscuits, N. O. S. ♦Brass, Sheet, N. O. S. and Plate. ♦Burlaps (Not dyed for wall covering). ♦Carbons, Electric light. ♦Cartridges, Firearm, paper or metal. ♦Castings, Brass. ♦Cloth, Brattice. ♦Compound, Boiler, Cleansing, dry. ♦Compound, Washing, Liquid, in bbls. ♦Copper, plate or sheet, other than perforated. ♦Cordage, N. O. S. ♦Covering, Boiler or Pipe, as- bestos, cork or felt. ♦Crackers, other than in bask- ets. ♦Cranberries. ♦Cream of Tartar. ♦Currants, dried, in bags, boxes, etc. ♦Cylinders, Soda Water (tubes or drums). ♦Dates. Engines, (not locomotives). ♦Fire, Chemicals. 79 *Fibre, Bamboo. ♦Fibre, Cocoa, in dholls or comp. bales. ♦Fibre, Palm or Palmetto. *Figs, in bags, boxes or casks. ♦Flax. ♦Flues, Brass or Copper. *Fruit, dried or evaporated, in bags, boxes, etc. Furniture, (New). ♦School. ♦Desks and Seats, School, K. D. ♦Gum, chicle, copal, demar, pontiac and shellac. ♦Hides, Beef or Horse, dry, pressed in bales. ♦Honey, in bbls. or casks. IRON AND STEEL ARTICLES. ♦Castings, Sewing Machine. ♦Meters, Gas, Castiron. ♦Safes, S. U., each 10,000 lbs. or over. ♦Lanterns, other than paper. ♦Lead, Bar, loose. ♦Lead, Coil, loose. ♦Lead, Sheet, loose. ♦Leather, N. O. S. ♦Licorice, Mass. ♦Matches. ♦Mats, cocoa, hemp, jute or pine fibre. ♦Nuts, not shelled, in bbls. or casks. ♦Oakum. ♦Oil, Aniline, in cans. ♦Peanuts. ♦Pepper. ♦Pipe, Lead, on reels, or in coils or rolls. ♦Plates, Battery, copper or lead. ♦Potash, Bi-chromate of. ♦Raisins. ♦Rod, Lightning and Fixtures. ♦Rollers, Rubber (for clothes wringers), crated. ♦Roofing, Metal. ♦Rope, wire, copper, on reels or in coils. ♦Rope, N. O. S. ♦Salts, Aniline, in boxes. ♦Screws, brass or copper. ♦Shells, couch. ♦Soda, Bi-chromate of. ♦Soles, Leather. ♦Tin Plate, crystallized, etc. Tinware. ♦Tobacco, Leaf, in bundles, crates or bales. ♦Twine, in bales, boxes or bbls. ♦Varnish, in bulk. Vegetables and Garden Roots. ♦Beans, Green. ♦Celery, Cucumbers and Rhubarb. ♦Melons and Canteloupes, loose. ♦Onions, Spring, Green. ♦Peas, Green. ♦Wire, Brass or Copper. ♦Wrappers, Bottle, Excelsior or Straw. CARLOADS — FIFTH CLASS. ♦Acid, Acetic, liquid. ♦Acid, Lactic. ♦Acid, Sulphuric. Agricultural Implements and Machines. ♦Axes or Hooks, bush. ♦Cutters, Tobacco Plant or Shears. ♦Mills, Fanning. ♦Planters, Potato, hand. ♦Pruners, Tree. ♦Rollers, Garden or Lawn. ♦Sowers, Seed, hand. ♦Stackers, Straw. Agricultural Implements and Machines, Parts. ♦Aprons for Self-Binding Reapers. ♦Blocks, Tread, Horse-power, wood. ♦Seats, iron or steel. ♦Ale, Ginger. ♦Ale and Beer, Beer Tonic and Porter. ♦Apples, Chopped. ♦Apples, Dried or Evaporated. ♦Apples, Green. ♦Ashes, Pearl or Pot. ♦Balusters. ♦Barium, Chloride of ♦Bark, Tan. ♦Beer, Root. 80 ♦Board, Binders. ♦Brackets, Mast or Pole, wood. ♦Bran, Mustard. ♦Brick, Bath. ♦Brick, Enameled, Glazed or Salt-Glazed. ♦Brick, Stove or Stove Lin- ings. ♦Buckets, N. O. S. ♦Bungs or Plugs, wood. ♦Cannon and Caissons. ♦Carriages, Cannon or Gun, Stationary, K. D. ♦Catsup. ♦Ceiling, Paneling, Trimmings, Wainscoting and other in- side House Finishing, wood. ♦Chalk, Crude, in pkgs. ♦Cider, in wood. ♦Cocoanut, dessicated, N. O. S. in boxes, bbls. or pails. ♦Compressors, Air. ♦Cores, Apple, green or dried. ♦Cork, Chips or Waste, in comp, bbls. ♦Couplers, Car, Automatic, iron or steel. ♦Covers, Pail, wood. ♦Degras, in wood. ♦Dip, Sheep. ♦Disinfectants other than li- quid, in boxes, kegs, bbls. or casks. ♦Doors, wood. ♦Doors and Door Frames. ♦Dryers, Paint or Japan, in wood. ♦Emery, Ground, in bags or boxes. ♦Excelsior, in bales. ♦Extracts, Bark and Wood, Dry. ♦Extract, Witch Hazel, in wood. ♦Fencing Wire, N. O. S. ♦Ferro-Manganese, Ferro- Phosphorous and Ferro- Silicon. ♦Finish, Wall. ♦Fish, Canned. ♦Fleshings. ♦Frames, Blind. ♦Frames, Door, K. D. ♦Frames, Sash. ♦Frames. Screen, Door and Window, wood. ♦Gambier. ♦Glucose, in kegs, bbls . or casks. ♦Hair, compressed in bales. ♦Hemp. ♦Hides, Beef or Horse, green. ♦Hides, etc., Skins, Sheep and Sheep Pelts, green. Iron and Steetl Articles. ♦Angle. ♦Axes. ♦Axles, Car or Locomotive. ♦Band. ♦Bands, Hay. ♦Bands, Shingle. ♦Bar. ♦Bars, Claw, Crow, Spliced or Tampling. ♦Bars, Grate. ♦Bars, Sheet. ♦Bars, Tin Plate. ♦Beams, Brake. ♦Bearings, Brake. ♦Bearings, Car Bolster, Ball Bearings. ♦Belting, Chain, in pkgs. ♦Boiler. ♦Boilers, Range. ♦Boxes, Annealing. ♦Boxes, Car Journal. ♦Braces, Rail. ♦Bridge. ♦Bumpers. ♦Calks, Toe. ♦Castings, Furnace. ♦Castings, Locomotive. ♦Castings, Stoves, crated or boxed. ♦Chain. ♦Chairs, Rail. ♦Cloth, Wire. ♦Couplers, Car. ♦Covers, Journal Box. ♦Dies, Crusher. ♦Drawbars or Drawheads. ♦Flues, Boiler, Welded. ♦Frogs, Rail. ♦Furnaces, Heating, K. D. ♦Hods, Brick or Mortar, K. D. ♦Hook. Si ♦Links, Car Coupling. ♦Nails, in boxes or kegs. ♦Nuts. ♦Plate, Armor, Black, Cor- rugated, Nail and Tack. ♦Plates, Boiler. *Plates, Crusher. ♦Plates, Stove, crated or boxed. ♦Post, Fence. *Radiators, Steam. ♦Ranges, Water Closets, in crates or boxes. *Registers, Air. *Retorts, Gas. *Rods, Brake. ♦Rods, Sucker. ♦Rods, Wire. ♦Roofing. ♦Screws, N. O. S. ♦Sheet, U. S. Stand. Gauge, No. 20. ♦Sheet, Corrugated. ♦Sheet, Galvanized. ♦Shoes, Brake. ♦Shoes, Crusher. ♦Shoes, Horse, Shoe, Mule or Ox. ♦Skelp. *Spiegel-iron or Spiegel-eis- en. ♦Spikes, Rail. ♦Staples, Ingot Mold. ♦Tacks. ♦Ties, Cotton. ♦Ware, Stove, crated or boxed. ♦Washers. ♦Wheels, Car and Locomo- tive. ♦Jute and Jute Lashes. ♦Kalsomine. ♦Lathing, Wire. ♦Lead, Black. ♦Leather, Scrap. ♦Lentils. ♦Lime, Acetate of ♦Lime, Chloride of, in kegs or bbls. Locomotives and Locomotive Tenders. ♦Logwood, chipped or ground. ♦Lumber, Cigar Box. Machines and Machinery. ♦Blowers, Blacksmith and Rotary, K. D. *Looms. ♦Presses, Printing, K. D. ♦Magnesium, Sulphate of Crystals (Epsom Salts) ♦Manganese. ♦Manila. ♦Molasses, in hhds. ♦Moss, Flax. ♦Mustard, in kegs, bbls. or casks. ♦Oil, Castor, in wood. ♦Oil, Cocoanut, in wood. ♦Oil, Linseed, in wood. ♦Oil, Cottonseed, in wood. ♦Oil, Palm, in wood. ♦Oil, Red, in wood. ♦Oil, Tallow, in wood. ♦Oil, Tanners, in wood. ♦Ore, Asbestos. ♦Ore, Graphite. ♦Paper, Printing. ♦Paper, Wrapping. ♦Paris Green, in boxes, kegs or bbls. ♦Plumbago, in bbls. or casks. ♦Potash, Caustic, in iron drums. ♦Retorts, Gas. Clay. ♦Roofing, Asbestos or Cement. ♦Roofing, Tin. ♦Sago. ♦Saltpetre. ♦Salts, Rochelle, in bbls. Sauerkraut. ♦Seeds, Alfalfa. ♦Seeds, Bird, in