The major elements of current public expenditure on education per pupil are compared in four countries for the years 1955, 1960, and 1965. The analysis is made in terms of money outlays (U. S. dollars at the official rates of exchange) and in "real" terms. The problems involved in the conversion of outlays to real terms are explored, as well as the difficulties in the way of international and intertemporal comparisons of the results. The level of educational costs per pupil is seen to be very dependent on levels of income per capita, and particularly on the levels of qualified teachers' salaries relative to other costs.