Approximate Annual Value of Manufactures Produced in the Principal
Manufacturing Countries at dates named, 1780 to 1900.
=================================================
| 1780. | 1800. | 1820. | 1840. |
Countries. +-------+-------+-------+-------+
| Millions of Dollars.
----------------+-------+-------+-------+-------+
United Kingdom | 861 | 1,119 | 1,411 | 1,883 |
Germany | 243 | 292 | 414 | 730 |
France | 715 | 925 | 1,071 | 1,285 |
Austria-Hungary | 146 | 243 | 389 | 691 |
Russia | 49 | 73 | 97 | 195 |
Italy | 49 | 73 | 122 | 195 |
Belgium | .... | .... | .... | 292 |
Spain | 49 | 97 | 146 | 219 |
United States | 73 | 122 | 268 | 467 |
Various | 151 | 219 | 292 | 438 |
----------------+-------+-------+-------+--------
Total | 2,336 | 3,163 | 4,210 | 6,395 |
----------------+-------+-------+-------+-------+
================================================
| 1860. | 1888. | 1896. | 1900.
Countries. +-------+-------+-------+-------
| Millions of Dollars.
----------------+-------+-------+-------+-------
United Kingdom | 2,808 | 3,991 | 4,263 | 5,000
Germany | 1,509 | 2,837 | 3,358 | 4,601
France | 1,849 | 2,360 | 2,900 | 3,450
Austria-Hungary | 973 | 1,231 | 1,596 | 2,000
Russia | 754 | 1,767 | 1,849 | 1,980
Italy | 389 | 589 | 925 | 1,700
Belgium | 438 | 496 | 574 | 750
Spain | 292 | 414 | 589 | 615
United States | 1,908 | 7,022 | 9,636 |13,004
Various | 779 | 1,767 | 2,097 | 2,317
----------------+-------+-------+-------+-------
Total |11,699 |22,474 |27,787 |35,417
----------------+-------+-------+-------+-------
Note.--The figures (Mulhall’s estimates prior to 1900) here given for
the United States are those of gross values. The relation of “gross”
to “net” value of the manufactures of the United States is explained
at page 211.
Approximate Annual Value of Manufactures Produced In the Principal
Manufacturing Countries at dates named, 1780 to 1900.
=================================================
| 1780. | 1800. | 1820. | 1840. |
Countries. +-------+-------+-------+-------+
| Millions of Dollars.
----------------+-------+-------+-------+-------+
United Kingdom | 861 | 1,119 | 1,411 | 1,883 |
Germany | 213 | 292 | 414 | 730 |
France | 715 | 925 | 1,071 | 1,285 |
Austria-Hungary | 146 | 243 | 389 | 691 |
Russia | 49 | 73 | 97 | 195 |
Italy | 49 | 73 | 122 | 195 |
Belgium | .... | .... | .... | 292 |
Spain | 49 | 97 | 146 | 219 |
United States | 48 | 81 | 179 | 311 |
Various | 151 | 219 | 292 | 438 |
----------------+-------+-------+-------+-------+
Total | 2,311 | 3,122 | 4,121 | 6,239 |
----------------+-------+-------+-------+-------+
================================================
| 1860. | 1888. | 1896. | 1900.
Countries. +-------+-------+-------+-------
| Millions of Dollars.
----------------+-------+-------+-------+-------
United Kingdom | 2,808 | 3,991 | 4,263 | 5,000
Germany | 1,509 | 2,837 | 3,358 | 4,601
France | 1,849 | 2,360 | 2,900 | 3,450
Austria-Hungary | 973 | 1,231 | 1,596 | 2,000
Russia | 754 | 1,767 | 1,849 | 1,980
Italy | 389 | 589 | 925 | 1,700
Belgium | 438 | 496 | 574 | 750
Spain | 292 | 414 | 589 | 615
United States | 1,272 | 4,681 | 6,426 | 8,371
Various | 779 | 1,767 | 2,097 | 2,317
----------------+-------+-------+-------+-------
Total |10,063 |20,133 |24,577 |30,784
----------------+-------+-------+-------+-------
Note.--Figures are those of Mulhall, except for 1900, the figures of
gross manufactures for the United States having been reduced to net on
the basis of net equal to 66⅔ per cent of gross; figures for 1900,
estimate of Wm. J. Clark, in Engineering Magazine, May, 1904.
