Stock-Exchange prices and the business curve, 1898-1909
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Stock-Exchange prices(Disconto- Kommandit, Harpener, Bochumer and Allge- meine Elektrizitäts average at end of month). |
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Price of pig-iron (quarterly average of Hamburg quotations for British pig-iron (Glasgow)). |
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Labour market (average quarterly influx of workers on the German labour ex- changes; to facilitate comparison, the labour market curve has been inverted, with the max- imum shown at the bottom). |
The diagram is from Alfred Lansburgh’s article “The Stock Exchange’s Power of Divination” (Die Bank, 1910, I, p. 222).
Can be used to illustrate actual fluctuations and general trends during a complete cycle in modern times (1900 crisis, 1907 depression, 1898-99 boom, etc.).
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