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    "source_key": "britannica_1926",
    "source_title": "Encyclopaedia Britannica (1926)",
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    "chunk_id": "1926:prices:4cb414a99d0c",
    "title": "PRICES",
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    "verified_text": "the following article deals with the gen- eral movement of wholesale prices, (a) since 1903 in the united kingdom and (5) since 1913 in certain other countries; (c) the wholesale prices of selected commodities; and (d) the gencral movement of retail prices of food in the united kingdom. these general movements are measured by index numbers (see index numbers), which are averages, computed in various ways, of the changes of prices of selected commodities. the relative importance given to the various classes of commodities in the principle index numbers for the united kingdom are indicated in the following table:— prices ah oe statist or | economist ee sori aa 7“#7 | sauerbeck base = le : 32 —_ base 1913 ah hoe cereals ti3 17 144 159 meat ; : 2 156 182 gi other food, drink | and tobacco . 17 88 56 i14 353 422 382 364 coal and metals 293 156 203 182 textiles. ; 207 178 i75 227 miscellaneous 147 244 240 207 647 578 618 636 1,000 1,000 1,000 1,000 tin the old series, discarded in 1920, the food group accounted for 652 and the materials for 348 in goo. 2 these are the effective weights reached by sauerbeck’s numbers when comparison is made with 1913. during the very rapid and diverse price movements from 1914 to 1922 the results obtained by the three methods diverged (see table ii.): that of the board of trade is on the broadest and most scientific basis. (1) the united ninedom.—table i. exhibits the general move- ment in the 12 years before the world war. the year 1903 is taken as the starting point, since, after the considerable fall in prices ending in 1896 and the subsequent temporary inflation of tg00-1, it mav be regarded as a normal year. wholesale prices rose steadily from 1902 to 1913, except for the short period of depression in 1908-9, but tended downwards in the first half of ror. table 1. index numbers of movement of wholesale prices in the united kingdom. level in 1913 taken as roo board of trade old series year sauerbeck economist 1903. : 83 82 79 190, . ; : by 83 si 1905. : 84 85 si 1906. : : 87 gi 88 1907. ; ; 9! 94 03 19038; ; ; : 8) s6 33 igog... ; : go 87 84 i9gio0., : ; qo} 92 90 igir . . . dt 94 95 igil2.. : : 99 100 108 1913 100 100 i9i4 (jan. to june) sy immediately after the declaration of war in 1914 prices began to rise, and with certain interruptions continued to mount up till the spring of 1920, when the index numbers reached their maximum (statist 323, end of april; fcenomist 326, end of march; board of trade 357, average of july). till oct. 1917 the increases showed a remarkable regularity, averaging 2% monthly, equivalent cumulatively to 27°, per annum; on this scale the index in the successive octobers would reach 106 in ioi 4, 135 in 1915, 171 in 1916, 217 intot7 and 258 in 1918, num- bers which (except the last) are in close agreement with those shown in table ii. there was, however, a definite seasonal movement super-imposed on this regularity; in the first three or four months of each year prices moved up with special rapidity, while in the summer the increase was slackened and in some cases was replaced by a fall. the check in the increase in the summer of ror7, following a specially rapid rise, is attributable to the control of prices which by that date was general. from aug. i917 prices continued to rise in spite of control till sept. 1968, but the rise in these 13 months aggregated to only 13% (239 against 213). after the armistice prices fell slowly for five months, during the season in which in previous vears the increase had been specially rapid, but expectations of a permanent fall were not realised; ia the vear beginning april roto the index rose from prices 224 to 323, or 44%. the reaction began in the early summer of 1920, and the fall was very rapid in the following winter and continued till the end of 1921, when prices were 69°% above the pre-war level, and only half those at the maximum of april 1920 by the statist account. during the subsequent four years the movement was relatively slight, but there was a definite fall and rise in the middle of 1923, and a further rise in the latter part of 1924. the gold basis was restored in may 1925, and both in anticipation of this and after it there was a fall amounting to 10% in the whole vear, till prices were 58° above 1913; equi- librium with the united states price index was reached in the latter part of the year. table if. average of jan.