bags. ♦Seeds, Rape. ♦Seeds, Clover. ♦Seeds, Foenugreek, in bags. ♦Seeds, Garden. ♦Seeds, Grass. ♦Seeds, Hemp. ♦Shells, Ordnance (Cannon or Mortar). ♦Sinks, Stone or Earthenware. ♦Sisal. Sizing. ♦Skins, Apple. Slate, School. ♦Soda, Acetate of 82 Soda, Bi-Sulphite and Hypo- Sulphite of Soda, Nitrate of ♦Springs, Wire. ♦Staples, Wire. ♦Stock or Stuff Glue (Hides, Pates, Scrap). Stone, Pumice. Stone, Blocks or Slabs. Stones, Grindstone, K. D. ♦Strawboard. Substitutes, or Mixtures, Cof- fee. Syrup, N. O. S. Tallow. ♦Tapioca. ♦Terne Plate, Sheet. ♦Terra-Cotta. Tile, Floor and Facing, Mar- ble and Slate. Tin, Disks or Circles. ♦Tin, Pigs, Bars or Slabs. Tow. ♦Turpentine or Substitutes, in wood. Tuyeres, Clay. Vegetables. ♦Beans, Dried. ♦Peas, Dried. ♦Potatoes and Sweet Pota- toes. ♦Vinegar, in wood. ♦Wood, Dye, chipped or ground. ♦Woods of Value, Logs. ♦Zinc, Oxide of ♦Zincs, Battery. CARLOAD — SIXTH CLASS. ♦Agalite. ♦Alum, in bbls. or casks. ♦Alumina, Sulphate of, bbls. or casks. ♦Arms, Cross, (Mast or Pole), wood. ♦Ash, Ammonia, or Soda. ♦Ashes.Brass, Lead, Wood and Zinc. ♦Ashes, Cotton Seed. ♦Ashes, Garbage. ♦Barrels, Ale or Beer, wood, new. ♦Barytes. ♦Billets, Spoke. ♦Bleach or Bleaching, Dry, in casks. ♦Bolts, Handle, Heading, Hoop, Shingle, Spoke and Stave, wood. ♦Bone, N. O. S., ground or un- ground. ♦Brick, Cinder. ♦Brimstone. ♦Cake, Nitre. ♦Cake, Oil. Cement, Asphalt, in bulk. ♦Charcoal, ground. ♦Charcoal, lump. ♦Cinder, N. O. S. ♦Clay, Fire. ♦Clinkers, Carbon, (from gas retorts). ♦Coal, Cannel. ♦Coke, Gas House and Petrol- eum. ♦Cracklings. ♦Crucibles, Broken, (not pul- verized). ♦Dolomite. ♦Dust, Zinc, Flue. ♦Earth, Fullers, in bags or bbls. ♦Facings, Foundry, in bbls or casks. ♦Feed, Chop or Mill. ♦Feed, Glucose. ♦Feldspar. Fertilizers, Tobacco, in bulk. ♦Fertilizers, N. O. S. ♦Flint, Ground. ♦Flour, in bbls. ♦Flues, Earthen. ♦Fluor-Spar. ♦Glass, Broken (cullet) in bbls. or casks. ♦Grain, Barley. ♦Grain, Buckwheat. ♦Grain, Corn. ♦Grain, Oats. ♦Grain, Rye. ♦Grain, Wheat. ♦Grains, Brewers or Distillers. ♦Grits. ♦Heading. ♦Hulls, Oat. ♦Hulls, Rice. ♦Ice. 83 Iron and Steel Articles. *Bars, Muck or Puddle. Billets, Blooms and Ingots. *Cinder or Scale, Mill. ♦Crop Ends. ♦Mass Iron, Spent. ♦Moulds, Ingot. *Pig, Chill. ♦Pig, Sand. ♦Rails, New and Old. ♦Scale, Roll. ♦Scrap. ♦Slabs, in the Rough. ♦Ties, Railroad. ♦Kainit. ♦Kaolin. ♦Lath. ♦Lead, Pig. ♦Lead, Scrap. ♦Lumber, Creosoted. Magnesite, Crude. ♦Malt. ♦Marl. ♦Meal, Corn, in bbls. ♦Meal, Cotton Seed. ♦Meal, Glucose. ♦Meal, Linseed. ♦Meal, Oil. ♦Middlings. ♦Ore, Emery. ♦Ore, Beauxite. ♦Ore, Chrome. ♦Ore, Manganese. ♦Piles. ♦Pipe, Sewer, Cement or Clay. ♦Pitch, Solid, in cakes. ♦Plaster, Stucco. ♦Plaster, Wall. ♦Potash, Muriate of ♦Potash, Sulphate of ♦Pulp, Mineral. ♦Pulp, Wood. ♦Rice, N. O. S. Rock, Phosphate. ♦Rosin, in bbls. ♦Salt, in boxes or sacks. Sand, N. O. S. ♦Seeds, Cotton, N. O. S. ♦Seeds, Flax. ♦Seeds, Linseed. ♦Shells, Ground, Oyster, Clam or Mussel. ♦Shingles, Wood. ♦Shooks. ♦Shorts. # ♦Skimmings, Lead or Zinc. ♦Slate, Roofing. ♦Soda, Caustic, in bbls. or casks. ♦Soda, Sulphate of (Saltcake). ♦Spelter. ♦Staves. ♦Stock or Stuff, Cooperage. ♦Stone, Building. ♦Stone, Crushed. ♦Sulphur. ♦Talc. Tankage. ♦Ties, Railroad. ♦Tile, Building, Hollow. ♦Tile, Drain. ♦Tile, Roofing. Timber. ♦Tin, Scrap. ♦Tobacco, Stems. ♦Whiting. ♦Zinc, pig or slab. 84 APPENDIX B. Statement showing prices of railway supplies purchased in 1897 and 1907 as disclosed by the records of various Eastern railways. It should be noted that the quality of the supplies, made the basis of this statement, may have changed somewhat between 1897 and 1907 but in few in- stances would the allowance for this source of variation materially affect the results. Prices. Class. Increase. 1897. 1807. Per cent. Locomotives- Mogul $10,181.00 $14,111.00 38.6 10 Wheel Passenger 11,026.00 15,734.00 42.7 Atlantic not built. 16,236.00 Pacific " 19,580.00 Prairie " 16,468.00 8 Wheel Passenger 10,243.00 13.581.00 32.5 6 Wheel Switcher 9,392.00 12,098.00 28.8 Cars, (1899-1907) — Hopper $475.00 $1,185.00 Box 783.00 1,110.00 490.00 844.00 519.00 897.00 Note: — The prices of cars shown above are typical prices paid by different roads In the respective years and employed in the same service. As the cars purchased In 1907 are of more modern construction, better quality and larger capacity than those purchased in 1899, no accurate comparison can be made or percentage of increased cost shown. (1902-1907)— 100,000 lbs. Capacity Box Car with Steel Un- derframe and wood superstructure $1,043.49 $1,148.88 10.09 100.000 lbs. Capacity Composite Gondola Car with Steel TJnderframe and wood super- structure 1,021.62 1,148.45 12.42 100,000 lbs. Capacity Composite Flat Car with Steel TJnderframe and wood floor 953.23 1,010.60 6.02 100.000 lbs. Capacity, all-steel Hopper Car .... 1,001.22 1,076.05 7.47 Angle Ban Cwt. $1.02 $1.55 52.0 Axles- Locomotive " 2.75 2.95 7.2 2.72 2.85 4.7 Tender " 1.40 2.35 67.8 Car " 1.60 1.95 21.9 1.45 2.20 51.7 1.68 2.25 34.0 Bar Iron " 1.19 1.78 49.5 1. 10 1.80 63.6 1.05 1.50 42.8 85 Class. Increase. 1897. 1907. Per cent. Brick- Common M. Paving " Castings- Brass lb. Steel .. 7.7.7. Cwt. fcl. Iron " Gray " Coal Ton Run of Mine " % " Couplers- Freight Set Passenger " Tender " Fencing M. Ft. Flues Ft. Forgings— Axles lb. Crank Pins " Piston Bods " Main Bods " Side Rods " Lead- White Cwt. 4.95 6.25 26.3 Lumber — Large Bridge Timbers M Ft. $4.50 $6.00 33.3 8.00 11.00 37.5 0.11 0.25 127.3 0.12 0.253/4 114.6 3.50 6.00 71.4 2.50 4.25 70.0 2.70 3.60 33.3 2.35 2.85 21.2 1.15 2.00 74.0 1.20 1.65 37.5 1.46 1.76 20.5 1.32 1.82 38.0 1.17 1.52 29.8 1.83 2.07 13.1 .65 1.05 61.5 .75 1.15 53.3 14.00 15.00 7.1 20.50 27.00 31.7 18.00 18.50 2.8 12.00 25.00 108.3 10.00 18.15 81.5 0.13 O.I5'/ 2 19.2 0.14 0.15 7.1 0.02 0.03 50.0 0.05 0.10 100.0 0.06 0.10 66.6 0.08 0.10 25.0 0.08 0.10 25.0 Car Siding M. Ft Stringers M. Ft. Car Flooring M. Ft. Piles (Soft) Ft. (Hard) " Heavy Planks M. Ft. Cross Ties (Hardwood) Each 13.12 25.62 95.3 23.00 38.00 65.2 20.00 33.00 65.0 17.00 28.00 64.7 22.50 38.00 68.9 15.00 27.00 80.0 17.00 35.00 105.9 13.00 33.00 83.3 18.00 28.00 55.5 16.00 34.00 112.5 18.00 26.00 44.4 17.00 28.00 64.7 17.00 24.00 41.2 20.00 33.00 65.0 11.00 25.00 127.2 14.00 19.71 40.8 0.08 0.14 75.0 0.08 0.11 37.5 0.12 0.17 41.7 14.00 22.00 57.1 14.00 30.00 M4.3 16.00 27.00 63.8 0.47 0.80 70.2 0.60 0.85 41.7 0.55 0.75 36.4 0.37 0.70 E9.2 0.45 0.60 33.3 0.45 0.55 22.2 0.48 0.90 87.5 0.38 0.80 110.5 0.38 0.67 76.4 86 Prlcea. Class. Increase. 