INFLUENCE OF ECONOMIC CONDITIONS 18
CHART 43
Business CoNDITIONS AND EMIGRATION FROM GERMANY: 1870-1913
Cycles in Emigration to the United States Compared with Business:
Conditions in Germany (Fig. A) and the United States (Fig. B)
Percentage deviations from smoothed seven-year moving averages,
expressed as multiples of their standard deviations
_ Fa A
Ells —ofmi® 2 es Composite inc;
2 for German
E.G
=O
é
~20
AE bob
fi ' —oEmigration.  e--e Composite Index
| A for the United States.
+10} yrs CL —— ~
0 R Bb ood ] / y oF
§ ° ¢ 4 3 7 i 7 i iT Sal
LOS i / Vs
2 AV | Zi \ 2 . “=4
 7 Lia i Lo ; ; I=]
 ‘
-2.0 1 eS
| 1870-1879 | 1880-1889 | 1890-1899 | 1900-7509 19/073]
»For numerical data see Table 48 and footnote to Chart 40.
changes in the United States, or, as in 1886, 1904, and 1913, become
evident in the year following. When we examine the periods in
which the cyclical movements in the two countries are most conflicting,
 we find that in 1892 improving business conditions in the

39
4