—july 19r~=199 monthly index numbers (statist) —t uw} so im] “| sc n ed[ +b] ww ind of 2) 3) 3)3)3)2)8)3/8/8)8/8 = = — va — he = — = — = me | i bi ieee ce ee i ee ee jan... : | t17|150\\193'225)233'298)239/160)158|/166 175) feb... 3 122/154/199|227/227/31l7|220|160, 160|168)173 march 126/153) 205/228/224/316/215|161/161/166/169 april (00 |£23/163|209]230]2241323)/206,163/162 166.167 may . : 130|164/21 2/231 235; 316) 196 164/160 165/165 june. : [29}159/215|233 242/311 189|164/155.165/159 july. : 129/153)214/233/250| 309/191 /162/151|/168/162 aug... , 1o6/1 30/163'21 3/237/258/308/187/157{1 51 /167|163 sept. . : 103/131/163)214/239/260| 302/181/155}/155|171/161 oct. : £0)]133/173)219]239,272|291 168/1 58/1 55]177 158 nov. o3/137[133]2221237\\280/272|166)1 58/160, 176/161 dec. eq'dg3 €37/225!'237 285'252 162/156} 161j179]|1 58 yearly average i9i5/1916|1917/1918 1919/1920 i921]1922|1923 1924/1925 301 | 193 | 160 | 157 190 statist . econo- mist . board of trade: (old series) (new scrics) 128 | 167 298 167 | 170 | 183/175 127 | 165 237 326 316 | 203 11641164 [171 [165 (b) other countries —the world movement of prices is best indicated by the united states index number, since in thit country alone the gold basis has been maintained throughout the period 1913 to 1925. in the united states prices rose rap- idly from the year 1916 to a maximum in 1920—in april the index was 273—and then fell rapidly till the spring of 1921; after slight variations, there was a rise from june 1924 to feb. 1925, and during the subsequent 12 months the number remained close to 160. in all the countries included in table hi. there was a rise from 1915 to 1920, greater or smaller according to the amount of paper money issued. in germany and austria the increase was so great that the numbers reached were almost incredible. after 1920 there was a fall in all the index numbers tadee. il. united kingdom united board of trade } states |. austra- : —_—_——_——] - canada| ~*\"7: south year bureau official! 1a aan a uy re ra old new mae official official series | series 1913 100 100 100 100 100 cere) igi4 ? 1003 g8 102 106 of iqi5 ‘ : 123 101 110 147 17 | 1916 ; : 160 [> 132 138 123 | i9l7 : : 209 177 179 153 11 : ; 199 1758 153 209 1389 165 244 220 223 172 175 160 152 162 128 153 l79 127 155 173 129 160 169 1258 215 in the table; by the end of rt925 canada, australia, south africa, sweden, the netherlands, switzerland and germany had returned to the gold basis, and in canada and europe there was a close approximation to the american index. in belgium, i'rance and italy depreciation recommenced in 1922, and in i'rance and italy prices had in 1925 passed the 1920 average. at the end of 1925 japan was taking steps to stabilise prices in that country. | 0 913 1914 §=6191s ss 19ngcyz siib = an year fic. 1.—diagram showing changes in wholesale prices in certain countries above or below th2 pric2 level in 1913, which is taken in every case as equal to 100. the diagram is based on the figures given in table lie. below. (c) selected commoditics —when commodities are taken sepa- riely, the measurements can be made more exactly, subject to che two following qualifications: (1) during the war period the ordinary sources of supply were so disturbed that pre-war kiads and qualities were no longer in the market (in the econo- mist index number 25 out of the 44 quotations included were subject to some modilication of quality); and (2) a statement of prices is generally taken as meaning the price at which a pur- chaser can obtain the goods he desires, and at which a merchant is willing to sell, but in the time of control and rationing these . conditions did not obtain, and the price was fixed by other con- ditions than these which intluence a free market. 1920 i92t i822 1923 1924 1928 index numbers of wholesale prices sweden ] tie ae : apan ee recs belgium| france] italy | bank svensk peas ‘ official | official | bachi of lie otficial | lorenz japan a= | official ss dels- tidning | too 100 100 ae sd 100 116 oe 109 100 100 102 i45 146 140 135 226 158 eal! 276 262 a439 ara 3.39 340 304 356 347 359 292 s : 509 a 222 182 iqi 366 345 re 160 168 267 327 163 is! is! 497 419 162 156 175 573 439 161 155 162 558 555 216 table iv. is based on the prices tabulated annually, in the pricls journal of the royal statistical socicty, by the editorol lhe tg | 1920 | 1921 | 1922 by ee statist. the index numbers have been recast, the average price in 1913 being taken as 100 for each commodity; the totals have been obtained by grouping together the separate entries on the same plan as in the original, but the change in the base year afiects the results, which thus differ from those given in table it. in the same way as if the weights had been changed. tabled iv. statist index numbers. average for fach year. average for 1913 taken as 100 1n each =o se see 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | vegetable food :-— | wheat | english gazette . | 229 {| 253 | 229 | 148 |] 132 | 155 | 163 ' american 205 ]).253- | 202 | bps | 130 |-1gbs- 191 flour, town made white £5 3%.) 