1897. 1907. Ter cent. Cross Ties— (Continued.) Softwood Each Nails Cwt. Wire " Oil- Kerosene Gal. Signal " 300 degree Paint— Gal. Cwt Pipe — Cast Iron Ton. Copper lb. Rails- Steel Gross Ton Rubber Hose— 1 inch Ft. H4 Inch " Springs- Loco Cwt. 4.05 4.10 1.2 Switches— Comp. 80 Frogs 80 Switch Lamps Doz. Tile Rod Track Bolts Cwt. 0.22 0.60 172.7 0.20 0.28 40.0 0.23 0.48 108.7 0.48 0.58 20.8 1.60 2.20 37.5 1.33 2.16 62.4 1.10 2.15 104.5 1.27 1.85 45.7 1.48 2.11 42.6 0.06 0.09'/ 2 58.3 0.28 0.36 28.6 0.20 0.36 80.0 0.09 0.10 II. 1 0.77 1.03 33.8 0.50 0.65 30.0 4.75 6.62 39.4 5.50 6.50 18.2 16.00 34.00 112.5 16.75 29.15 74.0 13.50 21.00 55.6 16.00 32.00 100.0 0.31 .34 9.7 0.30 .33 10.0 0.30 .35 16.7 19.00 28.00 47.4 18.00 28.00 55.6 18.05 26.60 47.4 0.34 0.41 20.8 0.40 0.46 15.0 Track Spikes Cwt. Track Tools- Axes Do*. Drills Each Ratchets Doz. Shovels " Lamp Bars Each Waste- Colored lb. White " 31.90 40.77 27.8 18.75 27.50 46.7 45.00 65.00 44.4 0.40 0.60 50.0 1.70 2.45 44.1 1.65 2.60 57.6 2.20 2.75 25.0 1.65 2.45 48.5 1.75 2.76 57.7 1.85 2.52 36.2 1.35 1.70 25.9 1.50 2.60 73.3 1.65 2.25 36.4 1.50 1.90 26.7 1.45 1.90 31.0 1.75 2.00 14.3 8.00 9.00 12.5 0.35 0.46 31.4 5.13 6.65 29.6 5.00 5.65 13.0 0.52 0.65 25.0 0.047 0.055 17.0 0.06 0.08 33.3 87 Prices. Class. 1897. 1907. Increase. Per cent. Wheels- Car 5.60 6.00 7.50 4.78 4.50 6.75 6.50 6.00 50.00 42.50 42.50 54.00 1.70 1.50 .13 .13 7.80 8.35 9.30 8.46 9.00 8.00 9.00 9.05 56.00 44.50 50.50 60.00 2.50 2.20 .26 .18 39.29 33-ln. Steel 39.17 24.0 76.9 100.0 18.5 38.5 50.8 12.0 M 4.7 S6-ln. " m 18.8 Wire- Barbed Cwt. II. 1 47.0 46.7 , Lb. 100.0 38.5 88 APPENDIX C. Statement showing the relative wages per hour for dif- ferent classes of labor, in 1897 and 1907, as reported by the Bureau of Labor of the United States Department of Commerce and Labor in Bulletin No. yj, the percentage increase in wages, and the increased purchasing power of each class of workmen in connection with railway freight service at the average rates for 1897 and 1907 reported by the Interstate Commerce Commission. Industry and Occupation. Relative wages per hour. 1897. Increased power to purchase rail- Increase way freight ser- 1907. per cent. vice, per cent. 125.1 30.58 37.29 155.8 66.81 75.38 141.0 16.72 22.72 120.5 21.59 27.84 128.8 33.33 40.18 121.6 29.36 36.01 130.2 33.13 39.97 132.3 35.83 42.81 128.9 29.16 35.80 121.6 21.72 27.98 129.5 28.09 34.67 125.1 23.62 29.97 112.3 6.75 12.24 114.3 12.94 18.75 126.8 25.54 31.99 127.1 26.59 33.10 132.2 21.96 28.23 129.6 26.69 33.20 135.2 38.52 45.-54 101.0 Decrease • 4.93 135.6 38.51 45.63 128.2 15.08 21.00 124.9 23.91 30.28 123.0 36.41 32.91 127.6 25.10 31.53 114.8 18.96 25.07 126.4 27.94 34.52 125.9 33.79 40.67 140.9 41.75 49.04 151.9 51.90 59.71 150.0 45.77 53.26 Agricultural Implements — Blacksmiths, male 95.8 Fitters, male 93.4 Grinders, male 120.8 Machine, woodworkers, male 99. 1 Machinists, male 96.6 Molders, iron, malo 94.0 Painters, male 97.8 Pattern makers, wood, male 97.4 Bakery, Bread- Bakers, male 99.8 Blacksmithing and Horseshoeing — Blacksmiths, male 99.9 Horseshoers, floormen, male 1 1 . 1 Horseshoers, f orgemen, male 101.2 Boots and Shoes — Closers-on, female 105.2 Cutters, outsole, male 101.2 Cutters, upper, male 101. Edge trimmers, male 1 00.4 Goodyear stitchers, male 1 08.4 Heel trimmers, male 1 02.3 Lasters, macliine, male 97.6 McKay stitchers, male 101.2 Treers, male 97.9 Tampers, male 1 1 1 .4 Vampers, female 100.8 Brick— Brick-machine tenders, male 97.3 Kiln firemen, male 102.0 Kiln setters, male 96.5 Laborers, male 98.8 Offbearers, male 94. 1 Building Trades — Bricklayers, male 99.4 Carpenters, male 100.0 Cornice makers, male 102.9 89 Continued from preceding page. Industry and Occupation. Relative wages per hour. 1897. Increased power to purchase rail- Increase, way freight ser- 1907. per cent. vice, per cent. 155.2 52.76 60.61 135.9 36.31 43.32 158.2 47.03 54.59 127.2 29.14 35.78 140.8 32.58 39.39 142.0 41.29 48.55 142.7 41.15 48.41 153.3 57.07 65.14 148.1 46.34 53.86 116.6 15.56 21.50 137.2 39.15 46.30 133.8 33.27 40.12 147.3 45.12 52.58 139.7 39.28 46.44' 129.0 25.24 31.68 190.3 82.60 92.20 110.2 10.98 16.68 139.5 44.11 51.52 120.3 23.51 29.86 108.4 4.94 10.33 112.0 9.06 14.67 116.7 15.32 21.25 122.2 22.81 29.12 137.7 34.08 40.97 107.9 .65 5.82 125.0 27.03 33.56 113.2 10.55 16.23 118.3 20.10 26.27 120.0 17.42 23.46 117.2 17.08 23.10 121.6 22.33 28.62 120.7 22.04 28.31 106.3 6.94 12.44 119.4 20.12 26.29 128.9 30.60 37.31 122.4 23.51 29.36 128.2 31.89 38.67 124.5 26.78 33.30 II 1.9 13.60 19.44 122.9 28.83 35.45 126.0 26.76 33.28 130.6 35.48 42.44 129.6 34.72 41.64 118.0 17.06 23.08 122.7 26.49 32.99 119.9 20.38 26.57 138.1 35.00 41.94 126.2 31.19 37.93 101.2 2.12 7.37 110.4 6.77 12.26 113.8 10.06 15.72 108.7 10.47 16.15 90.2 Decrease Decrease 120.3 18.76 24.86 123.2 29.68 36.35 112.0 13.59 19.43 134.0 35.35 42.31 134.3 33.23 40.08 123.5 27.45 34.00 Gas fitters, male 101.6 Hod Carriers, male 99.7 Inside wiremen, male 107.6 Laborers, male 98.5 Lathers, wood, male 1 06.2 Painters, male 100.5 Paper hangers, male 1 1 . 1 Plasterers, male 97.6 Plumbers, male 101.2 Roofers, gravel and tar, male 100.9 Roofers, slate and tile, male 98.6 Roofers, tin. male 100.4 Steam fitters, male 101.5 Stone masons, male 1 00.3 Stone setters, male 103.0 Structural iron workers, male 1 04. 1 Candy — Candy makers, male 99.3 Dippers, female 96.8 Carpets — Burlers, female 97.4 Dyers, male 1 03.3 Loom fixers, male 102.7 Spoolers, female 101.2 Twisters, female 99.5 Weavers, Brussels and Wilton, male .102.7 Weavers, Ingrain, female 1 07.2 Winders, female 98.4 Carriajjes and Wattons — Blacksmiths, male 1 02.4 Body makers, carriage, male 98.5 Ironers, male 1 02.2 Machine, woodworkers, male 100. 1 Painters, male 99.4 Trimmers, carriage, male 98.9 Woodworkers, male 99.4 Cars, Steam Railroads — Blacksmiths, male £9.4 Boiler makers, male 98.7 Brass finishers, male 99.1 Cabinet makers, male 97.2 Carpenters, male 98.2 Laborers, male 98.5 Machine woodworkers, male 95.4 Machinists, male 99.4 Molders, brass, male 96.4 Molders, iron, male 96.2 Painters, male 1 00.8 Pattern makers, wood, male 97.0 Pipe fitters, male 99.6 Tinsmiths, male 102.3 Upholsterers, male 96.2 Clothing, Factory Product — Buttonhole makers, machine, male . . 