National Republican., 1877-09-19
THE IMPORTANCE OF STATISTICS

Accurate statistical information consti-
tutcs the only proper basis for u system of
sound political economy. Hence every
civilized nation should make the most am.
pie provisions for collecting and arrnr"iug
facts in relation to its physical social po-
ltical, financial, intellectual and moral
condition. Not only should every country
have correct information rs to its own con.
dition and resources but should likewise
have all the rurwledge wilt can be OBJ
tanned as TO Tia ..n.c class oI itcts relating
to other nations In order to leuisla,c
wisely upon many subjects statesmen need
just rs much accurate information in regard
TO foreign States rs in regard to their own
country.
Important as this science of statistics iS
II Is yet in its infancy Although more than
four hundred years have elapsed since the
first Venetian works were published rclnt-
ing to the internal affairs of different en-
pircs, theiI monetary systems, finances and
public debts, the science has not made such
progress as its intrinsic importance leads
the hopeful student to expect who has
never investigated the subject. The litera-
ture relating to this topic is very volumin-
Gus especially in the Italian, German and
French languages. In the English language
the works Of J. X. MCCoLLCCH and OF .JuHN
"t Ntll hUOWH anu justly
teemed for the amount of accurate and val
liable stats .ic. information they contain.
In our own country the National Govern
mcnt has recently given this subject n great
deal Of intelligent attention, rs is shown by
the recent publications of the Treasury
Department, which constitute truly valua-
BILE contributions to the literature of sta
tistics.
Although much progress has lately been
made in the collection of the in, aluable
data for Legislation which Trustworthy sta
tistics contain, much yet remains to be done.
Many OF the works relating to the subject
are fragmentary, unofficial and contrdic-
tory. Certainty is the great desideratum in
all the investigations in which references
are made to statistics for the purpose of
drawing conclusions from them. No one
who has not spent weary hours in the effort
to reconcile the conflicting statements
Of statistical authorities can fully appreciate
the difficulties which perplex the painstak-
ing and conscientious student of political
economy.
Instances Of the discrepancies and con-
flicts which meet inquircrs Mt almost every
step might lie indefinitely multiplied. 1t
will be sufficient for our purpose to cite n
few, which we find in the address recently
delivered by Mr.. GRoEsBECK before the
bankers convention in the city of New
York. In speaking of the total amount OF
gold produced in the year 1915 he gives the
following figures:
Amount according To the English tables $50 so 90
Amount according TO the United states
Amount according to the French tables. 6lm0OD
Thus it will lie seen that the difference
between the English and American tables
is S,JOO,OOO, and between the English and
the French ls.5OO,OO0 In the same paa-
graph Of Mr.. GROEsBECK's speech he gives
q statement made by DR. LINDERMAN, di-
rector Of the mint, which places the total
production of gold in the United States,
from 1s45 TO 1875, ut 81 ,S23, 1S6,T69. He
then cites q statement made by the chief OF
the Bureau of Statistics, which gives the
amount of gold produced in this country
from 1sia to 1875 at Sl.350, ,300,O 900. Thus,
although the time covered by the latter
statement is four years shorter than that
embraced by the first, yet the amount is
made greater by the sum of Sli,5l3,23l
Such discrepancies rs these are calculated
TO destroy all confidence in the accuracy ol
statistics. Tens OF millions of dollars are
not such triiles that they can be regarded
rs of no consequence in making up the data
upon which arguments can bc safely founded
for or against the adoption of any mrticu-
lar financial policy. Such statistics have
too much the appearance of being the re-
suit of guess work. instead of being com
piled from the records o. the actual trans
actions OF men. This business in which
people should stick to thc facts. The prac-
tice of compiling statistics based upon csti-
mates is exceedingly unsnle, and tends to
destroy their value entirely. This science
is one with which imagination should have
nothing whatever to do, nor should preiu-
dice or prc,onccivcd opinions he allowed to
corrupt the great sources of Legislative
knowledge by means of incorrect and par
tial statements of fact.
It is very Important therefore, that the
accuracy and reliability of all statistics
should he thoroughly and critically scru-
tinizcd The sources from which they are
derived should in all cases be clearly in
dictated, so that the weight which should
be given to them may be determined by
reference To the original authorities. NJ
statement which cannot he thus verified j.
entitled TO any weight. The application oi
Mis- rule would sweep away much of the
rubbish with which speeches and official re-
ports have hitherto been encountered
The silver question, for example, turns al
most entirely upon questions OF ihct which
snn only he satisfactorily settled by statis
tcal information. 1t is to be hoped, there
fore. that in future discussions of that sub
feet great care may be taken upon boil
sideS to base arguments only upon fact
which are well authenticated.
THE ERA OF PEACE