206: |-2ey || f500 | 130: t4164 barley, gazette 278 | 330 | 200 | 147 | 124 | 172 | 154 oats, gazette . | 274 | 301 | 181 | 152 | 140 | 142 | 142 maize, u.s, mixed | 334 | 384 | 163 | 132 | 152 | 168°] 163° potatoes, english 254 | 311 | 254 | 167 | 128 | 238 | 197 _ rice, rangoon 313 | 501 | 226 | 172 | 172 | 206 | 195 | average 2553 | 319 | 208 | rsr | 138 | 172 | 169 : animal food: — beef: carcase, london eine - . | 200 | 231 | 215 | 164 | 147 | 152 | 148 ldgling : 220 | 255 | 22. 167 | 152 | 155 | 150 mutton: carcase, sa : 7 ase : london hd dling - | 20 258 | 22 21 iy2 | 185 | 176 pork: carcase, lon- : ? : : . don . 233 | 306 | 221 | 184 | 162 | 127 | 154 bacon, waterford 248 | 318 | 232 | 189 | 148 | 138 | 167 butter, friesland. | 575 253 | 290 | 170-1156 | 177-| 174 average . . | 214 | 264 | 220 | 185 | 16r | 159 | 163 tropical food :— sugar west et adiant - | 402 | 610 | 205 | 158 | 268 | 2467] 1715 beet, german! ne os are £40 ||) 246). 213\") 42 java, floating cargo - | 400 | 687 | 202 | 141 | 224 | 1984) 113! coffee 4 : i at pea 2 east india! 180 | 183 | 149 | 149 | 145 | 188 | 190 rio 215 | 210 | 119 | 140 | 10g | 161 | 186 tea congo, common! , 270 87 | 172 | 220 | 182 | 157 indian, good me- dium? - | 82 | rrg | 85 | 162 | 207 | 215 | 181 average import! . 171 | 165 | 137 | 164 | 194 | 209 | 202 | average! . - | 300 | 432 | 162 | 152 | 203 | 197 | 157 ! all food: average] 250 22 | 203 | 164 | 161 | 172 | 164 1. the entries in these cases of similar commodities are averaged before inclusion in the index numbers. 2 these commodities are not included in the index numbers. 3 white javas, c.i.f. for 1924-5 \"raw centrifugals for 1924-5. > la plata for 1924. it is at once evident that the various prices have not followed the same course; the extremes in 1920 were house coal, whose price rose only 49% in seven years, and java sugar, where the price is 587%. this wide divergence of itself shows that the general index number cannot have great precision. the prices as recorded are the resultants of at least five forces, viz.: the general inflation of prices, the conditions of supply and demand for the separate commodities, the control of supply, the control of prices, the change of quality. in 1915-6 the principal increases may be traced to the diminution or difficulty of supply (cereals, sugar, flax), to acuteness of demand (wool) or to both (timber). in 1917-8 the prices of nearly all commodities whose supply was threatened or for which the demand was increased were controlled. the quality was changed directly in the case of flour, and indirectly when the prices were averages of several grades, as in the cases of meat, flax, leather and timber. food.—the price of wheat rose immediately after the begin- ning of the war, and with it the prices of flour, oats, maize and minerals :— iron ; scottish pig! j bes bi6°b orf | tst) gor | 148?) 929 cleveland pig! 2457 | 57 | 236. (ps 7 187 11s 412s common bars. | 249 | 366 | 247 | 145 ] 153 |] 161 | 153 (copper standard . . | 135 | 143 | 102 93 | 971 93 ¢ ok i-nglish neue) cake? . | 135 | 153 | 98 | 90] 95 2 89 fins straits .. 128; 150 | 85 sr | 102 | 125 | 133 lead, 2 english pig. 154; 209 | 127 | 141 | 148 | 187 | 196 0a best yorkshire | house? 211 | 149 | 150 | 160 |] ist | 128 | 438 newcastle steam? 293 | 330 | 187 | 159 i8r | 143 | 106 average export 231 ! 572 | 250 ; 173 | 180 | 168 } 144 average! 218 | 276 | 172 | 135 | 144) 144 1 f4o0 textiles:— | cotton middling = ameri- can. oo } 330 bre r21 eas pso\". bhownuggar g.f. be 2 fos: wa 17 i9gg | 194 flax petrograd’, #. ; 331 | 279 | 245 | 353 271 | russian av. [m- | port’. +. . | 423 | 837 | 287 | 206 | 205 | 253 | 293 | flemp | manila fair rop- ing! . | 185 | 207 | 127 | 105 | 1o5 | 139 | 145 petrograd clean! . b88 3830 | ic .. | 150 | 213 | 234 jute, good medium | 189 | 169 | 104 | 116 | 98 | 120 ¢ 187 wool merino, port phi- lip! b72 ade agf) 217 | 2445/<207 | 228 merino, adelaide! 