99. 1 Buttonhole makers, machine, female. 103.4 Cutters, hand, male 103.4 Cutters, machine, male 98.4 Examiners, female 1 02.8 Finishers, female 101.3 Pressers, male 95.0 Sewing machine operators, male 98.6 Sewing machine operators, female .. 99.0 Cotton Goods — Carding-machine tenders, male 100.8 Dyers, male 96.9 go Continued from preceding page. Industry and Occupation. Relative wages per hour. 1897. Increased power to purchase rail- Increase. way freight ser- 1907. per cent. rlce, per cent. 128.8 28.93 35.56 303.8 178.21 192.51 171.4 64.65 73.11 138.4 35.29 42.24 147.1 54.35 62.28 136.5 35.42 42.38 M7.3 15.45 21.33 II 1.4 10.41 16.09 117.7 17.00 23.01 113.9 12.33 18.10 107.5 6.23 11.69 100.2 Decrease 5.03 127.8 25.29 31.73 108.7 7.62 13.15 109.1 9.76 15.40 121.0 10.30 15.97 112.8 14.29 20.16 122.9 19.32 25.45 113. 1 14.59 20.48 109.4 10.95 16.65 121.5 19.59 25.74 118.0 19.68 25.83 123.0 23.12 29.45 121.3 18.23 24.31 116.2 18.57 24.66 124.2 22.73 29.04 121. 1 24.21 30.59 123.6 23.72 30.08 120.4 20.76 26.97 116.2 15.85 21.80 127.0 27.00 33.53 127.2 27.84 34.41 128.5 30.99 37.72 120.7 19.50 25.64 122.1 21.61 27.86 125.6 25.73 32.19 131.8 35.04 41.98 107.1 3.48 8.80 107.0 7.43 12.95 108.5 9.15 14.76 103.5 4.93 10.32 138.8 44.58 52.01 156.0 66.31 74.86 129.3 41.78 49.07 205.0 113.76 124.75 106.8 5.01 10.41 113.9 10.80 16.50 174.8 73.58 82.50 119.3 27.73 34.30 107.2 7.85 13.39 ■ 14.1 15.84 21.79 108.9 10.33 16.00 121.2 22.18 28.46 129.9 31.34 38.09 132.1 35.63 42.60 113.4 13.51 19.34 121.4 19.25 25.38 Loom fixers, male 99.9 Spinners, frame, male 109.2 Spinners, frame, female 104. 1 Spinners, mule, male 102.3 Weavers, male 95.3 Weavers, female 100.8 Dyeing, Finishing and Printing Textiles — Bleachers, male 101.6 Calendars, male 100.9 Color mixers, male 100.6 Dyers, male 101.4 Engravers, male 101.2 Printers, male 100.3 Electrical Apparatus and Supplies- Armature winders, male 102.0 Brass finishers, male 101. Machinists, male 99.4 Pattern makers, male 1 09.7 Flour — Bolters, male 98.7 Laborers, male 1 03.0 Millers, male 98.7 Millwrights, male 98.6 Packers, male 101.6 Foundry and Machine Shop — Blacksmiths, male 98.6 Boiler makers, male 99.9 Boiler riveters, male 102.6 Brass finishers, male 98.0 Core makers, male 101.2 Core makers, female 97.5 Laborers, male 99.9 Machinists, male 99.7 Molders, brass, male 100.3 Molders, iron, male 1 00.0 Pattern makers, wood, male 99.5 Furniture — Cabinetmakers, male 98. 1 Carvers, hand, male 1 01.0 Machine woodworkers, male 100.4 Sawyers, male* 99.9 Upholsterers, male 97.6 ♦Including all classes of sawyers. Gas — Laborers, male 103.5 Pipe fitters, male 99.6 Glass — Batch makers, male 99.4 Blowers, flint glass, male 103.4 Blowers, green glass, male 96.0 Blowers, window glass, male 93.8 Cutters, window glass, male 91.2 Flatteners, window glass, male 95.9 Gaffers, flint glass, male 101.7 Gatherers, flint glass, male 1 02.8 Gatherers, window glass, male 100.7 Laborers, male 93.4 Leersmen, male 99.4 Packers, male 98.5 Teasers, male 93.7 Harness — Collar makers, male 99.2 Cutters, male 98.9 Fitters and finishers, male 97.4 Harness makers, male 99.9 Stitchers, hand, male 101.8 Qi Continued from preceding page. Industry and Occupation. Relative wages per hour. 1897. Increased power to purchase rail- Increase, way freight ser- 1907. per cent. vice, per cent. 122.3 22.79 29.19 120.2 25.86 32.33 120.5 18.84 24.95 137.6 29.57 36.23 104.7 15.69 21.64 144.2 43.91 51.31 124.0 26.53 33.03 107.5 16.22 22.19 201.4 100.00 110.23 114.5 14.61 20.50 90.4 Decrease. Decrease. 138.8 52.03 59.84 119.3 11.81 17.56 118.0 21.03 27.25 134.6 36.93 43.97 148.6 50.10 57.82 145.8 47.57 55.16 128.1 56.60 64.65 135.5 37.28 44.34 110.2 21.10 27.32 122.1 32.57 39.38 137.1 36.01 43.00 135.9 38.82 45.96 137.6 49.57 57.26 152.6 55.03 63.05 117.7 20.59 26.79 135.8 43.10 50.46 135.6 47.87 55.47 143.4 35.28 42.23 156.8 57.59 65.69 147.6 45.99 53.49 113.3 44.88 52.33 129.3 49.65 57.34 109.2 25.52 31.97 146.3 68.94 77.62 150.9 92.72 102.63 127.7 36.72 43.75 126.8 31.67 38.34 116.9 28.18 34.77 118.0 29.81 36.48 II 0.0 15.67 21.62 116. 1 10.15 15.81 108.7 13.11 18.92 124.4 23.05 29.37 140.8 29.29 35.94 III. 9 17.17 23.19 120.1 20.58 26.78 114.7 18.37 24.45 97.0 12.14 17.90 75.5 Decrease. Decrease. 113.9 16.46 22.45 108.4 8.73 14.32 150.1 50.40 58.13 128.7 27.05 33.58 138.7 38.98 46.12 114.2 13.86 19.71 130.8 28.99 35.62 131. 1 27.78 34.35 131.4 29.08 35.71 Stitchers, machine, male 99.6 Hats, Fur— Blockers, male 95.5 Colorers, male 101.4 Coners, male 106.2 Curlers, male 90.5 Feeders, female 100.2 Finishers, male 98.0 Flangers, male 92.5 Fur blowers, male 1 00.7 Hardeners 99.9 Pouncers, male 105.6 Slzers, male 91.3 Stiffeners. male 106.7 Trimmers, female 97.5 Weighers, female 98.3 Hosiery and Knit Goods- Boarders, male 99.0 Finishers, female 98.8 Knitters, male 81.8 Knitters, female 98.7 Loopers, female 91.0 Menders, female 92. 1 Pressers. male 1 00.8 Pressers, female 97.9 Ribbers. female 92.0 Iran and Steel Bar — Catchers, male 98.4 Heaters, male 97.6 Heaters' helpers, male 94.9 Hot straighteners, male 91.7 Rollers, male 106.0 Roughers, male 99.5 Iron and Steel, Bessemer Converting — Blowers, male 1 1 . 1 Bottom makers, male 78.2 Ladle liners, male 88.4 Melters, male 87.0 Steel pourers, male 86.6 Vessel men, male 78.3 Iron and Steel, Blast Furnace- Cinder snappers, male 93.4 Hot blast men, male 96.3 Keepers, male 9 1 .2 Keepers' helpers, male 90.9 Top fillers, male 95.1 Leather — Colorers, male 105.4 Fleshers, male 96. 1 Glazers, male 101. 1 Glazers, female 1 08.9 Limers, male 95.5 Rollers, male 99.6 Setters out, male 96.9 Shavers, male 86.5 Stakers, male 96.0 Tanyard hands, male 97.8 TJnhairers, male 99.7 Liquors, Malt- Bottlers, male 99.8 Cellar men, male 101.3 Coopers, male 99.8 Drivers, male 1 00.3 Fermenters, male 101.4 Kettlemen, male 102.6 Malt house men, male 101.8 92 Continued from preceding page. Industry and Occupation. Relative wages per hour. 1897. Washers, male 101.4 Lumber- Cant setters, gang, male 95.4 Carriage men, male* 97.8 Choppers and sawyers. In woods. male 101. Edger men. male 95.5 •Including band setters and circular setters. Filers, male 98.8 Laborers, male 94.8 Sawyers, band, male 99.5 Sawyers, circular, male 95.0 Sawyers, gang, male 1 07.0 Trimmers, male 88.9 Marble and Stone Work- Bed rubbers, male 100.2 Carvers, male 103.7 Laborers, male 102.1 Letterers, male 101.9 Marble cutters, male 101.8 Marble polishers, male 1 02.0 Sawyers, male 104.9 Stonecutters, granite, male 97. 