Gold And Prices Since 1873
Gold And Prices Since 1873
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To quickly assess the difficulty of the text, read a short excerpt:
The articles selected are as follows : — Coffee, sugar, tea, tobacco, wheat, butcher's meat, Surat cotton, raw silk, flax and hemp, wool, indigo, oils, timber, tallow, leather, copper, iron, lead, tin, Pemambuco cotton, cotton yam, cotton cloth.
While probably the best known of all tables, the figures of the Economist are open to serious objections: (1) As the editors an- nounce, the table "does not, of course, present a full and accurate representation of the variations of prices, inasmuch as ...it cannot allow for the relative importance of the different articles." Wheat, for example, counts for no more than indigo. (2) The quotations on a given day do not show the state of prices for the year. (3) The articles selected are too few in number to insure a proper view of prices in general. (4) The commodities are injudiciously chosen.
There are four articles of cotton, causing serious distortion in the years 1862-67, and a disproportionate number of so-called raw ma- terials. The continuity of the Economist table since 1850 (inter- Digitized by Google u APPENDIX rupted only for the years 1852, 1854-56) explains the importance ascribed to it.
What to read after Gold And Prices Since 1873?
You can find similar books in the "Read Also" column, or choose other free books by J Laurence James Laurence Laughlin to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The articles selected are as follows : — Coffee, sugar, tea, tobacco, wheat, butcher's meat, Surat cotton, raw silk, flax and hemp, wool, indigo, oils, timber, tallow, leather, copper, iron, lead, tin, Pemambuco cotton, cotton yam, cotton cloth.
While probably the best known of all tables, the figures of the Economist are open to serious objections: (1) As the editors an- nounce, the table "does not, of course, present a full and accurate representation of the variations of prices, inasmuch as ...it cannot allow for the relative importance of the different articles." Wheat, for example, counts for no more than indigo. (2) The quotations on a given day do not show the state of prices for the year. (3) The articles selected are too few in number to insure a proper view of prices in general. (4) The commodities are injudiciously chosen.
There are four articles of cotton, causing serious distortion in the years 1862-67, and a disproportionate number of so-called raw ma- terials. The continuity of the Economist table since 1850 (inter- Digitized by Google u APPENDIX rupted only for the years 1852, 1854-56) explains the importance ascribed to it.
What to read after Gold And Prices Since 1873?
You can find similar books in the "Read Also" column, or choose other free books by J Laurence James Laurence Laughlin to read onlineMoreLess
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