28° 4af 1-799) 186 | stes | 2651. 183 lincoln half hogs | 133 | 178 69 79 97 | 153 | 139 silk tsetlee’ 236 | 351 | 241 | 261 | 220 | 213 | 164 average! . . | 271 | 319 | 170 | 167 | 174 | 209 | 186 ‘miscellaneous: —- ilides river plate, dry! | 182 | 167 78 74 76 | 81 g2 river plate, salted'| 206 | 192 93 | 93 #6} qi 93 average import! x || os: | 249. tet 93 95 | 100 | 115 leather dressing hides! 187 22% \\- re oe 120 | fez | 118 average import! . | 211 | 370 | 240 | 187 | 163 | 17 171 tallow, town 255 | 218 | 105 | ror | 106 | 123 | 123 oi 7 palm. . | 197 | 198 | 105 98 | 103 |] 114 | 115 olive 2% fe be .. | 134 ] 161 | 149 linseed! 375 | 356 | 129 | 158 | 173 | 172 75 seeds, linseed? 306 | 345 | 159 | 166 | i7e | 178 | 177 i etroleum, refined | 204 | 298 | 260 | 186 | 153 ] 154 | 154 soda, crystals « | 249°] 317 | 205 | 259 | 217 | 214°} 211 nitrate of soda 216 | 215 | 165 | 125 | 117 | 118 | 116 indigo, bengal 332 | 52 416 | 358 | 273 | 220 + 209 timber hewn: average’ . | 344 | 300 | 172 | r1g | 120 } 125 | 120 sawn: import! 369 | 416 } 249 | 187 | 208 | 193 | 195 average! 268 | 307 | 195 | 167 ; i5i | 152 | 150 average materials} 256 | 302 | 181 | 159 | 156 | 168 | 159 average, food and materials 253} 311 | 190 | 161 | 158 , 169 | i6i | statist number 242 | 295 | 183 | 154 | 152 , 164 | 161 !'the entries in these cases of similar commodities are averaged before conclusion in the index numbers. > these commodities are not included in the index numbers. * wallsend ifetton in 1913. 4livonian z.k. from 1921. 5 cominon new style from 1921. rice. in great britain the prices were checked by the establish- ment of a government system of purchase at the end of 1916 and by the control of the prices of home-grown cereals in 1917; swith this system, flour of mixed materials was substituted for wheat-flour and the product sold at a price kept constant and relatively low by the help of a subsidy, beginning in the autumn of ror7. in the case of wheat and flour the subsidy and control continued till the beginning of tg21, but the prices rose; the primo de rivera prices of other cereals increased very rapidly from the autumn of 1919. an attempt was made to control theeconsumption of oats in 1917-8, otherwise cereals were not rationed. the whole- sale price of potatoes was fixed from time to time, the govern- ment undertaking to make good growers’ losses, but the price was changed so frequently that the control had little effect. after the general fall of prices in 1920-1, the nuctuations were principally due to rather abnormal harvest vicissitudes. during the war the price of meat increased somewhat less than that of commodities in gencral. prices were fixed in great brit- ain in aug. r9r7 and consumption was rationed early in 1918; after the armistice control was gradually released, but prices of beef and mutton changed very little during the two years after the first fixing of them. after the great drop in prices in 1921-2, wholesale prices of beef and pork remained relatively low, and those of mutton high during the period 1922-5. sugar was controlled till the beginning of 1921, at which date the world’s supply had been adjusted to the new conditions, but the supply of beet sugar did not recover, and prices were rela- tively high till 1925. af aterials —the prices of coal, iron and steel were subject to great iluctuations. iron and steel were controlled during the war, and from nov. 1917 till early in r919 a subsidy was given to producers. on its removal prices rose very considerably in consequence of the great demand for construction and repairs. subsequently there was the general collapse in prices, marked by the coal strike of 1921, partly due to the gradual return to normal conditions of the continental coal mines and steel works. some stimulus was given to prices by the french occupation of the ruhr district in 1923, but by the end of 1924 it was evident that the world’s capacity for coal and stcel production was in excess of requirements, and prices fell to an unremunerative level. the prices of copper and tin and, in some years, of lead fell relatively to general prices. the prices of cotton and wool reached great heights in the boom of 1920, followed by a complete collapse in 1921. during the period 1922-5 a world shortage of supply (as compared with normal requirements) kept prices on a high level, while con- tinued fluctuations of price hampered manufacture. the extraor- dinary rise in the price of flax was due to the cutting off of the polish-russian supply, which had not recovered by the end of 1925. space does not permit any analysis of the price move- ments of miscellaneous materials, or of that of rubber, not included in the statist list. retail price movements in the united kingdom.