Prices are going up again and the excuse is one which has been long anticipated. Every student of the genus shopkeeper viewed with a certain cynical alarm the fact! that during the days when exchange was soaring, when the tael was Gignified by an increase from about 2/8 to nearly 9/- the shopkeepers made no real efforts to cheapen their prices. The difficulty of obtaining freight, the increase of prices at home—which in no way affected the purchasing power of the tael, except that by reason of its greater value it could purchase more even of the dearer articles—were the excuses then made.
Now that exchange is going back, although the fall is, by many, regarded as purely temporary, the Provision Merchants' Association of Shanghai have decided that prices must go up, and a circular to that effect is being sent round to householders, We reproduce the interesting document for the benefit of those who may not yet! have seen it:—
"This is to inform you owing to the low exchange rates prevailing of late, the price of all kinds of canned goods is to be raised than the market's previous current prices. The last meeting of the Association resulted in the decision that, to avoid the possibility of loss to the dealers, the price of all goods should be "las mentioned below."
The wording of the above is in-genius in the extreme. The decision to raise prices does not appear to be because of the imminent danger of loss, but in order to avoid the possibility of loss to the dealers." It reminds one of the takers who used to put a farthing on the loaf when wheat went up 2/- per quarter.
A vender. who was good tnough to forward the above circular together with the increased prices, has worked out the increase on a percentage basis and finds it ranges from 10 to 15 ver cent. Sugar. for instance, has risen from $1.20 to $1.50 for 10 Ili. an increase of three cents per Ib. "Tf." he says. "a 15 per cent, increase is ordered with exchange at 5/8. one wonders when iti is to end and whether the precedent set by this Association 2 to be followed by others concern-
Text read from the printed page and cleaned; old type leaves the occasional error.