MIGRATION AND BUSINESS CYCLES 
Marked Seasonal Variation. 
An examination of the quarterly and monthly data on immigra- 
tion reveals a marked, and, on the whole, a regular seasonal varia- 
tion. This is clearly evidenced by Chart 2. The upper section of 
CHART 2 
THE MARKED SEASONAL MOVEMENT IN IMMIGRATION: 1885-1924 
Ratio Scale 
r= - [oa IMMIGRANTS BY QUARTERS’] vill oF 
200000} Lr FW y - 
XV 1a fic) 1 No A 
100,000} - B- he 
50,000 | ’ 
] 
zacol dt Tod EF TO 0 7 on iv 
MALE IMMIGRANTS BY MONTHS? 
100,000} 
t 
50,00: 
10,00¢ i 
5.000 
Co 
3,000 IT AD EEE EC = 
sNumerical data in Appendix Table I. 
vNumerical data in Appendix Table II. 
this chart presents the quarterly data for 1885 to 1904 (calendar 
years) showing invariably a relatively large immigration in the 
second quarter comprising April, May, and June. In the lower 
section of the chart, covering the period 1905 to 1924 by months, a 
similar marked seasonal variation appears prior to the Great War. 
During and immediately after the war, the seasonal is somewhat 
distorted and subordinated. After 1921, the influence of the per 
centum limit law, permitting twenty per cent of the admissible 
quota to enter in any one month, beginning in July, has caused the 
326