—table v. shows the movement of the ministry of labour’s index of retail food prices. this measures the relative cost of purchasing each month exactly the same quantities and as nearly as possible the same kind of food asin a standard budget of working-class expend- iture; this budget is based on an investigation made in 1904 and was modified slightly in r914. during the period of control, 1917-9, the index is to some extent fictitious, since the quan- table v. average of retail food price changes in the united kingdem (minisiry of labour gasetie). level in july 194 taken as 100 see ainiael l peg ne o15 1916/1917|1918|1919|1920|1921 |1922/1923/1924|1925 bt tm ee ee a es | jan 118 | 145 | 187 | 206 | 230 | 236 | 278 | 185 | 175] 175 | 178 feb. 122 | 147 | 189 | 208 | 230 | 235 | 263 | 179 | 173. | 177 | 176 march . | £24 | 148 | 192 | 207 | 220 | 233 | 249 | 177 | 171 | 176 | 17 april . ) 124 | 149 | 194 | 206 | 213 | 235 | 238 | 173 | 168 | 167 | 170 may. | 126 | 155 | 198 | 207 | 207 | 246 | 232 | 172 | 162 | 163 | 167 june. | 132] 159 | 202 | 208 | 204 | 255 | 218 | 170 | 160 | 160 | 166 july 133 | 161 | 204 | 210 | 209 | 258 | 220 | 180 | 162 | 162 | 167 ‘lug. 134 | 160 | 202 | 218 | 217 | 262 | 226 | 175 | 165 | 164 | 168 sept. . | 135 | 165 | 206 | 216 | 216 | 267 | 225 | 172 | 168 | 166] 170 oct. . | 140 168 | 197 | 229 | 222 | 270 | 210 | 172 | 172 | 172 | 172 | nov. i41 | 178 | 206 | 233 | 231 | 291 | 200 | 176 | 173 | 179 | 172 is 144 | 184 | 205 | 229 | 234 | 282 | 195 | 178/176] 180] 174 ncat / 131 160 | 198 | 215 | 219 | 256 | 230 | 176 | 169] 170] 171 whole- | sale | | food | | | | (statist) 4142173. 22512371 2451908 | 210 | 173 | 162 | t74 \"169 | 217 tities of the goods included could not be purchased, and generally no allowance is made for modifications of purchases when prices are changing unequally; but there is good reason to believe that these considerations are of little importance after 1920. there is a seasonal fall in the spring and rise in the autumn, owing to the inclusion of dairy produce, and in particular to the supposi- tion that the same number of eggs are bought in jan. and april; but not improbably this reflects a real change in the cost of nourishment. though the number is based on an average of prices all over the country, it is nearly applicable to all districts, since in recent vears there has been increasing uniformity in prices and their changes. the statist wholesale food index is repeated (on the basis of july 1914) for comparison, though the range of commodities and their relative importance are not the same in the two num- bers. the rise up to 1920 is considerably smaller in the retail index, while the concurrence since 1921 is very striking. retail prices in 1921 did not fall, however, so rapidly as wholesale, and it is generally to be expected that their movements will be later and of a smaller amplitude than those of wholesale prices. (a. l. bo.) primo de rivera, miguel (1870~ ), spanish soldier and statesman, known as the marquis de estella, was born at jerez de la frontera jan. 8 1870, and subsequently entered the madrid military academy. after four years in toledo he was ordered to morocco in 1893 as lieutenant of the infantry regi- ment of extremadura, and in oct. of the same year was promoted to the grade of captain for extraordinary personal bravery. in 1895 he was adjutant to gen. martinez campos in cuba, and rose to be major commanding the infantry battalion of zamora. he served in the philippines in 1897, and negotiated the treaty of biagnabato (biacabato) on dec. 12 1897, whereby the insur- gents and their leader aguinaldo surrendered and retired to hongkong (see 214.339). returning from the philippines, in rgq0o he commanded a battalion in barcelona for a year and a half, after which he was transferred to the general staff, whence he repaired to algeciras as commander of a battalion. in rors he was appointed governor of cadiz, and spent a month at the vrench front during the world war. his speech to the hispano- american academy advocating the exchange of gibraltar for ceuta or other north african territory, and corrosively criticising the government’s policy in morocco, resulted in his being re- lieved from the governorship of cadiz. his exceptional military talents, his brilliant exploits, his unaffected simplicity and straightforwardness, his sympathy with the feelings and interests of the army and the