Importation of Manufactures into United Kingdom and United States,
respectively, at quinquennial years, 1870 to 1908.
[From official statistics of the respective governments.]
==================================================
| Into the United | Into the United
| Kingdom. | States.
Year[D] | Millions dollars. | Millions dollars.
----------+-------------------+-------------------
1870 | 277 | 229
1875 | 354 | 241
1880 | 405 | 307
1885 | 406 | 261
1890 | 478 | 348
1895 | 483 | 296
1900 | 630 | 337
1905 | 707 | 430
1907 | 754 | 638
1908 | 696 | 528
----------+-------------------+-------------------
[D] For United States, fiscal years; for United Kingdom, calendar years.
Commerce of the United States, the United Kingdom and Germany, from 290
1875 to 1908. Showing exports of domestic merchandise, and exports of
domestic manufacture from each country named.
=======+=========================================+
| Imports of merchandise. |
-------+-------------+-------------+-------------+
| United | | United |
Year. | Kingdom. | Germany.[E] | States.[F] |
-------+-------------+-------------+-------------+
| Dollars. | Dollars. | Dollars. |
1875 |1,819,779,000| 839,590,000| 533,005,000|
1880 |2,001,251,000| 670,945,000| 667,955,000|
1885 |1,805,316,000| 699,067,000| 577,527,000|
1890 |2,047,298,000| 990,023,000| 789,310,000|
1895 |2,027,822,000| 980,719,000| 731,970,000|
1900 |2,545,544,000|1,372,216,000| 849,941,000|
1901 |2,540,264,000|1,290,254,000| 823,172,000|
1902 |2,571,416,000|1,340,178,000| 903,321,000|
1903 |2,642,054,050|1,424,080,000|1,025,719,000|
1904 |2,681,629,000|1,514,660,000| 991,087,000|
1905 |2,749,669,000|1,696,660,000|1,117,513,000|
1906 |2,958,289,000|1,909,210,000|1,226,562,000|
1907 |3,143,293,000|2,046,187,000|1,434,421,000|
1908 | | |1,194,342,000|
-------+-------------+-------------+-------------+
=======+=========================================+
| Exports of domestic merchandise. |
-------+-------------+-------------+-------------+
| United | | United |
Year. | Kingdom. | Germany. | States.[F] |
-------+-------------+-------------+-------------+
| Dollars. | Dollars. | Dollars. |
1875 |1,087,497,000| 593,052,000| 499,284,100|
1880 |1,085,521,000| 688,500,000| 823,946,353|
1885 |1,037,124,000| 680,551,000| 726,682,946|
1890 |1,282,472,000| 791,717,000| 845,293,828|
1895 |1,100,453,000| 789,660,000| 793,392,599|
1900 |1,417,086,000|1,097,509,000|1,370,763,571|
1901 |1,362,729,000|1,054,685,000|1,460,462,806|
1902 |1,379,283,000|1,111,008,000|1,355,481,861|
1903 |1,415,179,000|1,113,313,000|1,392,231,302|
1904 |1,463,412,000|1,242,987,000|1,435,179,000|
1905 |1,605,053,000|1,364,131,000|1,491,745,000|
1906 |1,827,737,000|1,513,449,000|1,171,953,000|
1907 |2,074,125,000|1,634,803,000|1,853,718,000|
1908 | | |1,834,786,000|
-------+-------------+-------------+-------------+
=======+========================================
| Exports of domestic manufactures.
-------+-------------+-------------+-------------
| United | | United
Year. | Kingdom. | Germany. | States.[F]
-------+-------------+-------------+-------------
| Dollars. | Dollars. | Dollars.
1875 | 978,886,000| ........ | 101,962,000
1880 | 970,681,000| 460,279,000| 121,818,000
1885 | 913,353,000| 504,623,000| 150,256,000
1890 |1,118,657,000| 511,096,000| 178,982,000
1895 | 953,800,000| 518,723,000| 205,058,000
1900 |1,142,603,000| 709,806,000| 484,846,000
1901 |1,110,131,000| 688,409,000| 465,778,000
1902 |1,127,606,000| 735,182,000| 453,865,000
1903 |1,163,812,000| 780,925,000| 467,898,000
1904 |1,204,359,000| 819,196,000| 523,320,000
1905 |1,322,851,000| 910,017,000| 611,426,000
1906 |1,523,699,000|1,046,938,000| 686,023,000
1907 |1,690,038,000| No data. | 740,123,000
1908 | | | 750,576,000
-------+-------------+-------------+-------------
[E] Imports for consumption.
