Journal Article The Dun-Gibson Index Number Get access Wesley C. Mitchell Wesley C. Mitchell University of California Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 25, Issue 1, November 1910, Pages 161–172, https://doi.org/10.2307/1885829 Published: 01 November 1910

MENT SECURITIES: I890-I909 The following tables of,the prices of bonds and of the interest yielded by investment securities, commercial paper, and call loans have been made in connection with an investigation into business cycles since I890. They are companion pieces to the tables of relative prices of common and preferred stocks, published in the issues of this Journal for May and July, I9I0. The text of the present paper is limited to a description of the tables, a brief analysis of the results, and a comparison between the course of interest rates and bond prices in America and Europe. While certain special problems suggested by the statistics are discussed, no systematic effort is made to account for the fluctuations in the rates of interest; for that general problem canlnot be treated adequately without thorough analysis of the whole business situation.

During the Civil War there were in New Yol-k four regular markets where gold was bought and sold: the stock exchange, the "open board," the gold exchange, and Gallagher's evening exchange.