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in various securities of one country. For the 
net result of this investigation is to show 
that whereas frequent and important trade 
fluctuations occur in various parts of the 
world, the world itself is practically immune 
from such fluctuations. 
John Holt Schooling. 
(Author of The British Trade Year Book.) 
Note.—Table VI., Appendix (see next page), gives the 
facts for each year, 1890-1904, that will enable any reader 
to check the accuracy of the results shown in Statements A 
to G, and in Tables I. to III. Tables IV. and V. contain 
the original facts to which they relate. And Table VI. is 
a much condensed summary of the World’s Export Trade.