The purpose of this article was to present the estimates of the urban and rural workforces derived from census data. These censusbased estimates present a fairly consistent pattern of change over time, and appear useful even in their present state. These estimates should be tested further against other time series so that we will eventually have a sound urban and rural workforce series with which to better analyze the process of structural change. The limited use to which these estimates were put in the present article yielded some interesting results, as well as some suggestions for further research.

In terms of the United States workforce, changes in the industrial distribution reflect predominantly the relative shift in population from rural to urban areas, and little change in the workforce structure of either area. Indeed, at the sectoral level, there appears to have been more change occurring in rural than in urban areas. On the other hand, within the service sector there was more erratic change occurring in the rural areas than in the cities, but the differences may be easily reconciled. The urban sector experienced a more rapid increase and greater variability in the participation rate than did the rural sector. The pattern of variability was compared with the known evidence on unemployment, and variation in the former appears explicable in terms of variation in the latter.

The publication of a new volume of the Cambridge Economic History is itself an historical event. Like a great freight train, bursting out from its dark tunnel, it rattles across our landscape, loaded high with gold and spices, coal and lumber—a few peasants, merchants, silk-hatted bankers, officials, and businessmen clinging to the roofs of the cars. Livestock are terrified and students astonished; but as happy economic historians we line the tracks and wave our greeting, and then, as the noise and smoke fade away, we return to our firesides to tell each other stories of what we have seen.

Industrial growth and chronic, in many cases severe, inflation are two salient features of the past-war economic history of the larger Latin American countries. There is general recognition that the two phenomena are related, at least in the sense that industry has been one of the major recipients of state subsidies and inflationary credit. But beyond this, analysis divides into the usual demand inflation and cost-push categories.

This paper attempts to shed new light on the proximate determinants of domestic investment in Victorian Britain by focusing on the relationship between asset markets and investment behavior. It demonstrates that Victorian investment fluctuations were associated with divergences between the valuation of installed capital as determined in asset markets and the supply price of new capital as determined in commodity markets. After showing how investment fluctuations in Victorian Britain were related to real equity prices, the paper concludes with a summary of findings on the determinants of real share prices.

I examine the change in prices of foreign sovereign dollar bonds over several weeks in 1930 that marked major legislative progress for the Smoot-Hawley tariffs. If the market was preoccupied by anticipated debt-repayment problems arising from the tariffs, this should be visible in the cross-countty pattern of bond prices. The bond price data are compared to indicators of country sensitivity to the tariffs and debt service. A significant relationship is found for bond price changes in June 1930, but the size of the effect is very small. Analysis at the regional and individual country level reveals some puzzling cases.