APPENDIX
Table II
New York Rates of Interest and Wholesale Price Index, 1866-1927
Year
Interest RatesMarket
Wholesale
Price
Index
(1913 = 100)
Year
Interest RatesMarket
Wholesale
Price
Index
(1913 = 100)
60-90
day
paper
4-6
month
paper
60-90
day
paper
4-6
month
paper
1866
6.8
168
1900
4.4
5.7
81
1867
8.2
151
1901
4.3
5.4
79
1868
7.7
142
1902
4.9
5.8
84
1869
9.6
135
1903
5.5
6.2
86
1904
4.2
5.1
86
1870
7.0
125
1905
4.4
5.2
86
1871
6.8
119
1906
5.7
6.3
89
1872
8.9
122
1907
6.4
6.7
94
1873
10.1
121
1908
4.3
5.0
90
1874
6.0
117
1909
4.0
4.7
97
1875
5.5
112
1876
5.2
104
1910
5.0
5.7
101
1877
5.2
97
1911
4.0
4.8
93
1878
4.8
89
1912
4.7
5.4
99
1879
5.1
85
1913
5.6
6.2
100
1914
4.8
5.5
98
1880
5.2
94
1915
3.5
4.0
101
1881
5.2
93
1916
3.4
3.8
127
1882
5.7
95
1917
4.7
5.1
177
1883
5.6
93
1918
5.9
6.0
194
1884
5.2
87
1919
5.4
5.6
206
1885
4.1
82
1886
4.8
81
1920
7.4
7.5
226
1887
5.8
81
1921
6.5
6.8
147
1888
4.9
83
1922
4.4
4.7
149
1889
4.9
83
1923
5.0
154
1924
3.9
150
1890
5.7
6.9
81
1925
4.0
159
1891
5.4
6.5
80
1926
4.2
151
1892
4.1
5.4
75
1927
4.0
147
1893
6.6
7.6
77
1894
3.0
5.2
69
1895
3.7
5.8
70
1896
5.8
7.0
67
1897
3.5
4.7
67
1898
3.8
5.3
70
1899
4.2
5.5
75
Sources:
The market rates of interest:
Prime two-name 60-90 day commercial paper rates;
Review of Economic Statistics, January, 1923, p. 28.
Prime two-name 4-6 month commercial paper rates;
1890-1918: Review of Economic Statistics, January, 1919, p. 95.
1919-1922: Review of Economic Statistics, June, 1923, p. 132.
1923-1927: The Survey of Current Business, February, 1928, p. 127.
Wholesale Price Index (1913 = 100):
United States Bureau of Labor Statistics, Index Numbers of Wholesale Prices on aPre-War Base, 1890-1927; also Monthly Labor Review, February, 1927, p. 167.
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