| Show MONEY IR efficiency enormous addition to the national income Is not real wealth increase DUE TO RISE IN PRICES national bureau of economic research He earch after exhaustive study stud makes public afar 11 figures showing variation in dollars Dollar 1 purchasing power owr new ew york oct 27 the total national dional 1 income of the united states in 19 1018 8 was 01 billion dollars as compared with billions in 1013 but this increase in dollars did not represent a like increase in production most of it was due to the rise in prices for the dollar of 1018 1918 and 1019 1919 was a much less efficient dollar than that of 1013 1913 the actual total of commodities produced increased very little it if at all and a large part of those which were produced were war materials not of a kind really benefiting consumers consequently individual incomes estimated on a per capita basis rising from in 1010 1910 and in 1013 to in 1018 1918 represent more dollars but little 0 or no real increase because the of 1918 Is equivalent t to 0 only 1372 in terms of the purchasing power of 1013 1913 these are the most important findings ings of the national bureau of economic nom c research made public today in adv advance a n c e of the formal publication of r th the r results of a years study of income in the united states this study the most exhaustive ever made athe M the income question in this country has been conducted by wesley clair nit Ml matchell c hell willford Wll lford 1 I king frederick it macaulay macnulty and oswald W knauth knau th under the auspices and direction of a board of nineteen n directors including men mea prominent in many fields of business education labor agriculture economics and practical statistics and anny divergent points ot bf view this tab table a exhibits the main findings In including dudIng the equivalent value of per capita income in terms of the 1013 purchasing power total naper capita per capita donal incle inca income income in billions in dollars dollar 1913 dora too 1910 SLA 1911 1911 12 1912 fa ft us biml 8 1214 14 wis us we 01 1917 1917 amp ea SM 1918 flo me distribution of income the report says that only one out of a hundred 1 per cent income receivers cel vers in the united states in 1018 1913 jad ah incomes of or more and that this one per cent had bad 14 per cent of the national income five per cent representing incomes above had bad 20 per cent of the total ten per cent including income above 2300 had nearly 33 35 per cent of the total the most prosperous 20 per cent including income above 1750 had about 47 per cent eighty per cent of the income receivers had incomes be below ow 1750 receiving about 63 53 per cent of 0 the total income share of labor and capital in most of the years since 1012 the bureau finds that in the principal organized industries wages and salaries were about 70 per cent of the total income while capital including management received about 30 per cent out of which were paid rent interest and profits but these proportions varied materially with relative prosper ity and depression in 1010 for example the share of capital increased to about 85 per cent with 05 65 per cent to labor while in 1010 1919 share feu fell to about 22 per cent tralle labor got about 78 of the total payments to employees in the highly organized ind industries atries about 02 per cent goes to the manual workers and clerical stairs staffs while 8 per cent goes to officials share chare of the farmer the farmers who during the past decade have made up about 10 16 per cent of the total of gainfully employed had from 12 to 13 per cent of the n national it income in the years between 1010 2010 and 1010 inclusive since 1017 they have been rec receiving elving 10 to 17 per cent or a somewhat higher proportion as the following figures figurea from the report slow plow per cent 1910 1311 11 II 9 na 1912 1913 12 6 1911 1914 1915 1017 ac 3 1318 1918 H 0 1919 10 8 sources of production on As tor for the sources of national lacome income the bureau finds taking a general average since 1010 that agrical ture contris contrib contributes u tes about 17 per cent ol of the total manufacturing about 80 per cent transportation about 0 per cent government bout about 0 5 per cei cent it mining a little more mor a than 8 3 per cent banki banking a little over ove r 1 per cent th the 0 m many a ny ciscell miscellaneous 0 o us employments professional dional me men n retailers jobbers merchants domestics domestico etc too numerous t to 0 list specifically contribute 83 33 per cent in other words our highly organized industries even if 11 wo we include all manufacturing mining transports tran tion banking and government activities uch such as education and road build tax ing prod produce u only about half of the national income the rest Is due to the efforts of small independent workers income tax discrepancies the tha report estimates that the number of persons in 1918 having in income comell over ever 2000 was and that abak their total income was over 23 billion dolla dollaga dol laiA fL income tax returns however showed only persons person baring shaving ever 2000 and their total reported income a was leas than 14 billion d dot lars larg this d discrepancy Is due in part to technical evasions and straight tile llla gal eal withholdings but also la in part to the existence of tax exempt income what this means in terms of the ln 1114 come tax is that the jovern government ment received in 1018 1918 about half a billion dol lars less than it would have if a 4 persons receiving 2000 had ad paid thel their fun full amount contribution of housewives the contribution of the american housewives Is not included by the bureau budeau in the national income because they are not paid in money but the report points out that it if they were pa paid d at the lowest possible figure the average recompense ot of personal and domestic service their addition to the total national income would be about one third or 18 billions on that basis the bureau gives the following conjectural figure as to the fluctuation of the housewives contribution to the national income since 1009 total individual contribution in ong year in dollars of 0 33 dollars ollars I 1 1903 we 1910 2910 1911 2911 SM BOO 1912 X 9 az WC I 1 1019 2915 1084 1081 WO 1194 f UM 1917 2917 rao 1430 14 SO 18 TEO 1530 ID 80 1919 BOO 1343 1845 income in other countries poth the total national Income an the per capita income in come are ar 0 larger id the united states than in any othel oth th country the report estimates this 14 u the relative standing of the four bouno tries named at the outbreak ot of tha war catl income income oits per capita Capite 1914 of dollars dollar in dollars Do llara united states M united kingdom 10 germany 10 C austria I 1 la 33 3 3 the report Is in press presa and will ba b published early eaily in november how the bureau J in constituted the national bureau of economy eco nom I 1 research was organized after aft erth the wa w by a group of persons who had conn c to realize the need for accurate one scientific collation of statistical information as a basis for intelligent solution of national problems the dir dareo tors of the bureau are T S adams adam a advisor to the treasury department john it commons of the university f of f wisconsin john P prey frey editor 01 0 the internal international dional molders holders jour journal nail I 1 edwin P F gay president of the new nef york evening post harry W laidler landler secretary of the intercollegiate socialist society elwood mead head professor 01 rural institutions university of california ca i wesley clair mitchell new school tor for social research IE I E sterrett of the firm of price and company accountants N I 1 L stone stona labor manager freeman company allyn A young professor ol of econom economics acs ics Il harvard arvard university also the following appointed by the organizations named F P fish of tha th national industrial conference boards board hugh frayne american federation ol 01 of labor david friday american economic association W R ingalls engineering gi council J M 1 I larken industrial du relations association oi america george E roberts american bankers association malcolm CL 0 american statistical association ass ocla A W shaw periodical publishers association and gray silver american federation F ede ration ot of farm bureaus it Is a rule of the bureau that each director must approve the findings ot of the research or state his specific objections as part of the report in this way bias Is eliminated for to methods and results are under constant supervision from men whose points of view tire are dissimilar |
