-- 3 
in various cities since July 1924! For March 1923 and 
I August 1914 corresponding data previously collected by the 
British Ministry of Labour have been used. The towns to 
which these statistics refer are: Berlin, Vienna, Prague, Warsaw, 
Paris, Brussels, London, Rome, Madrid, Amsterdam, Stock- 
holm, Oslo, Copenhagen, and Ottawa. The figures, originally 
given in the currencies of the various countries concerned, have 
been converted into gold francs; and the data are then 
expressed as index numbers calculated on the base 1 August 
1914 =100. 
The index numbers of gold wages in most of the occupations 
under review are shown below in the form of a graph? The 
countries have been grouped as follows: (1) those in which no 
severe currency crisis preceded stabilisation (Canada, Sweden, 
Netherlands, Great Britain); (2) those in which stabilisation was 
preceded by a severe currency crisis (Czechoslovakia, Austria, 
Germany); (3) countries where the value of the currency has 
been considerably raised (Denmark, Norway); (4) countries 
where the currency crisis still persists (Belgium, France, 
[taly, Poland, Spain). 
In the cities belonging to the countries in the first group 
(Ottawa, Stockholm, Amsterdam, London) gold wages have 
been considerably above the pre-war level throughout the 
entire period under review. After certain fluctuations in 
1923 and 1924, gold wages in most cases were very stable in 
1925 and the first half of 1926. 
In cities of the second group (Prague, Vienna, Berlin) gold 
wages were in most cases in March 1923 — always in Berlin 
and Vienna — below the pre-war level; in some cases the dif- 
ference was 40 or 50 per cent. From 1923 to 1924 or 1925, a 
very considerable rise took place, followed in 1925 and the first 
half of 1926 by comparative stability. 
A striking fact shown by the diagrams for the third group 
(Copenhagen and Oslo) is the very marked rise in gold wages 
2 -hour 
! Generally speaking, these data He the wage rates of time workers for a 48-hou 
3 = int 
week (see p. 10, observations on this point). _ [ 
? The curves referring to six occupations (carpenters, plumbers, makers, 
labourers in the furniture-making trades, and machine minders an ao Le PE 
ing and allied trades) have been omitted in order to avoid the con 
presence of too many lines, ; : en 
* In interpreting this phenomenon the decreased purchasing power of gold must be 
taken into account.