157 
Year. 
1894 
1895 
1896 
1897 
1898 
1899 
1900 
1901 
1902 
1903 
1904 
1905 
The facts in Table IV. shown as percentages of the total 
for each year. 
United States, 
Per Cent. 
326 
392 
36 6 
37 6 
394 
434 
45*8 
502 
534 
503 
438 
539 
Germany. 
Per Cent. 
334 
29 9 
321 
328 
317 
311 
310 
284 
265 
300 
343 
28'2 
United 
Kingdom. 
Per Cent. 
340 
309 
313 
29 6 
289 
25 5 
232 
214 
201 
19 7 
219 
17-9 
Total. 
Per Cent. 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
Example.—In 1890 the United Kingdom produced 33 7% 
of all the iron ore produced in the three countries. In 1905 
the United Kingdom’s share had fallen to 17 9%. 
Table V., which converts the facts in 
Table IV. into percentages, shows even more 
clearly than Table IV. the working of this 
principle of compensating fluctuation. The 
results are exceedingly interesting, not only 
as regards the matter with which I am 
now specially concerned, but also from the 
higher plane of international production and 
commerce. 
Similarly, I might show coal production 
and coal consumption, but that I do not 
want to overburden this article with tables.