[F] Years ending June 30.
Exportation of Manufactures from United Kingdom and United States, 291
respectively, at quinquennial years, 1870 to 1908.
[From official statistics of the respective governments.]
=========+====================+====================
| From the United | From the United
| Kingdom. | States.
Year[G] | Millions dollars. | Millions dollars.
---------+--------------------+--------------------
1870 | 888 | 70
1875 | 979 | 102
1880 | 965 | 122
1885 | 915 | 150
1890 | 1,112 | 179
1895 | 941 | 205
1900 | 1,126 | 485
1905 | 1,329 | 611
1907 | 1,694 | 740
1908 | 1,445 | 751
---------+--------------------+--------------------
[G] For United States, fiscal years; for United Kingdom, calendar
years.
Coal Production of the World by Principal Countries, at quinquennial
periods from 1870 to 1895 and annually since that date.
[From reports of the United States Geological Survey.]
=======+============+============+============+===========+
| | | | |
| United | Great | | |
Year. | States. | Britain. | Germany. | France. |
| | | | |
-------+------------+------------+------------+-----------+
| Short tons.| Short tons.| Short tons.|Short tons.|
1870 | 33,035,580| 123,682,935| 37,488,312| 14,530,716|
1875 | 52,348,320| 149,303,263| 52,703,970| 18,694,916|
1880 | 71,481,570| 164,605,738| 65,177,634| 21,346,124|
1885 | 111,160,295| 178,473,588| 81,227,255| 21,510,359|
1890 | 157,770,963| 203,408,003| 98,398,500| 28,756,638|
1895 | 193,117,530| 212,320,725| 114,561,318| 30,877,922|
1896 | 191,986,357| 218,804,611| 123,943,159| 32,167,270|
1897 | 200,229,199| 226,385,523| 132,762,882| 33,938,987|
1898 | 219,976,267| 226,301,058| 144,283,196| 35,656,426|
1899 | 253,741,192| 246,506,155| 149,719,766| 36,215,026|
1900 | 269,684,027| 252,203,056| 164,805,202| 36,811,536|
1901 | 293,299,816| 245,332,578| 168,217,082| 35,596,536|
1902 | 301,590,439| 254,346,447| 165,826,496| 33,286,146|
1903 | 357,356,416| 257,974,605| 179,076,630| 38,466,873|
1904 | 351,816,398| 260,319,665| 186,785,378| 37,663,349|
1905 | 392,722,635| 264,464,408| 191,576,074| 38,951,360|
1906 | 414,157,278| 281,195,743| 222,350,526| 37,828,931|
-------+------------+------------+------------+-----------+
=======+================+=======
| | Per
|Total production| cent
Year. | of the | of
| world. | U. S.
-------+----------------+-------
| Short tons. |
1870 | 234,850,088| 14.07
1875 | 308,479,177| 16.97
1880 | 369,413,780| 20.62
1885 | 447,783,802| 24.82
1890 | 563,693,232| 27.99
1895 | 644,177,076| 29.98
1896 | 664,001,718| 28.92
1897 | 697,213,515| 28.72
1898 | 738,129,608| 29.80
1899 | 801,976,021| 31.63
1900 | 846,041,848| 31.88
1901 | 870,711,044| 33.69
1902 | 888,453,950| 33.95
1903 | 972,195,531| 36.76
1904 | 983,527,562| 35.78
1905 | 1,034,156,604| 37.98
1906 |[H]1,106,478,707| 37.43
-------+----------------+-------
[H] Latest available figures are used in making up totals for 1906.
Note.--The use of coal for the production of power for use in
manufacturing has such an important relation to that industry that the
presentation of this table in this study seems justifiable.
World’s Production of Cotton.
[From Latham, Alexander & Co.’s “Cotton Movement & Fluctuation,” 1902-7.]
===============+==========+==========+==========+==========+==========
Countries. | 1902-3. | 1903-4. | 904-5. | 1905-6. | 1906-7.
---------------+----------+----------+----------+----------+----------
| Bales. | Bales. | Bales. | Bales. | Bales.
