of cases whereby we may arrive at such figures, but we are 
provided with very fairly comprehensive and accurate pro- 
duction estimates, and in all cases where physical volume of 
production in 1923 was available such figures have been used. 
In a number of cases production figures are impossible, and 
therefore volume of imports of the commodity in question 
has been used, as for instance, raw cotton, rubber, petroleum, 
etc. On the whole the results are satisfactory, it being 
necessary only in a very few instances to make an approxima- 
tion. The most difficult of all weights to assign are notoriously 
those applying to animals and meat products; and also 
unfortunately, owing to the complexity of the industry, the 
iron and steel groups. Others offer no very great difficulties, 
and indeed can be calculated with a large degree of accuracy. 
THE ACTUAL RESULTS ATTAINED 
The accompanying chart and table of final index numbers 
exhibit very graphically the results attained. It might very 
well be remarked that the results differ hardly at all from 
those already attained by other compilers. If the index 
numbers calculated by the Bureau of Statistics, Michell, the 
Federal Reserve Board and the old index of The Canadian 
Bank of Commerce were all plotted on the same chart, the 
observer would find little to choose between them, at least on 
casual inspection. 
Of course that really means no more than that they have 
all been compiled with care and substantial accuracy, and that 
they all demonstrate beyond argument the general trend of 
prices during the last decade or so. On more detailed inspec- 
tion differences would be found and methods of calculation 
might very possibly be the subject of criticism. In the last 
analysis it may be said that the course of prices in Canada 
is now known and has been measured with very fair accuracy 
for a number of years. The following little comparison may 
be of some interest, in showing the movements of four Can- 
adian index numbers: ] #1 p 
anuary, ay, Percentage 
Index Number 1919" 1920 Increase 
Bureau of Statistics..... 205 257 25.3 
Federal Reserve Board.. 196 279 42.3 
Michell... sini ovenwe 223 270 21.0 
The Canadian Bank of 
Commerce (new)..... 133 183 37.6 
It will be seen from the above that the violence, if such a 
term may be used, of the rise as measured by the four index 
0