nation, had won for him the confidence of the king, the general staff ancl the public, so that despite his out- spokenness in the academy, he was soon afterwards promoted to be general and chief of the first infantry division in madrid. in ro2zt the marquis de estella was elected senator for cadiz, and dclivered a powerful speech in the upper chamber reallirming in emphatic terms the views he had already put forward respecting \\lorocco and the necessity of relieving the na- tion of that onerous burden. whereupon primo once again lost his post. but the effects of his uncommon civic courage and unselfish patriotism prevailed once more over considerations of petty discipline, and he was entreated to undertake the most difficult and dangerous post in spain—that of captain-general of catalonia—with a view to ending the reign of terror there, of which the central govt. was content to remain a listless onlooker. separatism, syndicalism and genuine thuggism of the most dastardly character paralysed the population. accepting the invidious task, the new captain-general soon reaped a measure of success fully proportionate to his chivalrous character. his personal influence and his limited legal powers. easy and generous to the point of familiarity in his private life, the marquis de estella was punctilious and exacting in matters affecting the nation, the army and the monarch, and his integrity was proverbial. he soon recognised the chaos in catalonia for what it was—one of the indirect consequences of the breakdown of the parliamentary regime. this was also re- sponsible for the mismanagement of the morocco campaign, as 218 well as for the ferment in the army brought about by the niggard- liness, the favouritism and criminal recklessness of the central government. the cortes, which in a decade had trebled the pay of its members, refused the money needed for the training and equipment of the rank and file of the army, while the average officer was so badly paid that he could not afford a sanitary dwell- ing, decent clothing or even a pair of jeather boots. although the evil had long been diagnosed nobody had had the courage to uproot it, until the dauntless marquis de estella surprised the world by his manifesto dated sept. 12 1923, and published the following day, suspending the constitution and proclaiming in its place a directorate consisting of military and naval officers. he further announced that this arrangement was but a bridge leading to a future system of government better suited to spain's needs than that which he abolished. this military coup d’etat was carried out without bloodshed. the methods of the directorate were prompt and radical. separatism, syndicalism and bolshevism were put down swiftly and without needless rigour. an anti monarchist conspiracy was checked with dignity and disdain. labour conditions were bet- 1922 crop yield value spring wheat . 689 863 oats . : ; 6,533 2,662 mixed grains : ; 652 408 potatoes! ; : , ; 2,658 1,329 turnips, mangolds!, etc. oat $33 hay and clover? ; 379 4,553 1cwts. ? tons. tered, taxation reforms were drafted, a supplementary grant of 12,000,000 pesetas was made for education; the administration of justice, which needed thorough reform, was partially purged; gambling, which had become a cancerous growth on the body politic, was to a large extent suppressed throughout the realm, and promotion in the public services was made dependent upon merit. the parlous condition of the finances also exercised the ingenuity and tested the resourcefulness of the directorate, which within 15 months cut down a growing deficit of 1,000 million pesetas to 532 millions. the dictator and his colleagues revived the mediaeval liberties of the municipalities, giving them strong incentives to scell- government, and formed a national militia the function of which was to maintain public order in times of unrest, and otherwise to sustain the spirit of civic virtue. lastly, primo called into being under the name /a unien patrietica, a fellowship of “ citizens of goodwill ”’ to work for the realisation of ethical ideals in public life, and hinder a return to the venal system just swept away. this innovation was welcomed with marked enthusiasm, and within a few months the members numbered over 1,250,000. mindful of the undertaking he had given at the outset, primo dissolved the directorate on dec. 3 1925, and substituted a government composed of civil as well as military ministers— mostly young men—as. a preparatory step towards a new regime. the dictator himself, however, became premier, and his policy