Chapter I. Influence Of The Progress Of Industry And Population On Values And Prices.

the direction of improved and cheapened processes of manufacturing, has vastly lowered the cost of a great number of articles of common consumption. The process has been already seen in the diminished charge for railway transportation (see Chart No. V). Moreover, the years of a depression are exactly those in which there is always a forced economy, and generally form a period in which cheapening goes on at its best. Hence, if prices have had a tendency