Page:Stabilizing the dollar, Fisher, 1920.djvu/96

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STABILIZING THE DOLLAR
[Chap. II

Fig. 11. The Relative Stability of Certain Commodities Each Measured in Terms of Commodities in General

The curve for gold is the same as the lower curve of Fig. 10. It shows the rise and fall of a unit of gold as measured by its purchasing power over commodities in general. The curve for silver shows likewise the changes in the purchasing power of a unit of silver. The other curves show the purchasing power of pig iron, pig lead, copper, eggs, wheat, Brussels carpets, and brick.

It will be observed that gold, as a standard of general purchasing power, has been more stable than silver but less stable than eggs or carpets, which last proves to be the most stable standard of purchasing power during this period. As to wheat, its power to purchase commodities has fluctuated widely but has shown a general horizontal trend.