MIGRATION AND BUSINESS CYCLES 
In the quarter century from 1900 to 1924, there have been subs- 
tantial fluctuations in the relative volume of migration, even if the 
war period is excluded. The maximum was reached in 1907, just 
before the depression of 1907-1908, with an annual immigration 
equivalent to 1.7 per cent of the population. 
The barriers created by war conditions checked immigration to 
such an extent that it dropped to a small fraction of its former 
volume, reaching low ebb in the year ending June 1918, with two 
TABLE 10.—RATIO OF GROSS AND NET ALIEN ARRIVALS TO POPULATION 
1900-1924= 
ALIEN ARRIVALS 
YEAR ‘ 2 
ENDING PoruLaTIiON® RATIO TO POPULATION 
June 30 (THOUSANDS THOUSANDS (PER CENT) 
Gross? | NET Grosse | NET» 
1900 75,891 474 308 0.63 0.41 
1901 76,714 518 327 0.68 0.43 
1902 77,933 679 475 0.87 0.61 
1903 79,385 885 635 HE : 0.80 
1904 80,852 841 449 1.04 0.56 
1905 82,326 1,067 662 1.30 0.80 
1906 84,078 | 1,166 825 1.39 . 0.98 
1907 86,153 1 1,438 1.021 1.67 1.19 
1908 88,001 925 | 210 1.05 0.24 
1909 89,357 944 7 544 1.06 0.61 
1910 91,530 | 1,198 818 1.31 0.89 
1911 93,165 1,030 512 1.11 0.55 
1912 94458 !' 1,017 402 1.08 0.43 
1913 06,144 | 1,427 815 1.48 0.85 
1914 98.213 1.403 769 1.43 0.78 
1915 99,710 434 50 0.44 0.05 
1916 101,055 | 367 126 0.36 0.12 
1917 102,590 363 216 G.35 0.21 
1918 103,852 212 19 0.20 0.02 
1919 104.524 237 21 0.23 0.02 
1920 105,711 622 194 0.59 0.18 
1921 107,412 978 552 0.91 0.51 
1922 109,135 433 87 0.40 0.08 
1923 110,688 673 473 0.61 0.43 
1924 112,684 879 663 0.78 0.59 
i" _ 8Gross = Alien immigrants and nonimmigrants; net = gross arrivals less alien emigrants and oe 
vin statistics were not compiled prior to July 1, 1907, the number of departing aliens in the 
earlier years is estimated from the statistics of departing steerage passengers, by assuming that the ratio 
between departing aliens and departing steerage passengers which obtained for the period from July 1, 1907, 
to June 30, 1914, is applicable to the period from July 1, 1899, to June 30, 1907. ) 
bThese population estimates are for January lst, and were prepared by Dr. W. I. King, of the 
staff of the National Bureau of Economic Research. 
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