5. The smaller quantity of
raw material employed, and perhaps, in some instances, an
inferior, quality of workmanship. 6. The improved means by which
the same effect was produced by diminished labour.
205. In order to afford the means of estimating the influence
of these several causes, the following table is subjoined:
1812 1818 1824 1828 1830 1832
Average Price of L s d. L s. d. L s d L s. d L s d L s. d
Gold. per oz 4 15 6 4 0 3 17 61/2 3 17 7 3 17 91/2 3 17 10 1/2
Value of currency. per cent 79 5 3 97 6 10 100 100 100 100
Price of 3 per cent consols 591/4 781/4 935/8 86 893/4 821/2
Wheat per quarter 6 5 0 4 1 0 3 2 l 3 1 1 10 3 14 6 2 19 3
English pig iron at Birmingham 7 l0 0 6 7 6 6 l0 0 5 10 0 4 l0 0
English bar iron at Birmingham 10 10 0 9 10 0 7 15 0 6 0 0 5 0 0
Swedish bar iron in London, excluding duty of from L4 to L6 10s
per ton 16 10 0 17 10 0 14 0 0 14 10 0 13 15 0 13 2 0
As this table, if unaccompanied by any explanation, might
possibly lead to erroneous conclusions, I subjoin the following
observations, for which I am indebted to the kindness of Mr
Tooke, who may yet, I hope, be induced to continue his valuable
work on High and Low Prices, through the important period which
has elapsed since its publication.
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