Cycles of Prosperity And Depression in the United States Great Britain And Germ

Cover Cycles of Prosperity And Depression in the United States Great Britain And Germ
Cycles of Prosperity And Depression in the United States Great Britain And Germ
Alvin H Alvin Harvey Hansen
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From this chart it is evident that there is very close correlation between the Amer- ican and British composites. For the two years 1902 and 1903 there appears to be little or no similarity between the German composite and the other two curves. For the rest of the period the correspondence is quite close. The secular trends of the three curves have been eliminated by the method of moments.
D. Comparison of Bonds of the Three Countries At this point it may be of interest to add a comparison of B
...ritish and German consols and some American security of equal grade. Mitchell 3 shows clearly that we have no govern- ment security which can be fairly compared with European government securities, and he used in place of United States securities a railroad bond which meets the requirements fairly well, viz. , the bonds of the West Shore Railroad. Chart 8 shows the comparison of the relative prices of the English 2^4 per cent consol, the Prussian 2> l / 2 per cent consol and the bonds of the West Shore Railroad.

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