202 president's address. — section g. 



In regard to prices and index-numbers, the Conference affirmed 

 the necessity for the publication at monthly intervals, and that 

 in each country a monthly index- number should be constructed 

 for that country showijig the changes in purchasing power for the 

 country itself and without regard to the regimen appropriate 

 for other parts of the Empire. It was decided that in all cases 

 when the index-number is first issued or is revised, it shomld be 

 accompanied by a specific statement as to the methods employed 

 and the date used, so as to permit of reconstruction by any 

 reader. But th? commodities selected need not — as already in- 

 dicated — be identical for all coimtries. In regard to the mode 

 of calculating the index-numbers, it recommended that "they 

 should be so constructed that their comparison for any two dates 

 should express the proportion of the aggregate expenditure on 

 the selected list of representative commodities, in the quantities 

 selected as appropriate, at the one date, to the aggregate expendi- 

 ture on the same list of commodities, in the same quantities, at 

 the other date." In regard to the method of adjusting index- 

 numbers to provide for changes in the character of national con- 

 sumption, it recommended that "in view of the changing character 

 of the national consumption in many countries, it is desirable to 

 revise, from time to time, say at decennial intervals, the list of 

 commodities and appropriate quantities on which index-numbers 

 are based, and that when such revision takes place the index- 

 numbers should be calculated on the basis of both the old and 

 the new list for the year in which the change occurs, and, if 

 possible, for at least two years preceding the two years following 

 the diange." 



Respecting Labour Statistics, it was thought that they should 

 be compiled for the Empire as a whole, and the Coiiference 

 affirmed the necessity for improved presentation in view of the 

 pressure of modern industrial conditions, and urged that "inquiries 

 should extend not only to the conditions ol labour in industrial 

 establishments, but alsoi to' those of commercial, agricultural, 

 maritime, and other employment." 



In regard to statistics of Finance, it was the opinion of the 

 Confeienoei that the statement showing the Budget and Debt 

 Statistics of the Empire should include national, provincial, muni- 

 cipal, and other budgets, and that in view of the high importance 

 of statistics of income and capital as indices of national welfare, 

 the taxes on income or on estates of deceased persons should be 

 compiled either annually or at suitable intervals, since these 

 throw light both on national wealth and on the distribution of 

 property and income. The Conference recommended that the 

 currency statistics should show the amount of note issues in circu- 

 lation at fixed dates, as well as the stocks and movements of coin 

 and bullion. In regard to capital, it was suggested that special 

 attention should be devoted to the problem of identification and 



