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YEAn AND &IONTH<br />
Par value<br />
1914 average.<br />
1915 average .<br />
1916nverago_,<br />
1917 average..<br />
1918 average.,<br />
1919 average.<br />
1920 average.<br />
1921 average.<br />
1922 average.<br />
1923 average.<br />
<strong>May</strong><br />
June<br />
July,...<br />
August.<br />
September-<br />
October<br />
November..<br />
December..<br />
January..<br />
February.,<br />
March<br />
April<br />
<strong>May</strong>....<br />
Juno<br />
July....<br />
August.<br />
September..<br />
October<br />
November..<br />
December..<br />
January...<br />
February.,<br />
March<br />
April<br />
<strong>May</strong><br />
June<br />
July<br />
August...<br />
September..<br />
October<br />
November..<br />
December..<br />
January...<br />
February..<br />
March<br />
April ,<br />
<strong>May</strong>....<br />
Juno<br />
July....<br />
August.<br />
1921<br />
1923<br />
<strong>1924</strong><br />
208<br />
Table 152.—FOREIGN EXCHANGE *<br />
ilndci numbers for base year in bold-faced type; numerical data on opposite page]<br />
England<br />
100<br />
106<br />
01<br />
75<br />
79<br />
91<br />
94<br />
82<br />
78<br />
75<br />
75<br />
77<br />
79<br />
82<br />
86<br />
87<br />
90<br />
90<br />
91<br />
91<br />
91<br />
91<br />
92<br />
91<br />
91<br />
92<br />
95<br />
96<br />
90<br />
97<br />
96<br />
95<br />
95<br />
94<br />
93<br />
93<br />
90<br />
90<br />
89<br />
88<br />
89<br />
France Italy<br />
100<br />
103<br />
94<br />
88<br />
90<br />
92<br />
71<br />
36<br />
39<br />
42<br />
32<br />
.43<br />
42<br />
40<br />
40<br />
38<br />
38<br />
37<br />
40<br />
42<br />
45<br />
47<br />
47<br />
46<br />
43<br />
41<br />
40<br />
38<br />
36<br />
38<br />
35<br />
32<br />
32<br />
35<br />
35<br />
33<br />
31<br />
30<br />
30<br />
31<br />
29<br />
27<br />
24<br />
23<br />
24<br />
100<br />
101<br />
87<br />
80<br />
71<br />
59<br />
26<br />
22<br />
25<br />
24<br />
27<br />
26<br />
23<br />
22<br />
22<br />
21<br />
21<br />
23<br />
23<br />
25<br />
26<br />
28<br />
27<br />
26<br />
24<br />
23<br />
22<br />
22<br />
23<br />
26<br />
25<br />
25<br />
25<br />
26<br />
25<br />
24<br />
22<br />
22<br />
23<br />
23<br />
23<br />
23<br />
23<br />
23<br />
22<br />
23<br />
EUROPE<br />
BelgiumNetherlands<br />
100<br />
66<br />
38<br />
38<br />
40<br />
27<br />
43<br />
42<br />
40<br />
39<br />
37<br />
37<br />
36<br />
39<br />
40<br />
43<br />
44<br />
44<br />
44<br />
42<br />
40<br />
39<br />
37<br />
36<br />
33<br />
34<br />
31<br />
28<br />
28<br />
30<br />
30<br />
28<br />
25<br />
24<br />
25<br />
26<br />
25<br />
24<br />
22<br />
20<br />
20<br />
27<br />
100<br />
97<br />
86<br />
84<br />
%<br />
97<br />
83<br />
79<br />
77<br />
79<br />
83<br />
87<br />
91<br />
91<br />
94<br />
94<br />
94<br />
96<br />
96<br />
96<br />
97<br />
97<br />
97<br />
97<br />
98<br />
97<br />
95<br />
95<br />
93<br />
93<br />
92<br />
93<br />
Sweden<br />
100<br />
95<br />
76<br />
84<br />
Switzerland<br />
Relative to par<br />
1OO<br />
101<br />
97<br />
99<br />
109<br />
119<br />
90<br />
99<br />
94<br />
ASIA<br />
Japan India *<br />
100<br />
102<br />
103<br />
107<br />
103<br />
101<br />
97<br />
96<br />
97<br />
100<br />
83<br />
80<br />
54<br />
59<br />
64<br />
Can- Argcnada<br />
tina<br />
1OO<br />
96<br />
89<br />
90<br />
99<br />
98<br />
THE AMERICAS<br />
100<br />
100<br />
103<br />
104-<br />
103<br />
94<br />
76<br />
85<br />
81<br />
Brazil Chile<br />
100 < 100<br />
t -n -i " ' ' * See footnotes on opposite page also.<br />
elusive whe 8 re e 5vM °i5^Si^n? ble f transferS * e P° rted *? the Treasury daily by the New York Federal Zeserre Ban*. Average figures for the years 1914 to 1918, |£<br />
mBSo^^<strong>of</strong>ihBi^lT^lu^t^ is°sT(No 24T° tatl °i n ftV rOm thG Alinmu For figt1reS on Germa *y> wbi
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