United States |10,511,020| 9,841,671|13,420,440|11,048,000|13,346,000
East Indies[I] | 2,737,577| 2,734,400| 2,952,720| 2,983,370| 3,482,000
Egypt | 1,148,700| 1,275,754| 1,244,968| 1,152,516| 1,350,000
Brazil[J] | 329,390| 307,516| 325,928| 476,667| 400,000
---------------+----------+----------+----------+----------+----------
Total |14,726,687| 4,159,341|17,944,056|15,660,553|18,578,000
---------------+----------+----------+----------+----------+----------
[I] Includes India’s exports to Europe, America and Japan, and mill
consumption in India increased or decreased by excess or loss of
stock at Bombay.
[J] Receipts into Europe from Brazil, Smyrna, Peru, West Indies,
etc., and Japan and China cotton used in Japanese mills.
Estimated Number of Cotton Spindles at Work on the Continent of 292
Europe, Sept. 30, 1907.
[From Alfred B. Shepperson’s “Cotton Facts,” December, 1907.]
Russia and Poland 7,000,000
Germany 9,000,000
Austria 3,700,000
France 6,200,000
Spain 2,800,000
Switzerland 1,550,000
Italy 3,000,000
Belgium 1,300,000
Sweden, Norway, etc. 550,000
Holland 420,000
Portugal 210,000
Greece 70,000
----------
Total 35,800,000
Annual Consumption of Cotton in Cotton Mills.
[From Alfred B. Shepperson’s “Cotton Facts,” December, 1907.]
=======+==========+==========+==========+==========+==========+==========
| | | Northern | Southern | Total of |
Season | Great | Continent| States of| States of| United | India.
of | Britain. | Europe. | U. S. | U. S. | States. |
+----------+----------+----------+----------+----------+----------
| In bales of 500 pounds net.
-------+----------+----------+----------+----------+----------+----------
1896-7 | 3,224,000| 4,368,000| 1,771,000| 946,000| 2,717,000| 1,041,000
1897-8 | 3,432,000| 4,628,000| 1,771,000| 1,151,000| 2,922,000| 1,185,000
1898-9 | 3,519,000| 4,784,000| 2,218,000| 1,364,000| 3,582,000| 1,340,000
1899- | 3,334,000| 4,576,000| 2,163,000| 1,524,000| 3,687,000| 1,162,000
1900-1 | 3,269,000| 4,576,000| 1,909,000| 1,526,000| 3,435,000| 1,087,000
1901-2 | 3,253,000| 4,836,000| 1,996,000| 1,912,000| 3,908,000| 1,384,000
1902-3 | 3,185,000| 5,148,000| 1,980,000| 1,910,000| 3,890,000| 1,362,000
1903-4 | 2,977,000| 5,148,000| 1,980,000| 1,795,000| 3,775,000| 1,368,000
1904-5 | 3,572,000| 5,148,000| 2,112,000| 2,063,000| 4,175,000| 1,473,000
1905-6 | 3,766,000| 5,244,000| 2,364,000| 2,239,000| 4,603,000| 1,587,000
1906-7 | 3,915,000| 5,444,000| 2,460,000| 2,362,000| 4,822,000| 1,562,000
-------+----------+----------+----------+----------+----------+----------
World’s Supply and Distribution of Cotton.
[From Latham, Alexander & Co.’s “Cotton Movement & Fluctuation,” 1902-7.]
==========+===========+==================================+
| | Crops. |
| | |
|Visible and+-----------+----------+-----------+
| Invisible | | | |
| Supply at | United | All | Total. |
Year. | beginning | States | Others. | |
| of year. | | | |
+-----------+-----------+----------+-----------+
| Bales of 500 pounds each.
