496 



Transactions. — Miscellaneous. 



Table II. 

 Nominal Values of Special Exports per Head. 



These are the figures usually given ; but, to allow of approxi- 

 mately fair comparisons of period with period to be made, 

 Table III. gives Sauerbeck's index numbers for the several 

 periods, and likewise the values hence derived for the exports 

 per head in the several periods expressed in terms of money 

 of the same value as that of the first period, 1875-79. 



Table III. 

 Special Exports per Head in Terms of the Money of 1875-79. 



It will be noticed from Table II. that the nominal values of 

 the exports indicate a rather chequered course of trade for each 

 country ; but Table III. shows that this is due to the chang- 

 ing value of money, for the general exchange-values indicate 

 continued progress in every case, except that in the case of 

 the United States there was a falling-off in the period of 

 1885-89. Thus, the exports per head for the United Kingdom, 

 instead of being a little less in the last period than in the 

 first, as the nominal values would indicate, were really much 

 greater, and the increase is greater than for any of the other 

 countries. 



