Segar. — Statistics respecting Trend of English Trade. 497 



Table IV. is deduced from Table II. It represents the 

 percentages that the exports of each of the other three 

 countries bear for each period to the exports per head of the 

 United Kingdom for the same several pez-iods. The averages of 

 these are also added. The variations due to the changes in 

 the value of money as well as those of population are thus 

 got rid of, and we have a fair way of comparmg the industrial 

 prosperity of the several peoples as far as such prosperity 

 can be measured by the mere exports. 



Table IV. 



The Exports per Head of Population of France, Germany, and the 

 United States expressed as Percentages of those of the United 

 Kingdom. 



Examining these results, and comparing the quinquennial 

 period 1895-99 with that of 1875-79 — twenty-five years pre- 

 viously — we find that m the case of France the exports per 

 head were 62 per cent, in the earlier period and 64 per cent, 

 in the later period of those of England ; in the case of Ger- 

 many the percentages were 53 and 56 respectively ; and in 

 the case of the United States they were 47 and 49. The 

 average percentage of these three countries changed from 54 

 to 56 in the same time. The close approach of the numbers 

 for each nation in two periods separated by twenty years is 

 worthy of remark, and shows that the exports of England, 

 when reckoned per head of population, bore practically the 

 same relation to those of the other countries in the recent 

 period 1895-99 as they did twenty years previously. 



Between the two extreme periods there were many fluc- 

 tuations. In respect to the exports per head, and relatively 

 to the other nations, France was at her worst in the second 

 period, 1880-84 ; and in the two following periods the United 

 States and Germany were at their worst in succession. In 

 the first and last of the five periods considered the exports per 

 head of England were depressed relatively to their average 

 position with respect to those of the other nations. Thus 

 each country has had its turn in the matter of relative depres- 



32— Trans. 



