The Statistical Work of the Federal Government in Relation to Price Stabilization

Abstract

ernment was concerned largely with the census returns and other data compiled at rather long intervals. These figures were compiled with scientific accuracy, but upon publication were looked at as historical records, not as up-to-date helps for the business man. The World War changed this picture. The business men called to Government service needed up-to-the-minute statistics in arranging for the production and distribution of supplies to our troops and to the overseas populations that were depending upon the United States for food, munitions, and other supplies. Stabilization of domestic prices of many commodities was also sought. The close contact formed between business men and Government statistical workers under stress of war conditions has never been lost and in fact has constantly increased. Business men began to see that they could find a wealth of material in the Government's statistics to aid them in establishing business policies which would prevent undue losses and stabilize their business. Government statisticians also found that through contact with business men their statistical product could be improved for service to the business man as well as to the economist or historian. Among the concrete examples of this kind of work were the inauguration by the Federal Reserve Board, shortly after the war, of current statistical indicators in the Federal Reserve Bulletin, the large increase in the number of current farm figures made available by the Department of Agriculture and the establishment in the Department of Commerce of the Survey of Current Business in 1921. It is not neces-