was pursued without change. upon his accession to power gen. primo de rivera’s views on the morocco problem underwent a complete transformation, which he frankly proclaimed without apologies but not without explanation. history, he held, constantly modifies political situations, and methods must be adjusted to current events. of this the morocco imbroglio was an illustration. by the year 1923 it had ceased to be a purely moroccan struggle on the part of abdel krim for home rule, and had become an international enterprise (see morocco). ce. dr) prince edward island (see 22.344), a province of the dominion of canada. the population in 1921 was 88,615,areduc- tion of 5-46% from the census of ro11. this tendency to decline has continued in each decennial period since 1891 when the popu- lation reached its highest figure of 109,078. this island province, however, is still the most densely populated in the dominion, having 40'5 persons to the square mile. charlottetown, the capi- prince edward island—princeton university tal (pop. 12,347 in 1921), is situated on the shore of hillsborough bay, which forms a fine harbour. other towns are summerside (3,228) and souris (1,094). about 77% of the population is rural. the government is vested in a lieutenant-governor, an execu- tive council of nine members, six of whom are without portfolios, and a legislative assembly of 30 members; 1§ councillors elected on a property qualification and r5 assembly men on popular franchise; the suilrage was granted to women in 1922. the prov- ince has four members in each of the federal houses of parlia- ment; the representation in the house of commons, under an imperial statute of 1915, cannot fall below the representation in the senate. in education progressive changes have been made, including the introduction of a minimum wage for teachers, a substantial increase in the education grant, and the establishment of an agri- cultural technical school in 1921. production.— agriculture was still the leading industry in 1925, despite the annual decline in production from 1919 on- wards. the yield in thousands of bushels and value in thousands of dollars of the principal ficld crops from 1922-5 was as follows :— 1923 1924 1925 vicld value yield value yield value 575 655 535 850 554 798 5,881 2,565 5,065 3,004 5,519 2,468 738 421 766 574 749 438 272 770 5,776 2,558 3,859 6,753 2,157 647 2,336 7oi 2,531 1,012 eg 3,856 372 4,090 366 3,755 seed-potato production, for export to the united states, showed a steady development during the years 1921 to 1924. dairying and poultry-raising are important: the production of creamery butter increased from 670,908 |b. in 1910 to 1,537,437 ib. in 1923; during the same period the production of factory cheese fell from 3,293,755 lb. to 1,811,537 pounds. the breeding of silver black foxes is an established and profitable industry. after a long period of depression it began in 1922 to gain ground, and in 1924 was the second largest industry of the province, with 448 fox farms and an estimated revenue from the sale of pelts and animals of about $2,000,000. the fisheries of the province were valued at $1,201,772 in 1924, a reduction of over 30% as compared with the preceding year. the lobster catch formed more than half of the total, oysters ranking second in importance. attempts to replant the oyster fields have largely proved a failure owing to the presence of de- structive pests. manufacturing is limited chiefly to food prod- ucts, the gross value in 1924 being $4,462,821. in 1924 the province had 279 m. of railway, and daily com- munication by car ferry with the mainland has been maintained, with rare interruptions, summer and winter, since 1918. both are operated by the canadian national railways. the construc- tion of a tunnel to replace the ferry, and the standardisation of gauges on the island railways have frequently been advocated. (sle) prince of wales: sce fdward, prince of wales. princeton university.