1 Stonecutters, soft stone, male 98.7 Stone polishers, male 1 05.7 Paper and Woed Pulp — Back tenders, male 101.8 Beaters, male 1 00.4 Bleachers, male 100.5 Calendrers, male 101.9 Calendrers, female 95.9 Cutters, male 97.4 Cutters, female 99.4 Enamelere, male 97.2 Finishers, male 97.3 Finishers, male . . 97.3 Finishers, female 98.5 Laborers, male 99.9 Machine tenders, male 99.5 Press tenders, male 101.6 Pulp grinders, male 1 1 . 1 Rag sorters, male 101.9 Rag sorters, female 99.2 Wood cookers, male 96.2 Wood preparers, male 98.8 Plauinc Mill- Carpenters, male 101. 1 Framers, male 97.6 Glaziers, male 1 00.7 Laborers, male 96.0 Machine woodworkers, male 10 1.0 Sawyers, male* 99.7 Pottery — Dippers, male 104.9 Jigger man, male 92.2 Kiln firemen, male 114.2 ♦Including all classes of sawyers. Kiln men, male 96.2 Mold makers, male 96.0 Pressera, male 99.9 Sagger makers, male 96.6 Setters out, male 99.5 Printiai and Binding, Book and Job — Bookbinders, male 1 02.5 Compositors, male 1 00.3 Compositors, female 1 02.7 Increased power to purchase rail- Increase, way freight ser- 1907. per cent. vice, per cent. 138.6 36.69 43.72 126.6 32.70 39.52 135.5 38.55 45.67 125.7 24.46 30.86 120.5 26.18 32.67 127.1 28.64 35.25 131.6 38.82 45.96 133.0 33.67 40.54 126.9 33.58 40.45 129.8 21.31 27.55 110.2 23.96 30.33 128.0 27.74 34.31 126.4 21.89 28.16 117.3 14.89 20.80 132.7 30.23 36.92 126.4 24.17 30.55 141.0 38.24 45.35 126.9 20.97 27.19 126.5 30.28 36.98 120.8 22.39 28.68 1 16. 1 9.84 15.49 155.9 53.14 61.01 144.1 43.53 50.91 112.9 12.34 18.11 134.4 31.89 38.67 121. 1 26.28 32.77 II 0.1 13.04 18.85 118.9 19.62 25.77 114.7 48.87 56.52 114.8 17.99 24.05 144.8 17.99 24.05 134.9 36.95 43.99 125.2 25.33 31.77 145.8 46.53 54.06 153.6 51.18 58.95 150.8 49.16 56.83 95.1 Decrease. Decrease. 118.5 19.46 25.60 170.7 77.44 86.56 165.9 67.91 76.54 131.6 30.17 36.86 119.5 22.44 28.73 129.4 28.50 35.10 121.4 26.46 32.96 125.1 23.86 30.23 122.4 22.77 29.08 122.9 17.16 23.18 114.0 23.64 30.00 109.8 Decrease. 1.09 108.3 12.58 18.37 104.5 8.85 14.44 117.0 17.12 23.14 121.0 25.26 31.70 110.3 10.85 16.55 122.2 19.22 25.35 131.0 30.61 37.32 160.0 55.79 63.80 93 Continued from preceding page. Industry and Occupation. Relative wages per hour. 1807. Electrotypers, male 99.0 Press feeders, male 99.2 Press feeders, female 99. 6 Pressmen, male 1 00.8 Proof readers, male 100. 1 Proof readers, female 88.8 Sewers and stitchers, book, female 99.2 Printing, Newspaper — Compositors, male 99.6 Linotype operators, male 98.7 Pressmen, male 1 1 .8 Stereotypers, male 1 02.3 Shipbuilding — Blacksmiths, male 104.0 Boiler makers, male 1 i .8 Calkers, iron, male 1 03. 1 Calkers, wood, male 1 00.3 Carpenters, male 1 00.5 Drillers, male 107.1 Fitters, male 105.5 Joiners, male 106.8 Laborers, male 1 00.4 Machinists, male 103.4 Molders, iron, male 103.3 Painters, male 105.6 Pattern makers, male 1 02.7 Biggers, male 108.3 Riveters, male 1 18. 1 Silk Goods— Beamers, male 93.0 Doublers, female 95.5 Dyers, male 106.6 Loom fixers, male 104.2 Pickers, female 93.2 Quillers, female 99.2 Spinners, male 1 04.4 Twisters-in, male 102.3 Warpers, male 110.5 Warpers, female 1 05.7 Weavers, male 97.9 Weavers, female 96. 1 Weavers, ribbon, male 88.7 Weavers, ribbon, female 97.7 Winders, female 101.4 Slaughtering and meat packing- Back skinners, cattle, male 96. 1 Dry salters, male 93.9 Gutters, cattle, male 97.6 Gutters, hog, male 100. 1 Headers, cattle, male 101.6 Headers, hcg, male 99.4 Laborers, male 94.9 Picklers, male 96.8 Rump skinners, cattle, male 95.0 Scrapers, hog, male 1 04.9 Side skinners, cattle, male .... 95. 1 Splitters, cattle, male 95.0 Splitters, hog, male 100.9 Stickers, cattle, male 97.4 Stickers, hog, male 101. 1 Streets and Sewers, Contract Work — Laborers, male 103.7 Streets and Sewers, Municipal Work — Laborers, male 98.7 Tobacco, Cigars — akers, hand, male 118.5 Increased power to purchase rail- Increase, • way freight ser- 1907. per cent. vice, per cent. 116.1 17.27 23.30 142.2 43.35 50.72 133.7 34.24 41.14 127.2 26.19 32.68 134.6 34.47 41.38 132.2 48.87 56.52 127.1 28.12 34.71 124.1 24.60 31.00 II 1.3 12.77 18.57 125.7 23.48 29.83 119.9 17.20 23.22 112.5 8.17 13.73 108.9 6.97 12.47 156.4 51.70 59.50 122.8 22.43 28.72 120.3 19.70 25.85 138.3 29.13 35.77 113.7 7.77 13.31 118.0 10.49 16.17 123.2 22.71 29.02 117.5 13.64 19.48 131.3 27.11 33.64 112.5 6.53 12.01 127.0 23.66 30.02 107.4 Decrease. 4.27 120.3 1.86 7.10 103 4 11.18 16.89 146.1 52.98 60.84 100.9 Decrease. Decrease. 110. 1 5.66 11.09 133.2 42.92 50.27 119.0 19.96 26.13 127.2 21.84 28.10 110.7 8.21 13.77 138.5 25.34 31.73 106.9 1.14 6.34 114.7 17.16 23.18 107.5 11.86 17.61 .98.6 11.16 16.87 98.3 .61 5.78 125.5 23.77 30.13 132.4 37.77 44.85 112.8 20.13 26.30 124.2 27.25 33.79 81.5 Decrease. Decrease. 130.6 28.54 35.15 114.9 15.59 21.53 108.9 14.75 20.65 112.9 16.63 22.62 132.9 39.89 47.08 96.9 Decrease. Decrease. 120.2 26.39 32.89 122.3 28.74 35.36 II 1.3 10.31 15.98 118.5 21.66 27.91 119.3 18.00 24.07 145.7 40.50 47.72 121.6 23.20 29.53 129.8 14.36 20.24 94 Continued from preceding page. Industry and Occupation. Relative wages per hour. 1807. Bunch makers, hand, female 107.8 Bunch makers, machine, female . . 95.8 Cigar makers, male 96.8 Cigar rollers, hand, male 98.9 Cigar rollers, hand, female 98.7 Cigar rollers, machine, female . . . 