MIGRATION AND BUSINESS CYCLES 
CHART 40 
INTERNATIONAL COMPARISONS OF CYCLES IN INDICES oF Economic 
ConbpiTioNs: 1870-1913. 
Percentage deviations from seven-year smoothed mowing averages, ex- 
pressed as multiples of their standard deviations 
+2.0 r 
| | 
Jnited States 
Fa 
5 kL. -1 
‘20 
& // 
Ww i KX 
- 2d 
+20 
A 
Toi 
~2.0 
ev 
S 1420 
-/0'% 
i i : +10 
-2.0 ~ / (Soren, El oe 
2. B 9 
> “OV 
| -10 
i 
=i -2.0 
o 1870-1679 | 1680-1889 | 1850-1899 | 1900-1909 [i073 
«Numerical data in Table 48, except for the United States index, which is plotted 
from computations made by W. F. Ogburn and Dorothy S. Thomas, published in the 
Journal of the American Statistical Association, September, 1922, p. 327. 
174