The whole world, witnessing the ease in the American money markets and our superabundance of gold, has been watching for our commodity prices to rise under "gold inflation." Thus far, however, it has watched in vain. Indeed, according to the U. S. Department of Labor indices of wholesale prices for June, commodity prices in this country were falling instead of rising. The index weighted index number, which includes 404 commodities, fell to 144.6 for June, from 146.9 in May and 153.5 for June, 1923. It has declined steadily since February, 1924, when it was 152.
The drop of prices during June was...
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