94.8 Packers, male 100.9 Packers, female 96.4 Stemmers, male 109.4 Stemmers, female 1 1 2.9 Woolen and Worsted Goods — Burlers. female 1 00.4 Carders, male 101.7 Card strippers, male 100.2 Combers, male 95.4 Combers, female 102.9 Dyers, male 99.4 Loom fixers, male 102.0 Spinners, frame, female 1 02.5 Spinners, mule, male 1 04.2 Weavers, male 98.0 Weavers, female 100.7 Increased power to purchase rail- Increase, way freight ser- 1907. per cent. vice, per cent 157.1 45.73 53.22 130.3 36.01 43.00 118.7 22.62 28.92 128.8 30.23 36.92 126.8 28.47 35.07 158.4 67.09 75.68 118.7 17.64 23.69 104.8 8.71 14.30 149.1 36.29 43.30 133.0 17.80 , 23.85 136.7 36.16 43.16 128.7 26.55 33.05 125.5 25.25 31.63 96.9 1.57 6.79 106.5 3.50 8.82 122.3 23.04 29.36 128.9 26.37 32.87 139.8 36.39 43.40 143.3 37.52 44.59 142.1 45.00 52.45 137.1 36.15 43.15 95 APPENDIX D. Statements showing average farm prices by States as reported by the Bureau of Statistics of the United States Department of Agriculture for 1897 and 1907, with per- centage increases and percentages of increased command over railway freight services at the average rates of 1897 and 1907 reported by the Interstate Commerce Commis- sion. CORN. (States producing over $10,000,000 worth In 1907.) Price, In cents, per bushel. State. Value of crop of 1907. Increased power to purchase — railway freight Increase, serrice, 1907. per cent. per cent. New York $11,502,000 Pennsylvania 29,390,000 Maryland 11,986,000 Virginia 29,456,000 West Virgania 15,322,000 North Carolina 33,358,000 South Carolina 23,249,000 Georgia 43,729,000 Ohio 61,173,000 Indiana 75,978,000 Illinois 150,813,000 Michigan 31,455,000 Wisconsin 25,678,000 Minnesota 21,802,000 Iowa 116,195,000 Missouri 113,282,000 South Dakota 21.700.000 Nebraska 73.524,000 Kansas 63.262,000 Kentucky 49.322.000 Tennessee 44,667,000 Alabama 34,422.000 Mississippi 31,875,000 Louisiana 19,600,000 Texas 93,353,000 Oklahoma 49,837,000 Arkansas 29,532,000 All other States 26.439,000 Total $1,336,901,000 77.50 88.24 80.00 68.42 80.00 72.09 59.18 58.33 108.00 1 14,29 109.52 103.70 120.00 108.33 152.94 95.83 119.05 (41.18 100.00 51.43 58.33 63.04 66.67 55.56 46.34 120.00 70.00 86.62 97.92 89.25 77.08 89.25 80.94 67.36 66.47 118.69 125.30 120.29 114.17 131.31 119.04 165.94 105.90 130.31 153.58 110.28 59.21 66.47 71.42 75.24 63.56 53.86 131.31 78.74 51.6 •In 1899. no data for 1897. 96 WHEAT. (State* producing over 15.000,000 worth In 1907.) Price, In cents, per bushel. State. Value of crop of 1907. Increased power to purchase railway freight 1897. 1907. Increase, per cent. per cent. New York $7,125,000 90 Pennsylvania 28,891,000 91 Maryland 14,172,000 93 Virginia 8,024,000 92 North Carolina 5.692,000 94 Ohio 28>223,000 88 Indiana 29,931,000 89 Illinois 34,890,000 89 Michigan 11,585,000 87 Minnesota 62,192,000 77 Iowa 6,276,000 75 Missouri 24,538,000 85 North Dakota 47,963,000 74 South Dakota 28,907,000 69 Nebraska 36,270,000 69 Kansas 53,799,000 74 Kentucky 8,103,000 89 Tennessee 7,030,000 95 Oklahoma 7,164,000 76 Colorado 6,628,000 70 Idaho 5,788,000 70 Washington 26,284,000 68 Oregon 11,907,000 72 California 20,110,000 83 All other States 32,945,000 Total $554,437,000 8oX 10.00 5.49 3.23 6.52 13.83 4.55 Decrease. Decrease. 4.60 19.48 9.33 Decrease. 17.57 28.99 14.49 10.81 3.37 95 No change. 83 9.21 78 11.43 67 Decrease. 75 10.29 78 8.33 98 18.67 15.65 10.91 8.54 12.00 19.68 9.92 3.96 2.77 9.98 25.62 14.95 3.90 23.61 35.62 20.37 16.51 8.68 5.14 14.82 17.16 .63 15.96 13.90 24.14 87.4 8.17 13.73 97 OATS. (States producing over $1,000,000 worth In 1907.) Sfate. Value of crop of 1907. Maine $2,560,000 Vermont 1,671,000 New York 21,139,000 Pennsylfania 1 6,032,000 Virginia 1,431,000 North Carolina 1,797,000 South Carolina 2,808,000 Georgia 3.607,000 Ohio 16,416,000 Indiana 15,407,000 Illinois 41,687,000 Michigan 14,656,000 Wisconsin 24,299,000 Minnesota 25,414,000 Iowa 41,382,000 Missouri 5,844,000 North Dakota 12.936,000 South Dakota 12,764,000 Nebraska 19.051,000 Kansas 6-879,000 Kentucky 1 ,656,000 Tennessee 1 ,529.000 Alabama 2,579,000 Mississippi 1,047.000 Texas 5,700,000 Oklahoma 3,009.000 Arkansas 1 ,843,000 Montana 5,410,000 Wyoming 1 , 177,000 Colorado 2.945,000 Idaho 2,397,000 Washington 4,745,000 Oregon 4,394.000 California 3.235,000 All other States 5.122,000 Total $334,568,000 1897. Increased power to purchase railway freight Increase, service, 1907. per cent. per cent. Price, in cents, per bushel. 87.50 96.88 III. II 100.00 72.41 62.16 60.00 71.43 125.00 121.05 127.78 108.70 147.37 115.79 137.50 115.79 53.85 116.67 146.67 133.33 81.48 78.57 55.81 47.73 122.22 63.64 39.39 51.43 56.25 31.25 28.57 28.57 44.90 97.14 107.00 121.96 110.28 81.27 70.50 68.22 80.24 136.57 132.41 139.49 119.43 160.08 126.88 149.71 126.88 61.76 127.81 159.35 145.32 90.81 87.75 63.82 55.32 133.64 72.05 46.55 .59.21 64.28 38.00 35.18 35.18 52.35 108.96 119.70 98 BARLEY. (States producing over $1,000,000 worth In 1907.) State. Price, in cents. Increased power per hustle I. to purchase railway freight service. Value of Increase, crop of 1907. 1897. 1907. per cent. per cent. $1,580,000 42 80 90.48 100.27 1,002.000 40 67 67.50 76.11 13,817,000 32 75 134.38 146.43 17,864,000 24 67 179.17 193.52 8,507,000 24 60 150.00 162.85 9,075,000 27 58 114.81 125.85 12,276,000 22 61 177.27 191.52 1,206,000 24 50 108.33 119.04 2,372,000 25 54 116.00 127.10 1,265,000 42 58 38.10 45.20 3,876.000 43 58 34.88 41.81 1,460,000 45 57 26.67 33.18 23,444,000 54 78 44.44 51.86 New York Michigan Wisconsin Minnesota Iowa North Dakota . . . South Dakota Nebraska Kansas Idaho Washington , Oregon California All other States 4,546,000 Total $102,290,000 37.7 66.6 76.66 85.74 RYE. (States producing more than $1,000,000 worth in 1907.) State. Value of crop of 1907. New York $1,716,000 New Jersey 1,043,000 Pennsylvania 4,337,000 Michigan 3,925,000 Wisconsin 3,431,000 Minnesota 1,079,000 California 1,063,000 All other States 6,474,000 Total $23,068,000 Increased power per bushel. to purchase railway freight service. Increase, 1897. 1907. per cent. per cent. 48 81 68.75 77.42 50 76 52.00 59.81 43 75 74.42 83.39 42 72 71.43 80.24 41 72 75.61 84.64 3/ 66 78.38 87.55 65 85 30.7/ 37.49 44.7 73. 63.53 71.94 BUCKWHEAT. (States producing more than $500,000 worth in 1907.) Price, in cents, per bushel. State. Value of crop of 1907. New York $3,981,000 Pennsylvania 3, 1 92,000 Michigan 554,000 All other States 2,248,000 Total $9,975,000 1897. 1907. Increased power to purchase — railway freight Increase, service, per cent. per cent. 70 75.00 64.29 71.05 84.00 72.73 79.84 65.80 74.32 90 HAT. (Statei producing more than $1,000,000 worth in 1907.) Price, per ton Increased power to purchase railway freight service. State. Value of Increase, crop of 1907. 1897. 1907. per cent. per cent. Maine ..$26,250,000 $9.75 $12.50 28.21 34.80 New Hampshire . .. 13,608,000 11.50 15.75 36.91 43.95 Vermont .. 18,054,000 9.25 12.75 37.84 44.92 Massachusetts . . .. 14,440,000 13,90 19.00 36-69 43.72 Rhode Island ... .. 1,539,000 14.50 19.00 31.03 37.76 Connecticut .... .. 10,829,000 13.00 17.00 30.77 37.49 New York .. 