(To 21011 EDITOR or ran "SrEcr.aos..1 SIR,—I have been a
constant reader of your paper ever since I could afford to buy a sixpenny paper, which is now some- thing like forty years. I have always been much impressed by your treatment of the subject of "supply and demand." A propos of what appeared in a recent article, the following shows your view to be absolutely correct, so far as "hog 'r products are concerned. I have bad the prices of the leading descriptions of bacon and lard taken from the official quota- tions of the Liverpool Produce Exchange, and enclose them herewith. You will observe that " Cumberland cut" bacon, which I take is the leading line in American bacon, was on February 16th, 1914, from 64s. to Ma. per hundredweight, on July 27th, 1914, 63s. to 68s., and to-day 63s. to 66s.; whilst for tierces of lard the prices were, for the same dates, 55a 6d. to 56e., 48s. 9d. to 49s. 6d., and 54s. to 55e. respectively. The prices ruling during 1914 were probably the highest on record for American provisions. The result, following oat your argument, shows that the high prices induced American packers to pack larger quantities, the imports during the last few weeks having been probably four er See times the number of boxes that came in at the same period during 1914.—I am,
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