Reply To: Monetary Value and Volume

#21903
jmherbener
Participant

The case is somewhat mixed, but mainly it’s different cargo. Luxury goods were imported from England into the colonies, which commanded higher prices with lower physical volume than raw materials.

You can find discussion of this issue in the book: E.R. Johnson et al., History of Domestic and Foreign Commerce of the United States(Carnegie Institution of Washington, 1915).