91,388,000 8.25 15.50 87.88 97.54 New Jersey .... .. 10,778,000 10.75 17.00 58.14 66.27 Pennsylvania .. 71,946,000 9.15 15.75 72.13 80.98 Delaware .. 1,907,000 10.00 17.50 75.00 34.00 Maryland . . 6,336,000 10.50 16.00 52.38 60.21 Virginia . . 9,529,000 10.25 15.75 53.66 61.56 West Virginia ... .. 13,485,000 8.25 15.50 87.88 97.54 North Carolina . .. 3,135,000 9.75 16.50 69.23 77.93 South Caorlina .. 1,518,000 11.50 16.50 43.48 50.85 Georgia . . 2,988,000 13.00 18.00 38.46 45.58 Ohio .. 47,588,000 6.25 11.75 88.00 97.66 Indiana .. 37,716,000 5.90 12.00 103.39 113.84 Illinois .. 41,030,000 6.15 11.00 78.86 88.05 Michigan .. 40,575,000 7.75 12.50 61.29 69.58 Wisconsin .. 35,708,000 6.25 11.50 84.00 93.46 Minnesota .. 11,475,000 4.50 7.50 66.67 75.24 Iowa .. 39,200,000 4.25 8.00 88.23 97.91 Missouri .. 37,555,000 6.15 9.25 50.41 58.14 North Dakota ... .. 1,547.000 3.25 6.50 100.00 110.28 South Dakota ... . . 3,850,000 2.95 5.50 86.44 96.02 Nebraska .. 14,062,000 3.00 6.25 108.33 119.04 Kansas .. 14,950,000 3.40 7.25 1 13.24 124.20 Kentucky . . 8,073,000 10.00 13.50 35.00 41.94 Tennessee . . 7,620,000 10.75 15.00 39.53 46.70 Alabama .. 3,019,000 10.25 15.25 48.78 56.43 Mississippi .. 1,664,000 9.50 13.00 36.84 43.87 Texas .. 5,310,000 7.25 10.75 84.28 55.90 Oklahoma . . 3,055,000 6.50 Arkansas . . 2,937.000 8.65 11.75 35.84 42.82 Montana . . 8,075,000 7.75 9.50 22.58 28.88 Wyoming . . 3,938,000 6.00 7.38 23.00 29.32 Colorado .. 17,366,000 5.50 9.50 72.73 81.61 New Mexico .... . . 3,854,000 7.00 11.75 67.86 76.49 Arizona . . 3,654,000 5.00 14.00 180.00 194.39 Nevada .. 3,180,000 5.00 10.00 100.00 110.28 Utah . . 5,222,000 4.75 7.00 47.37 54.94 Idaho . . 8,585,000 5.25 8.50 61.90 76.22 Washington .. 11,535,000 9.00 15.00 66.67 75.24 Oregon . . 8,323,000 7.75 10.25 32.26 39.06 California .. 13,938,000 9.00 12.50 38.89 46.03 All other States .. 1,173,000 .... Total .$773,507,000 6.62 11.68 76.44 85.51 IOO POTATOES. (State* producing more than $1,000,000 worth In 1907.) State. Value of crop of 1907. Price, in cents. Increased power per bushel. to Purchase ■ railway freight Increase, service, 1897. 1907. per cent. per cent. Maine 9,582,000 New Hampshire ... 1,528,000 Vermont 1,654.000 Massachusetts 3,024,000 Connecticut 2,464,000 New York 23,796,000 New Jersey 6,216,000 Pennsylvania 15,389,000 Maryland 1,710,000 Virginia 3,046.000 West Virginia 2,258,000 North Carolina ... 1,579,000 Ohio 8,114,000 Indiana 4,750,000 Illinois 9,647,000 Michigan 12,109,000 Wisconsin 10.237,000 Minnesota 6,004.000 Iowa 6,592,000 Missouri 5,136,000 North Dakota 1 ,490,000 South Dakota 1,638,000 Nebraska 4,497,000 Kansas 4,976,000 Kentucky 2,220,000 Tennessee 1,421,000 Alabama 1,425,000 Texas 2,529.000 Oklahoma 1,960,000 Arkansas 1,592.000 Montana 1,350,000 Colorado 4,653,000 Idaho 1,056.000 Washington 3,000,000 Oregon 2,940,000 California 6,264.000 All other States ... 6,338,000 Total $184,184,000 89 90 70 90 90 67 78 66 68 70 65 64 62 62 62 43 38 31 47 63 33 32 46 55 67 73 56 67 53 84 77 57 74 67 60 68 80 78 68 65 72 45 45 41 55 72 62 50 70 88 75 76 100 105 100 91 50 66 52 50 56 90 Decrease. Decrease. 1.52 Decrease. Decrease. 23.08 21.88 9.68 4.84 16.13 4.65 18.42 32.26 17.02 14.29 87.88 56.25 52.17 60.00 11.94 4.11 6.38 10.53 8.33 25.00 17.86 62.50 78.57 40.00 83.67 6.74 2.13 29.41 28.14 15.32 10.23 22.10 10.03 24.51 39.06 23.03 20.16 97.54 64.28 59.99 68.22 17.69 9.46 11.85 16.21 13.90 31.42 23.92 70.85 87.75 47.20 93.11 54.7 18.79 IOI APPENDIX E. Statements showing the values of farm animals by States as reported by the Bureau of Statistics of the United States Department of Agriculture for January i, 1897 anc * on the same date in 1908, with percentage in- creases and percentages of increased power to purchase railway freight service at the average rates for 1897 anc * 1907 reported by the Interstate Commerce Commission. It should be noted that these data relate solely to animals on farms and to farm values. HORSES. (States having more than $10,000,000 worth on January 1, 1908.) Increased power to Value on Average Value purchase railway State. January 1, January 1, January 1, Increase. freight service. 1908. 1897. 1908. per cent. per cent. Maine $12,296,000 $46.58 $106.00 127.57 139.27 New York .... 78.648.000 49.67 113.00 127.50 139.19 New Jersey . . . 11,526,000 58.98 113.00 91.59 101.44 Pennsylvania . . 69,198,000 44.27 114.00 157.51 170.75 Maryland 14,852,000 38.25 94.00 145.75 158.38 Virginia 30,167,000 36.42 97.00 166.34 180.03 West Virginia . 19,278,000 33.28 102.00 206.49 222.24 North Carolina. 20,330,000 44.76 107.00 139.05 151.34 Georgia 15,429,000 48.34 111.00 129.62 141.42 Ohio 105,339,000 36.67 111.00 202.70 218.26 Indiana 85,470,000 31.81 105.00 230.08 247.05 Illinois 170,237,000 30.91 107.00 246.17 263.96 Michigan 73,920,000 43.14 105.00 143.39 155.90 Wisconsin 67,515,000 40.95 105.00 156.41 169.59 Minnesota 70,854,000 35.95 98.00 172.60 186.61 Iowa 140,481,000 28.94 99.00 242.09 259.67 Missouri 84,216,000 24.79 88.00 254.98 273.23 North Dakota . 59,752,000 36.43 97.00 166.26 179.95 South Dakota .. 48,160,000 26.50 86.00 224.53 241.21 Nebraska 88,305,000 24.68 87.00 252.51 270.63 Kansas 96,396,000 23.54 87.00 269.58 288.58 Kentucky 37,145,000 32.57 95.00 191.68 206.67 Tennessee 30,555,000 36.41 97.00 166.41 180.10 Alabama 14,240,000 38.82 89.00 129.26 141.04 Mississippi .... 20,020,000 35.19 77.00 118.81 130.06 Louisiana 14.784,000 27.26 66.00 142.11 154.55 Texas 83,070,000 17.73 65.00 266.61 285.45 Oklahoma 54,312,000 13.41 73.00 444.37 472.35 Arkansas 18,972,000 26.45 68.00 157.09 170.30 Montana 21,316,000 24.38 73.00 199.43 214.82 Colorado 18,602,000 20.06 71.00 253.94 272. 13 Idaho 11,250,000 17.12 75.00 338.08 360.60 Washington 30,478,000 20.47 98.00 378.75 403.36 Oregon 27,360,000 18.18 96.00 428.05 455.19 California 37,224,000 27.40 94.00 243.07 260.70 All other States 85,833,000 Total $1 ,867,530,000 $31.51 $93.41 196.45 211.69 102 MULES. (States having more than $5,000,000 worth on January 1, 1908.) Value on State. Jtnuary 1, 1908. Pennsylvania .... $5,084,000 Virginia 6.324,000 North Carolina .. 22,302,000 South Carolina .. 19,734,000 Georgia 32,480,000 Indiana 9,768,000 Illinois 16,159,000 Missouri 32,421,000 Nebraska 6,936,000 Kansas 13,860,000 Kentucky 21,306,000 Tennessee 30,672,000 Alabama 26,442,000 Mississippi 29,295,000 Louisiana 18,312,000 Texas 57.967,000 Oklahoma 16,128,000 Arkansas 19,855,000 California 9,266,000 All other States . 