----------+-----------+-----------+----------+-----------+
1884-5 | 1,550,000 | 5,136,000| 2,101,000| 7,237,000|
1885-6 | 1,343,000 | 5,984,000| 2,234,000| 8,218,000|
1886-7 | 1,441,000 | 5,960,000| 2,577,000| 8,537,000|
1887-8 | 1,473,000 | 6,400,000| 2,309,000| 8,709,000|
1888-9 | 1,291,000 | 6,463,000| 2,632,000| 9,095,000|
1889-90 | 1,119,000 | 6,820,000| 2,933,000| 9,753,000|
1890-1 | 1,077,000 | 8,137,000| 3,039,000| 11,176,000|
1891-2 | 1,742,000 | 8,640,000| 3,001,000| 11,641,000|
1892-3 | 2,818,000 | 6,435,000| 3,296,000| 9,731,000|
1893-4 | 2,258,000 | 7,136,000| 3,314,000| 10,450,000|
1894-5 | 2,128,000 | 9,640,000| 2,978,000| 12,618,000|
1895-6 | 3,203,000 | 6,912,000| 3,421,000| 10,333,000|
1896-7 | 1,931,000 | 8,435,868| 3,438,000| 11,873,868|
1897-8 | 1,923,636 | 10,890,000| 3,316,290| 14,206,290|
1898-9 | 3,241,158 | 11,078,000| 3,694,934| 14,772,934|
1899-1900| 3,999,364 | 9,137,000| 3,092,897| 12,229,897|
1900-1 | 2,456,489 | 10,218,000| 3,414,454| 13,632,454|
1901-2 | 2,673,027 | 10,380,380| 4,038,569| 14,413,949|
1902-3 | 2,672,068 | 10,511,020| 4,215,661| 14,726,687|
1903-4 | 2,921,061 | 9,841,671| 4,317,670| 14,159,341|
1904-5 | 2,770,244 | 13,420,440| 4,524,000| 17,944,056|
1905-6 | 5,172,638 | 11,048,000| 4,612,553| 15,660,553|
1906-7 | 4,504,382 | 13,346,000| 5,232,000| 18,578,000|
----------+-----------+-----------+----------+-----------+
==========+============+=====================
| | Balance of Supply
| | End of year.
| Total +----------+----------
| Actual | |
|Consumption.| Visible. |Invisible.
Year. | | |
| | |
+------------+----------+----------
| Bales of 500 pounds each.
----------+------------+----------+----------
1884-5 | 7,444,000 | 984,000| 359,000
1885-6 | 8,120,000 | 968,000| 473,000
1886-7 | 8,505,000 | 999,000| 474,000
1887-8 | 8,891,000 | 772,000| 519,000
1888-9 | 9,267,000 | 682,000| 437,000
1889-90 | 9,795,000 | 846,000| 231,000
1890-1 | 10,511,000 | 1,315,000| 427,000
1891-2 | 10,565,000 | 2,310,000| 508,000
1892-3 | 10,291,000 | 1,903,000| 355,000
1893-4 | 10,580,000 | 1,792,000| 336,000
1894-5 | 11,543,000 | 2,185,000| 1,018,000
1895-6 | 11,605,000 | 1,231,000| 700,000
1896-7 | 11,880,332 | 1,295,636| 628,000
1897-8 | 12,888,768 | 1,905,158| 1,336,000
1898-9 | 14,014,728 | 2,371,364| 1,628,000
1899-1900| 13,772,772 | 1,071,489| 1,385,000
1900-1 | 13,415,916 | 1,549,027| 1,124,000
1901-2 | 14,414,908 | 1,306,068| 1,366,000
1902-3 | 14,477,694 | 1,177,677| 1,743,384
1903-4 | 14,310,158 | 1,085,237| 1,735,007
1904-5 | 15,541,667 | 2,501,469| 2,671,164
1905-6 | 16,328,804 | 1,702,485| 2,801,897
1906-7 | 17,005,640 | 2,215,497| 3,861,245
----------+------------+----------+----------
Stocks of Money in Thirteen Principal Countries of the World in 1873, 293
1896 and 1906.
Relative increase in use of gold, silver and paper money illustrated.
