“SCARCITY OF COMMODITIES” or 
dispensed with, while military services immensely 
increased. No doubt the old commodities counted 
for much more in the composition of index numbers 
of prices than the new commodities, and consequently 
the index numbers exaggerated the real rise of 
general prices. But this forms merely one more 
example of the admitted difficulty of adapting index 
numbers of prices to changing circumstances. 
In the lassitude which immediately followed the 
war and the post-war boom, it is probable that there 
was some appreciable reduction of commodities in 
general, but it is quite certain that this was absolutely 
negligible compared with the enormous fluctuations 
in amounts of currency which took place. Any 
abnormal scarcity of commodities which occurred was 
the merest trifle compared with the superfluity of 
currencies. 
Further, it may be pointed out that the neglect of 
changes in the quantity of ‘‘ all other things ”’ in the 
earlier part of this book is more apparent than real. 
The two things which are likely to increase *‘ all other 
things’ are increase r.{ ‘acus*-ious population and 
increase of predic Tacrease of produce 
per cat’ .s win “he x acroased wealth, and 
both this an inci of popul tion have been dealt 
with und-- “-mand fr ¢errenev ~~ far as appeared 
necess~™