Page:Stabilizing the dollar, Fisher, 1920.djvu/75

6] United States in 1918 were 16% more than in 1913 and 2% more than in 1917. The physical volume of trade in 1918 is estimated variously by my own fragmentary studies, published and unpublished, and by the studies of others to be from 22% to 41% above that in 1913 and 8% above that in 1917.

President Wilson, in his address to Congress, August 8, 1919, on the High Cost of Living gave other impressive examples as to foods, especially eggs, frozen fowls, creamery butter, salt beef, and canned corn, showing that there is no scarcity to account for high prices.

Aside from this argument as to the abundance of goods in belligerent countries, there is the additional