: MIGRATION AND BUSINESS CYCLES 
a decrease. Thus, in 1881, 1882, 1887, 1888, 1903, 1910, and 1913, 
immigration from all these countries shows an increase, and in 1897 
and 1908 a decrease. Also, in the depression of 1885 and likewise in 
1889, immigration from all the selected countries but Russia de- 
clined; in 1893, a decline from all countries but Italy and Greece 
occurred, and from all but Greece in 1894. With the exception of 
the inflow from Greece, all these immigrant streams rose in 1899, 
and all rose in 1902 but that from Ireland. The tendency to uni- 
formity of movement may be summarized by noting that in twenty- 
one of the thirty-four years under consideration three-fourths or 
more of the curves show changes in the same direction. It is also 
noteworthy that in sixteen of these twenty-one years, an increase 
in immigration is preceded, to use a typical index, by an increase in 
pig iron production in the United States, or a decrease in immigration 
by a decrease in pig iron production, in the calendar year ending six 
months prior to the close of the given immigration year. 
In the post-war years from 1920 to 1924, inclusive, which are 
not shown on Charts 32 and 33, the conformity in the direction of 
year-to-year change was even more uniform, all the selected coun- 
tries showing a movement in the same direction, with the exception 
of Russia in 1920, Germany and Austria in 1922, Greece in 1923, and 
Russia and Austria-Hungary in 1924. 
Differences in Degree. 
It is not, of course, to be inferred that year-to-year changes in 
the number of immigrants, even when similar in direction for many 
countries, are necessarily closely similar in degree. For example, 
taking the severe depression of 1908 as the basis of comparison, the 
sharpest decline among the countries which contributed one hun- 
dred thousand or more immigrants in the year ending June 30, 1907, 
is found in the immigration from Hungary and Italy, countries 
from which immigration had been rapidly increasing. In terms of 
percentage decline in the year ending June 30, 1908, from the number 
for the preceding year, the declines were as follows: United King- 
dom, 18 per cent; Russia, 40; Austria, 43; Italy, 55; and Hungary, 
56. 
Proportion to Total Immigration. 
Further indication of variances in the fluctuations of immigration 
from the several countries can be obtained from Charts 34 and 35, 
which portray the changes in the ratio of immigration from the 
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