The Washington herald., 1921-08-14
SURVEY OF BUSINESS
NEW GOVERNMENT AID
Application of Index Numbers to Wide
Variety of Items Provides Business Barometer.
tBx The w..h,nstea Herald Econesaist.l


The Survey of Current Business.
the FIRST number Of which has Just
been issued by the Department OF
Commerce. marks q new step In
government statistical work. The
wide variety Of the industries ana
business indicators included makes
the bulletin of peculiar interest 70
those who wish to measure the
trend of the times.
Through the census the Federal
government began to measure the
nations progress in certain lines In
1880. by a ten-year, yard stick.
Later the more frequent compila-
tion Of statistics of farm crops and
livestock, was begun in the De-
partment of Agriculture. Another
development was started when first
statistics on labor and the cost or
living was taken on. Most Of the
statistical work of the government
is of fairly recent origin. however,
and only within the last decade has
the business world began to appre-
ciate the value of statistical records
as a means of measuring present
conditions and forecasting possible
changes in the future.
All this is the natural outcome Of
the growth in size of the nation
and the Industries. So long as they
hende by business leaders, the
need for statistical measures was
relatively small. With the growth
of complex inter-relations. how
ever, and the greater interdepend-
ence of each on the others. individ-
ual personal observations became
more and more inadequate.
The war period Witnessed the de-
velopment OF vast statistical or
ganizations to gather the facts to
form the background for action in
developing policies and programs.
The War Industries oard and the
Food Administration had to develop
accurate facts by statistical sur
veys. At the same time this type
Of work was expanded in the regu-
lar departments to meet the need
for long-range views of changes.
A result has been a greatly ex-
tended knowledge and appreciation
among business men and the public
generally for accurate and extend
ed statistical surveys. Curves,
charts. tables and index numbers
are no longer regarded as merely
devices for statisticians to play
with. but are condensed representa-
tions of facts that are worth know
ing. Graphics aid in showing the
meaning of large groups of num-
bers and disclose the main point
The new Survey OF Current Bust
ness has been prepared after eN-
tended conferences with leaders in
trade and business organizations,
to discover what facts will be most
/ useful in indicating the relative
! condition of each industry. The
scope of the bulletin is indicated
by the main division 3sadings
which are as follows:
Banking and Finance; Price
Index Numbers: Cost of Living,
Earnings and Employment: Retail
Movement; Transportation: Foreign
| Trade; Crop Production: Farm
Products Movement: LivestocK
Movements: Foodstuffs Movement;
| Sugar, Milk. Tobacco: Building;
Metals and Metal Products: Fuel
and Power; Textiles; Active Textile
Machinery: Paper and Rubber; Au-
tomobile Tires: Leather.
The list Is preliminary, in a way
since II is proposed to use only
those classes of information that
are of the greatest use in later
issues. other items will be added
as arrangements are made to col
| lect the data needed.
Both index numbers and numeri-
cal data are given whenever pos
sible, so that the actual as well
as the relative change may be
noted by those who use the bulle.