GREAT BRITAIN, II

Le
ar

253

ine. The changes are in the same direction as those of the gross
barter terms, but less marked. From 1880 to 1900, a less and less
quantity of exports was sent out for a given quantity of imports;
UNITED KINGDOM, 1880-1913.

150

4
i

401

| 3C:

Zu

lu

Oc

Je

my,

J WNT

er  e——1. J
1900 1905 1910 1913

gross barter terms

net barter terms
Vage index

Base *

10(,

or rather, less and less of exports would have been necessary to
procure a given quantity of imports if the only elements in the
country’s international trade had been the exchange of merchandise
imports for merchandise exports. After 1900 the trend is the
other way, becoming less favorable to Great Britain instead of