2. The great fall of prices, due to cheapening of production and of
transport during the last twenty years, benefits the poor far less than
the rich. For, while the prices of most comforts and luxuries have
fallen very greatly, the same is not true of most necessaries. The gain
to the workers is chiefly confined to food prices, which have fallen
some 40 per cent since 1880. Taking the retail prices of foods consumed
by London working-class families we find that since 1880 the price of
flour has fallen about 60 per cent., bread falling a little more than
half that amount; the prices of beef and mutton have fallen nearly to
the same extent as flour, though bacon stands in 1903 just about where
it stood in 1880. Sugar exhibits a deep drop until 1898, rising
afterwards in consequence of the war tax and the Sugar Convention; tea
shows a not considerable drop. Other groceries, such as coffee and
cocoa, and certain vegetables are cheaper. A careful inquiry into
clothing shows a trifling fall of price for articles of the same
quality, while the introduction of cheaper qualities has enabled workers
to effect some saving here. Against these must be set a slight rise in
price of dairy produce, a considerable rise in fuel, and a large rise in
rent. A recent estimate of the Board of Trade, having regard to food,
rent, clothing, fuel, and lighting as chief ingredients of working-class
expenditure, indicates that 100 shillings will in 1900 do the work for
which 120 shillings were required in 1880.
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