APPENDIX
Table XIV
Interest Rates on 4-6 Months’ Commercial Paper, United Stales, by Quarters,
1890-1927
Computed from Monthly Average Rates Published in the Statistical Bulletin ofThe Standard Statistics Company, Inc., 1929-1930, page 19
Year
InterestPer Cent
Year
InterestPer Cent
Year
InterestPer Cent
Year
InterestPer Cent
1800
5.31
1900
4.70
1910
4.56
1920
6.36
5.00
3.89
4.77
7.23
5.46
4.22
5.45
7.95
7.16
4.73
5.24
7.94
1891
5.36
1901
3.84
1911
3.98
1921
7.74
5.30
3.95
3.66
7.02
5.72
4.56
4.17
6.06
5.18
4.75
4.30
5.30
1892
3.94
1902
4.31
1912
3.95
1922
4.85
3.19
4.49
4.11
4.30
4.06
5.01
5.03
4.03
5.24
5.87
5.88
4.55
1893
5.61
1903
5.22
1913
5.20
1923
4.77
7.05
5.03
5.59
5.05
9.26
5.79
5.95
5.04
4.70
5.84
5.64
5.07
1894
3.25
1904
4.78
1914
4.08
1924
4.75
2.98
3.88
3.82
4.26
3.12
3.89
5.81
3.30
2.80
4.27
5.43
3.32
1895
3.51
1905
3.91
1915
3.66
1925
3.74
3.11
3.91
3.68
3.90
3.50
4.35
3.34
4.06
4.48
5.41
3.11
4.40
1896
5.62
1906
5.13
1916
3.13
1926
4.26
4.69
5.34
3.30
4.02
7.10
6.01
3.69
4.22
5.85
6.27
3.60
4.44
1897
3.23
1907
6.09
1917
3.92
1927
4.00
3.41
5.61
4.70
4.12
3.76
6.26
4.89
3.96
3.70
7.50
5.45
3.96
1898
3.72
1908
5.76
1918
5.72
4.53
4.00
5.89
3.80
3.75
5.94
3.25
4.00
5.94
1899
3.20
1909
3.57
1919
5.25
3.53
3.40
5.43
4.28
3.89
5.39
5.44
5.07
5.59