OPPORTUNITIES FOR IMMIGRANTS : 
close association between pig iron and industrial activity, we have 
made frequent use of pig iron production in comparisons with 
migratory fluctuations in this and other countries, partly because 
direct employment figures are not available and partly because it is 
TABLE 13-A.—INDICES OF EcoNoMic CONDITIONS, BY FISCAL YEARS 
ENDING JUNE 30TH: 1870-1923 
weal DAILY "  Damy 
MERCHAN- PizaRINGS PIG iron) | MERCHAN- Preis 3 | PIG IRON 
YEAR |PISE IMPORTS SA PRODUC- _ |DISE IMPORTS» USI , PRODUC- 
A | (MILLION Pane TION® (MILLION (THaND i TION 
' DOLLARS) \ 100)> (THOUS- DOLLARS) ° 100)» ~ (TmOUS-’ 
AND TONS) AND TONS) 
1870 436.0 TE 1900 849.9 102.9 39.9 
1871 520.2 fe mb isos 823 2 102.8 37.1 
1872 626.6 _ eee. 11902 903.3 108.4 45 4 
1873 642.1 es -.. . 1903 1025.7 106.2 50.0 
1874 567.4 =. = S1902 18 "9911 102.7 43.6 
1875 533.0 LEE ele [1905 a 1117.5 104.9 ~~ 52.6 
1876 460.7 96.9 .- «+ 1908 1226.6 111.9 | 65.5 
1877 451.3 ‘' 96.1 +. B1907 1434.4 112.2 70.6 
1878 437.1. 50 "01.4 «... 11908 | 1194.3 99.0 51.4 
1879 445.8 90.4 >. - » 1909 1311.9 98.0 | 54.3 
1880 668.0 102.8 «++ T1910 1556.9 103.9 80.3 
1881 642.7 © 107.9 | olen 1272 1006 64.6 
1882 724.6 | 114.4 1012 1653.3 100.4 70.4 
1883 723.2 105.6 ee. 7913 | 1813.0 100.8 87.3 
1884 667.7 98.0 .-. 1014 1893.9 96.6 73.3 
1885 577.5 83.8 9.9 (1915! 1674.2 88.0 62.3 
1886 635.4 92.1 11.9 [1916 2197.9 | 97.9 101.1 
1887 692.3 | 103.3 | 15.6 [1917 2659.4 108.2 106.0 
1888 724.0 101.7 | 15.8 {1918 2045.7 105.6 | 101.6 
1889 1 745.1 ! 103.4 18.1 {1919 3095.7 103.5 100.1 
1890 | 789.3 110.1 21.8 [1990 523K * 107 =x 89.4 
1891 844.9 | 111.2 20.7 0d 365 ‘ 75.8 
1892 827 4 111.7 21.4 2608. 3 2 52.6 
1893 866.4 | 115.0 23.2 1068 ~ 15 97.8 
1894 655.0 86.9 13.6 
1895 732.0 89.3 21.7 
1896 779.7 92.3 or.2 
1897 764.7 82.7 21.3 
1898 616.0 91.7 30.0 
1899 697.1 98.4 32.5 
aU. S. Bureau of Foreign and Domestic Commerce, Monthly Summary of Commerce and Finance. 
bAn average of monthly figures of an index of business conditions based upon clearings outside New 
York, corrected for trend, compiled by Mr. Carl Snyder, Federal Reserve Bank, New York, Journal of the 
American Statistical Associalion, September, 1924, p. 335. 
*Annual averages computed from monthly data published in the Iron Age, and based prior to October, 
1902, upon the number of furnaces in blast and thereafter upon monthly statistics of pig iron produced. 
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