Page:Walter Renton Ingalls - Current Economic Affairs (1924).pdf/52

38 {| class="table horizborder cr"
 * +—Continued
 * - class="header"
 * rowspan=2 | Year
 * colspan=4 | Consumers’ goods
 * colspan=3 | Construction
 * rowspan=2 | Most probable composite
 * - class="header"
 * NBER
 * BL
 * FRB
 * NICB
 * Ab
 * EN
 * F
 * 1913
 * 100.0
 * 100.0
 * 100
 * 100
 * 100
 * 100
 * 1914
 * 102.4
 * 103.0
 * 101
 * 100
 * 100
 * 93
 * 91
 * 100
 * 1915
 * 101.5
 * 105.1
 * 102
 * 101
 * &numsp;98
 * 101
 * 101
 * 1916
 * 111.0
 * 118.3
 * 119
 * 109
 * 137
 * 132
 * 125
 * 1917
 * 132.0
 * 142.4
 * 163
 * 131
 * 189
 * 153
 * 150
 * 1918
 * 154.0
 * 174.4
 * 191
 * 159
 * 203
 * 155
 * 165
 * 1919
 * 188.3
 * 211
 * 172
 * 208
 * 163
 * 195
 * 1920
 * 208.5
 * 231
 * 198
 * 239
 * 210
 * 200
 * 1921
 * 177.3
 * 159
 * 167
 * 179
 * 202
 * 177
 * 170
 * 1922
 * 167.3
 * 151
 * 157
 * 170
 * 177
 * 160
 * 170
 * }
 * 200
 * 1921
 * 177.3
 * 159
 * 167
 * 179
 * 202
 * 177
 * 170
 * 1922
 * 167.3
 * 151
 * 157
 * 170
 * 177
 * 160
 * 170
 * }
 * 177
 * 160
 * 170
 * }

service in terms of quantity and the expression thereof in terms of dollars. There is no way of determining this highly necessary factor by any arithmetical or logical process. My method has been the examination of a large number of indicia, which appear in an accompanying table, and the exercise of empirical judgment as to what appears to be the most probable. Obviously, there is the possibility of more or less error in this. Yet, I do not think it can be very material, inasmuch as the estimates of the national income over a long series of years by my rough method, which involve these