of MIGRATION AND BUSINESS CYCLES 
change in immigration, similar in direction at least. In the central 
part of the period, the agreement with fluctuations in pig iron 
appears to be best when the immigration ending June 30th is 
compared with pig iron production for the twelve months ending 
December 31st of the preceding year; but prior to 1889 and in 
TABLE 52.— ESTIMATED VALUE OF LEADING CRroPs IN ITALY: 1884-1913» 
Unit: first column = one standard deviation; others, = one million lire 
TOTAL OF THE FIVE] 0 
YEAR CROPS WHEAT Maize WINE RICE on Li 
CYCLES VALUE | 
1884 —0.96 2,256.4 823.5 S51. 1 684.0 126.2 271.6 
1885 —0.33 2,421.0 771.8 309.7 946.9 124.0 268.6 
1886 -+1.81 | 2,958.8 791.8 319.0 181,376.2 134.5 337.3 
1887 | +0.02 2,494.2 837.3 | 286.1 1,036.0 116.0 218.8 
1888 —0.64 2,396.7 731.4 276.5 985.4 80.6 322.3 
1889 —1.46 2,130.5 770.0 322.7 739.7 131.8 166.3 
1800 | 41.10 2,758.1 917.2 294.8 1,119.4 93.5 333.2 
1891 42.19 2,931.2 1,071.9 294.2 1,183.7 110.1 271.3 
1892 —0.39 2,188.7 859.9 283.7 781.4 | 104.4 159.3 
1893 —0.24 2,254.7 872.3 283.5 739.8 67.9 291.2 
1894 —1.68 1,778.8 700.2 211.7 593.8 72.8 200.3 
1895 —0.66 1,991.7 732.8 277.2 630.4 77.8 273.5 
1896 -+0.51 | 2,822.3 981.7 294.0 829.4 53.7 163.5 
1897 —1.43 1,903.5 677.1 250.3 708.8 91.8 175.0 
1898 40.48 2,637.2 1,111.5 333.4 856.4 92.9 | 243.0 
1899 —0.44 2474.1 1,054.5 348.2 877.5 99.9 94.0 
1900 +0.14 2,788.7 1,030.6 368.3 1,044.3 142.4 203.1 
1901 - 41.51 097.5 1,292.3 433.3 1,192.9 | 133.4 . 345.6 
1902 —0.73 2,709.9 1,020.9 324.4 1,036.0 133.8 194.8 
1903 +0.82 3,802.2 1,338.3 406.4 1,053.0 152.4 352.1 
1904 —0.41 2,998.3 1,220.3 413.5 1,022.0 152.2 190.3 
1905 —0.19 3,024.0 1,254.4 444 2 790.8 135.4 399.2 
1906 | —0.86 2,919.8 1,330.4 424.8 893.5 ' 145.8 125.3 
1907 | +1.24 3,637.6 | 1,382.1 1 404.2 1,347.6 164.9 338.8 
1908 —0.85 | 3,048 .4 ,339.0 438.2 1,035.0 150.8 85.4 
1909 +0.43 3,694.1 1,596.9 479.2 1,050.1 141.8 426.1 
1910 —1.67 3,018.0 1,191.1 484.5 966.7 135.0 | 240.7 
1911 +1.17 4262.3 1,455.1 470.0 1,791.5 153.3 392.4 
1912 +0.43 1078.6 1,409.0 520.1 1,853.2 147.2 149.1 
1913 +0.91 1323.1 1,705.0 516.2 1,671.7 179.3 250.9 
aThe “‘cycles’’ are deviations from a seven-year moving average of the estimated total value of the five 
crops. The values of the separate crops were computed by multiplying annual production by the average 
export prices of the given commodity in the year in question, except that for wheat the average prices in 
the markets of the Kingdom were used. Sources: Minister of Agriculture (Italy), Annuario Statistico 
Sn to 1914; and Year Book of the International Institute of Agriculture—Statistical Bureau 
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