157

Year.

1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905

The  facts  in  Table  IV.  shown  as  percentages  of  the  total
for  each  year.

United  States,

Per  Cent.
326
392
36  6
37  6
394
434
45*8
502
534
503
438
539

Germany.

Per  Cent.
334
29  9
321
328
317
311
310
284
265
300
343
28'2

United
Kingdom.

Per  Cent.
340
309
313
29  6
289
25  5
232
214
201
19  7
219
17-9

Total.

Per  Cent.
100
100
100
100
100
100
100
100
100
100
100
100

Example.—In  1890  the  United  Kingdom  produced  33  7%
of  all  the  iron  ore  produced  in  the  three  countries.  In  1905
the  United  Kingdom’s  share  had  fallen  to  17  9%.

Table  V.,  which  converts  the  facts  in
Table  IV.  into  percentages,  shows  even  more
clearly  than  Table  IV.  the  working  of  this
principle  of  compensating  fluctuation.  The
results  are  exceedingly  interesting,  not  only
as  regards  the  matter  with  which  I  am
now  specially  concerned,  but  also  from  the
higher  plane  of  international  production  and
commerce.
Similarly,  I  might  show  coal  production
and  coal  consumption,  but  that  I  do  not
want  to  overburden  this  article  with  tables.