The difference between price and value was also strikingly exhibited in the history of the Confederate States during the Rebellion. In both sections of the country, the variations in 1864 were so great as to attract universal attention ; but they always exist, in greater or less degree, under a mixed-currency system, because the standard of value, except at short intervals, is not sound. The difference begins to manifest itself whenever the currency is inflated beyond its natural volume, and increases with that inflation.

We here present a table, showing the historical variations in certain commodities, for a series of twenty-six years, under the undisturbed operation of a mixed-currency sys

tem.

We have selected, for the purpose, the period 1834-1859, inclusive, because it is the only one for which we have correct data, that is, well-authenticated returns; and for the additional reason that the period was one of general peace, at home and abroad.

The articles we have selected for this comparison are the most common in use, whose prices are best known and least liable to variations, except from changes in the value of the currency, and therefore, it is supposed, most proper for our illustration.