Page 111 - clra62_0019-(GIPE)
P. 111

104        ECONOMIC  INQUIRIES  AND  STUDIES
                  these  figures  show  is  between  1855  and 1865,  53  per
                  cent.;  between  1865  and  1875,  35  per  cent.;  and  be-
                  tween  1875  and 1885,  20  per cent. only.  The rate of
                  growth in  the last  ten  years  is  much  less  than in the
                  twenty years just before.  The percentages here, it will
                  be observed,  are higher than in the case of the income
                  tax (!.ssessments.  The increase in  the last ten years in
                  particular is  20 per cent. as compared with an increase
                  of  10  per  cent.  only  in  the  income  tax  assessments.
                  But the direction of the movement is in both cas~ the
                  same.
                     I  need  hardly  say,  moreover, that  coal  production
                  has  usually  been  considered  a  good  test  of  general
                  prosperity.  Coal  is  specially  an  instrumental  article,
                  the fuel  of  the  machines  by which  our  production is
                  carried  on.  Whatever  the  explanation  may  be,  we
                  have  now, therefore, to  take  account  of the  fact  that
                  the rate of increase of the  production of coal has been
                  less in the last ten  years  than in the twenty years just
                  before.
                    Then with  regard  to  pig-iron, which  is  also  an  in-
                  strumental article,  the  raw material of that iron which
                  goes -to  the  making  of the  machines  of industry, the
                  table -shows the following particulars of production:


                                   Million Tons.,            Million Tons.
                      1855.      .  .•  3. 2     1875.          6·4
                      1865.      .  .  4.8       1885.        •  7-4

                  And  the  rate  of growth  which  these  figures  show  is
                  between  1855  and 1865,  50  per  cent.;  between  1865
                  and 1875,  33  per cent.;  and  between  1875  and  1885,
                  16 per cent. only.  Whatever  the explanation may be,
                  we  have  thus  to  take  account of a diminution  of the
                  rate  of increase  in  the  production  of pig-iron,  much
                  resembling  the  diminution  in  the  rate  of increase of
                  the production of coal.
                     At the same time the miscellaneous mineral produc-
                  tion  of the  United  Kingdom  has  mostly  diminished
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