Page:Indian Journal of Economics Volume 2.djvu/427

 RELAII'IE PRIOE OF FOOD 409 except relation in the year 1908, when the gram and barley was too high owing to the phenomenally low area under gram in India in 1907-08. of prices of food The prices are roughly their importance, whst gram and barley with . The curves month. 1891-1915 is Rs. 3.19 The general level shown in Graph A. in proportion to with 4 and have also been by fortnight or from taken as 100. shown for the years 1917 The average a maund which grains is weighted and rice and 1918 price level has been If the Grs.phs .A and B be eompsred,.the closeness of their relation s apparent. The rise and fall agree except in 1894 and 1899, when the price re- lation curve anticipated he large rise in. prices in the following year, and in 1915 in 1916 was anticipated. In 1906-7 tion was falling while prices were well known fact that there was $ price of food grains all over India between fallen when $ similar fall the price tela- rising. It is $ general' rise in 1904 and 1908, and prices have never since former level. A general rise in prices, to scarcity, would not affect the price relations the food grains so that this fall of price relations to their not wholly due of in 1906-1907 indicates that it was mainly in these years that the general rise of prices took place. After the scarcity of 1900 the price level of food grains appears to have risen somewhat. When the price relation stood at 100 the price level in 1892 stood kt 82, in 1895 at 82' and in 1899 at 79, averaging 81. When the price relation was at 100 the price level in 1901 was at 95, and in 1905 was at 96. When the price relation in 1906-7 was at 100 the price level stood at 114 and in 1907-8 at 123. &!