22,628,000 Total $416,939,000 Increased power to Average Value. purchase railway January 1, January 1. Increase, freight service. 1897. 1908. percent. percent. $58.81 $124.00 110.85 121.69 48.58 124.00 155.25 168.37 49.98 126.00 152.10 165.06 61.68 143.00 131.84 143.76 62.93 140.00 122.47 133.90 36.08 111.00 207.65 223.46 35.69 113.00 216.62 232.89 29.91 101.00 237.68 255.04 32.33 102.00 215.50 231.72 31.04 99.00 218.94 235.33 33.97 106.00 212.04 228.08 39.17 108.00 175.72 189.89 49.01 113.00 130.57 142.42 48.81 105.00 115.12 126.18 52.83 109.00 106-32 116.92 29.83 91.00 205.06 220.74 21.69 96.00 342.60 365.35 34.26 95.00 177.29 191.54 36-89 1 13.00 206.32 222.06 $41.66 $107.76 158.67 171.96 lOI CATTLE. — Including Milch Cows. (States haviDg more than $10,000,000 worth on January 1, 1908.) Increased power to Value on Average Value. purchase railway State. January 1, January 1, January 1. Increase, freight sen-ice. 1908. 1897. 1908. per cent. per cent. Vermont $11,824,000 $22.72 $23.09 1.63 6.85 New York 75,351,000 23.24 27.95 20.27 26.45 Pennsylvania . . 58,842,000 24.30 27.79 14.36 20.24 Virginia 18,723,000 16.44 22.05 34.12 41.01 West Virginia . 20,229,060 18.50 25.41 37.35 44.41 North Carolina.. 12,456,000 11.38 16.74 47.10 54.66 Georgia 15,180,000 11.65 15.36 31.85 38.63 Ohio 55,458.000 23.91 28.04 17.27 23.30 Indiana 44,796,000 22.29 25.51 14.45 20.33 Illinois 89,048,000 25.65 26.60 3.70 9.03 Michigan 44,914,000 23.23 24.25 4.39 9.76 Wisconsin 57.237,000 20.74 22.63 9.11 14.72 Minnesota 44,468.000 19.64 19.18 Decrease. 2.68 Iowa 128,929,000 26.10 23.72 Decrease. Decrease. Missouri 74,482,000 21.41 22.47 4.95 10.34 North Dakota .. 16,432,000 19.36 18.97 Decrease. 3.83 South Dakota .. 42,663,000 21.26 20.87 Decrease. 3.22 Nebraska 87,526,000 21.28 21.12 Decrease. 4.35 Kansas 92.478,000 22.44 21.51 Decrease. .79 Kentucky 23,797,000 18.50 21.40 15.68 21.63 Tennessee 14,753,000 12.83 15.93 24.16 30.54 Alabama 10,255,000 8.50 12.48 46.82 54.37 Mississippi .... 11,312,000 9.93 12.31 23.97 30.34 Texas 121,772,000 11.81 13.69 15.92 21.88 Oklahoma 37,812,000 18.20 17.57 Decrease. ..50 Arkansas 12,664,000 9.77 11.74 20.16 26.34 Montana 20,064,000 17.89 21.16 18.28 24.36 Wyoming 20,986,000 17.26 24.37 41.19 48.44 Colorado 34.408,000 20.02 21.53 7.54 13.07 New Mexico ... 16,913,000 12.02 17.54 45.92 53.42 Arizona 11,240,000 12.33 17.96 45.66 53.15 Washington . . . 13,810,000 17.24 24.10 39.79 46.98 Oregon 18.416,000 14.67 29.10 37.01 44.05 California 36,705,000 19.39 23.45 20.94 27.16 All other States. 100,052,000 Total $1,495,995,000 $18.88 $20.99 16.89 i«4 SHEEP. (States baring more than $1,000,000 worth on January 1. 1908.) Increased power to Value on Average Value. purchase railway January 1, January 1. January 1, Increase, freight service. State. 1908. 1897. 1908. per cent. per cent. Maine $1,092,000 New York 5,440,000 Pennsylvania .... 5,09 1 ,000 Virginia 2,048.000 West Virginia .. 2,970,000 Ohio 13,933,000 Indiana 6,148,000 Illinois 3,973,000 Michigan 9.500.000 Wisconsin 4.333,000 Minnesota 1,740,000 Iowa 3.568,000 Missouri 4,434,000 North Dakota ... 2,232,000 South Dakota ... 2,980,000 Nebraska 1,621,000 Kentucky 4,520,000 Tennessee 1 , 180,000 Texas 4,929,000 Montana 21,544,000 Wyoming 24,423,000 Colorado 5,644,000 New Mexico 16,515,000 Arizona 3,732,000 Utah 11,512,000 Nevada 6,011,000 Idaho 12.691,000 Washington 3,074,000 Oregon 9,526,000 California 8,404,000 $2.05 $4.09 99.51 109.76 2.68 4.81 79.48 88.71 2.77 4.62 66.79 75.36 2.14 4.00 86.92 96.53 2.18 4.40 101.83 112.20 2.48 4.48 80.65 89.94 2.71 5.06 86.72 96.32 2.86 5.01 75.17 84.17 2.64 4.46 68.94 77.62 2.37 4.15 75.11 84.11 2.19 3.79 73.06 81.96 3.02 4.97 64.57 73.03 1.90 4.36 129.47 141.26 1.95 3.56 82.56 91.94 2.17 3.63 67.28 75.88 2.47 3.76 52.23 60.05 1.90 4.22 122.11 133.53 1.44 3.39 135.42 147.52 1.20 2.74 128.33 140.07 1.61 3.90 142.24 154.69 1.80 4.15 130.56 142.41 1.76 3.33 89.20 98.92 1.06 3.45 225.47 242.20 1.57 3.62 130.57 142.42 1.52 3.88 155.26 168.38 1.69 3.79 124.26 135.79 1.71 3.65 107.60 118.27 1.86 3.73 100.54 110.85 1.33 3.58 169.17 183.01 1.86 3.47 86.56 96.15 All other States.. 6,928,000 Total $211,736,000 1.82 3.88 113.19 124.15 ios SWINE. (States having over $1,000,000 worth on January 1, 1908.) State. Value on January 1, 1908. Average Value. January 1, January 1, 1897. 1908. Increased power to purchase railway Increase, freight service, per cent. per cent. New York $5,954,000 $6.61 $8.90 34.64 41.56 New Jersey 1,550,000 8.02 10.00 24.69 31.10 Pennsylvania .... 7,722,000 6.67 7.80 16.94 22.95 Maryland 1,861,000 6.74 6.35 Decrease. Decrease. Virginia 4.588,000 3.38 5.75 70.12 78.86 West Virginia .. 2,179,000 4.25 5.75 35.29 42.24 North Carolina .. 7,599,000 3.11 5.60 80.06 89.32 South Carolina .. 3.865,000 3.49 5.70 63.32 71.71 Georgia 8,794,000 3.17 5.50 73.50 82.42 Florida 1,496,000 2.02 3.75 85.64 95.18 Ohio 16,634,000 4.93 6-50 31.85 38.63 Indiana 19,586,000 5.05 6.20 22.77 29.08 Illinois 30,835,000 5.18 6.60 27.41 33.96 Michigan 9.161,000 5.92 6.60 11.49 17.22 Wisconsin 13,370.000 5.38 7.00 30.11 36.80 Minnesota 8,996,000 4.91 7.10 44.60 52.03 Iowa 54,684,000 5.67 6.50 14.64 20.53 Missouri 18,504,000 3.99 5.15 29.07 35.70 North Dakota ... 1,748,000 4.50 7.50 66.67 75.24 South Dakota ... 6,321,000 4.39 7.00 59.45 67.65 Nebraska 26,519,000 4.77 6.25 31.03 37.76 Kansas 15,712,000 4.61 5.90 27.98 34.56 Kentucky 5,860,000 3.34 4.60 37.72 44.80 Tennessee 6.984,000 3.33 4.65 39.64 46.82 Alabama 5,755,000 2.53 4.60 81.82 91.17 Mississippi 5,922,000 2.40 4.50 87.50 97.14 Louisiana 3,010,000 2.83 4.50 59.01 67.18 Texas 16,522,000 2.48 5.25 111.69 122.57 Oklahoma 8.464,000 4.08 5.33 30.64 37.35 Arkansas 4,283,000 2.32 3.80 63.79 72.21 Wyoming 1,200,000 4.52 8.00 76.99 86.09 Washington 1,410,000 3.32 7.75 133.43 145.43 Oregon 1,744,000 2.37 6.25 163.71 177.26 California 3,967,000 4.13 7.20 74.33 83.29 All other States . 6,231,000 .... .... Total $339,030,000 $4.10 $6.05 47.56 55.14 106 APPENDIX F. Statements showing comparisons of classifications for 1888 and 1908 and 1888 and 1898 compiled in the same manner as those for 1898 and 1908 which appear in the text at pages 44 to 46. 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