140
LOMBARD STREET
of 1868 corn was dear, as the following figures show:—
Gazette Average Price of Wheat
| s. | d. | s. | d. | ||||
| December, | 1866 | 60 | 3 | October, | 1867 | 66 | 6 |
| January, | 1867 | 61 | 4 | November | 1867„ | 69 | 5 |
| February | 1867„ | 60 | 10 | December | 1867„ | 67 | 4 |
| March | 1867„ | 59 | 9 | January, | 1868 | 70 | 3 |
| April | 1867„ | 61 | 6 | February | 1867„ | 73 | 0 |
| May | 1867„ | 64 | 8 | March | 1867„ | 73 | 0 |
| June | 1867„ | 65 | 4 | April | 1867„ | 73 | 3 |
| July | 1867„ | 65 | 0 | May | 1867„ | 73 | 9 |
| August | 1867„ | 67 | 8 | June | 1867„ | 67 | 11 |
| September | 1867„ | 62 | 8 | July | 1867„ | 65 | 5 |
From that time it fell, and it was very cheap during the whole of 1869 and 1870. The effect of this cheapness is great in every department of industry. The working classes, having cheaper food, need to spend so much less on that food, and have more to spend on other things. In consequence, there is a gentle augmentation of demand through almost all departments of trade. And this almost always causes a great augmentation in what may be called the instrumental trades—that is, in the trades which deal in machines and instruments used in many branches of commerce, and in the materials for such. Take, for instance, the iron trade—
| Tons | Tons | |||
| In the year | 1869 | we exported | 2,568,000 | |
| In the year„ | 1870 | we exported„ | 2,716,000 | |
| 5,284,000 | ||||
| In the year„ | 1867 | we exported„ | 1,882,000 | |
| In the year„ | 1868 | we exported„ | 1,944,000 | |
| 3,826,000 | ||||
| Increase | 1,458,000 | |||