—in sept. toro woodrow wilson resigned the presidency, and in jan. 1912 prof. john grier hibben was elected president. the period between i912 and 1925 was marked by gradual restoration of solidarity after the disrupting controversies of the preceding four years; by extended administrative reorganisation; by promotion of faculty auton- omy, remuneration and welfare; by clarification of educational aims; by closer attention to the physical, intellectual and moral environment of undergraduate life; by wider recognition of alumni representation. in 1912 and 1919 the business organisation of the university was remodelled. a standing committee of trustees and of the faculty was instituted in 1912 to consider all matters of educational policy and administration; in 1913 the faculty was given voice in forming its committees and initiating appoint- menis and promotions; in 1918 the rights of the individual in printing cases of dismissal were safeguarded; a new scale of salaries was adopted in 1920; retiring allowances and insurance were set in 1922; and relief for housing shortage was supplied in 1922 and 1925. especial attention was given to the development of the students’ health, by thorough physical examination, and by re- quired supervised exercises. a development of the honour system in examinations (adopted 1893), to cover petty dishonesties, was authorised in 1921 and student self-government was so extended that by 1925 the conduct of discipline, student activitics and the regulation of athletics were shared by joint committees of faculty and undergraduates. in the world war over 5,600 princeton men were in service. the university laboratories were occupicd by government bureaus of research, and the dormitories by a school of aviation, a naval paymaster school, a student army training corps and a naval training unit. the atrium of nassau hall was converted into a memorial of the 150 men who died in service and a scholarship was founded in memory of each. additional depariments——in 10913 the erection of the resi- ’ dential graduate college rendered permanent what had been an experimental feature of the princeton graduate school. by maintaining the highest standards and limiting the number to 200 (1922) the graduate school planned to meet the need for gifted young scholars. a school of architecture, opened in £920, was developed within the department of art and archaeology. the school of enginecring was in 1921 reorganised to lead to the degree of b.s. in engineering, and to offer graduate courses leading to the degrees of c.e., e.e., m.e., e.m. and chem.e. the separate school of electrical enginecring, established in 1889, was absorbed by the school of engineering. other new departments were those of psychology (separated from philoso- phy); politics (separated from history); music; and military science. new professorships were endowed in history, mediaeval history, spanish, chemistry and ancient literature. after the war a field artillery unit was established and erected into a department of military science. scholastic changes —the entrance requirements were revised in 1913 and ro1g. to place the university in closer touch with american secondary education, greek was no longer required (though strongly advised) for the a.b. degree. the curriculum was remodelled in 1o1g, and in 1923 new standards for bachelor degrees were pul into effect. the elective principle was broad- ened by a new plan of upper class study, developing the appli- cation of the preceptorial system. meanwhile the enrolment reached the capacity, 2,000, set by the university. to keep within this number, a plan of selective admission to the freshman class was adopted in 1923. in ro1g the alumni association of nassau hal! founded in 1826 was reorganised into a national association, and in 1922 the number of trustees elected by the alumni was increased from five to eight, or nearly one-fourth of the board. endowment and buildings.—the inadequate endowment after the world war led to a campaign, and the raising of about $9,000,000. a bequest from the late henry c. frick, not fully received in 1925, was expected to amount to about $5,000,000. a permanent committce was appointed in 1925 to obtain an additional endowment of $20,000,000. during the period 1912 to 1925, 22 new buildings were erected, and the foundations were laid (1925) of a new chapel. among these buildings were the graduate college, two units of faculty apartments, six dormitories, a new infirmary, a psychological laboratory, universily dining halls, a stadium, a rink, a univer- sity powcr house and permanent quarters for the field artillery unit. in 1912 the endowment was $5,194,851, income $766,943, disbursements $831,538, salaries and expenses $408,360. in 1925 the endowment was $15,159,393, income $1,833,091, dis- bursements $1,873,166, and salaries and expenses $1,690,900. the library grew from 337,965 vols. in rg12 to 576,849 in to25, not including 286,851 pamphlets, manuscripts, etc. in the same period the faculty increased from 182 to 260, the graduate enrolment from 152 to 196 and the undergraduate enrelment from 1,391 to 2,279, (v2 bcs) 219",
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