==============================================================
| Stock of Gold. |
Countries. +--------------+--------------+--------------+
| 1873. | 1896. | 1906. |
----------------+--------------+--------------+--------------+
United States | $135,000,000| $696,300,000|$1,593,300,000|
Great Britain | 160,000,000| 584,000,000| 486,700,000|
France | 450,000,000| 772,000,000| 926,400,000|
Germany | 160,200,000| 654,500,000| 1,030,300,000|
Russia | 149,100,000| 586,900,000| 939,400,000|
Italy | 20,000,000| 96,900,000| 215,500,000|
Belgium | 25,000,000| 35,000,000| 31,100,000|
Netherlands | 12,000,000| 21,900,000| 45,900,000|
Austria-Hungary | 35,000,000| 178,500,000| 306,400,000|
Australasia | 50,000,000| 132,100,000| 125,000,000|
Denmark | 4,100,000| 15,400,000| 22,600,000|
Sweden | 1,800,000| 10,600,000| 22,600,000|
Norway | 7,600,000| 7,500,000| 8,300,000|
----------------+--------------+--------------+--------------+
Total | 1,209,800,000| 2,791,600,000| 5,753,500,000|
----------------+--------------+--------------+--------------+
==============================================================
| Stock of Silver. |
Countries. +--------------+--------------+--------------+
| 1873. | 1896. | 1906. |
----------------+--------------+--------------+--------------+
United States | $ 6,150,000| $364,500,000| $698,700,000|
Great Britain | 95,000,000| 121,700,000| 116,800,000|
France | 500,000,000| 443,900,000| 411,100,000|
Germany | 306,235,000| 212,800,000| 219,700,000|
Russia | 18,600,000| 74,200,000| 77,900,000|
Italy | 23,000,000| 45,400,000| 31,700,000|
Belgium | 15,000,000| 57,000,000| 24,700,000|
Netherlands | 37,300,000| 56,100,000| 52,600,000|
Austria-Hungary | 40,000,000| 63,700,000| 105,300,000|
Australasia | 3,000,000| 7,000,000| 10,000,000|
Denmark | 7,500,000| 5,400,000| 6,100,000|
Sweden | 4,300,000| 4,900,000| 7,700,000|
Norway | 1,600,000| 2,000,000| 3,100,000|
----------------+--------------+--------------+--------------+
Total | 1,057,685,000| 1,728,600,000| 1,765,400,000|
----------------+--------------+--------------+--------------+
==============================================================
| Uncovered paper. |
Countries. +--------------+--------------+--------------+
| 1873. | 1896. | 1906. |
----------------+--------------+--------------+--------------+
United States | $749,445,000| $397,000,000| $610,800,000|
Great Britain | 59,800,000| 112,100,000| 116,800,000|
France | 385,300,000| 119,200,000| 269,200,000|
Germany | 90,800,000| 123,800,000| 267,100,000|
Russia | 618,400,000| 467,200,000| No data. |
Italy | 87,800,000| 161,000,000| 150,600,000|
Belgium | 35,100,000| 72,500,000| 125,800,000|
Netherlands | 15,300,000| 37,900,000| 57,800,000|
Austria-Hungary | 265,800,000| 177,600,000| 119,300,000|
Australasia | .......... | 22,500,000| No data. |
Denmark | 6,500,000| 6,400,000| 10,700,000|
Sweden | 6,000,000| 19,000,000| 34,800,000|
Norway | 2,300,000| 3,800,000| 7,000,000|
----------------+--------------+--------------+--------------+
Total | 2,322,545,000| 1,720,000,000| 1,769,900,000|
----------------+--------------+--------------+--------------+
===============================================================
| Total money in countries named.
Countries. +--------------+--------------+----------------
| 1873. | 1896. | 1906.
----------------+--------------+--------------+----------------
United States | $890,595,000|$1,727,800,000| $2,902,800,000
Great Britain | 314,800,000| 817,800,000| 720,300,000
France | 1,335,300,000| 1,335,100,000| 1,606,700,000
Germany | 557,235,000| 991,100,000| 1,517,100,000
Russia | 786,100,000| 1,128,300,000|[K]1,017,300,000
Italy | 130,800,000| 303,300,000| 397,800,000
Belgium | 75,100,000| 164,500,000| 181,600,000
Netherlands | 64,600,000| 115,900,000| 156,300,000
Austria-Hungary | 340,800,000| 419,800,000| 531,000,000
Australasia | [K]53,000,000| 161,600,000| [K]135,000,000
Denmark | 18,100,000| 27,200,000| 39,400,000
Sweden | 12,100,000| 34,500,000| 65,100,000
Norway | 11,500,000| 13,300,000| 18,400,000
----------------+--------------+--------------+----------------
Total | 4,590,030,000| 7,240,200,000| 9,288,800,000
----------------+--------------+--------------+----------------
[K] Exclusive of uncovered paper, for which no data is available.
Note.--The great increase in the use of capital in the manufacturing
industries in recent years seems to justify the presentation of this
table showing the general growth of money in the manufacturing
countries.