MIGRATION AND BUSINESS CYCLES 
CHART 41 
Business ConDiTIONS AND EMIGRATION FROM THE UNITED 
Kinegpom: 1870-1913: 
Cycles in Emigration to the United States Compared with Business 
Conditions in the United Kingdom (Fig. A) and the United 
States (Fig. B) 
Deviations from seven-year smoothed moving averages, expressed as 
multiples of their standard deviations 
+2.0 mri TEE Ne 
=r : —o=Emigration e---—-e-Composite Index for, 
Cr ! the United Kingdom 
+/0 1" 7 
ol; eh 
I J 
4 \ \ ye A 
-1.0 Sa Pye ar — 
ZO | 
| 
yo 
22.0 . ew Fo BN 
“YT o——o=Cmigration e--—e=Composité Index for 
/ | theUnited States I 
+10 ~¢ IT ! TT A] = f — 
$ La Bly 2 A 
aR nL LOS A 
.® 8 | \ I 1 2 Wu ; 
[0 —— 5 ; v ' RY y! 
0 Tet Hi . RZ vo 
20pb——0-' 1. — 
_ 1870-18 55 1880-1889 | 1890-18399 1 1900-1909 V9/073) 
«For numerical data see Table 48 and footnote to Chart 40. 
180