Per

LiabiUties Liabilities cent
Number of Averag^e per capita per firm in of

Year Failures Liabilities Liabilities of population business fai'res

1875 7,740 $201,060,333 $25,960 $4.55 $339.87 1.21

1876 9,092 191,117,786 21,020 4.23 305.15 1.33

1877 8,872 190,669,936 21,491 4.11 302.60 1.36

1878 10,478 234,383,132 22,236 4.92 259.49 1.55

1881 5,582 81,155,932 14,530 1.58 108.65 .71

1882 6,738 101,547,564 15,070 1.93 129.94 .83

1883 9,184 172,874,172 18,823 3.22 210.23 1.06

1884 10,968 226,343,427 20,632 4.12 261.94 1.21

1885 10,637 124,220,321 11,678 2.21 137.28 1.16

1886 9,834 114,644,119 11,651 2.00 124.60 1.01

1893 15,042 346,779,889 22,751 5.22 290.65 1.28

1894 13,885 172,992,856 12,458 2.55 155.25 1.25

1900 10,774 138,495,673 12,854 1.81 119.63 .92

1901 11,002 113,092,376 10,279 1.45 94.63 .90

1902 11,615 117,476,769 10,114 1.49 94.85 .93

1903 12,009 155,444,185 12,879 1.94 122.33 1.12

1904 12,199 144,202.311 11,820 1.76 111.33 .92

1905 11,520 102,676,172 8.193 1.24 78.75 .85

1906 10,682 119,201,515 11,159 1.41 86.52 .77

1907 11,725 197,385,225 16,834 2.31 139.75 .82

1908 15.690 1.08

From this second table we have another view
of the usefulness of failure statistics. As in



BUSINESS FAILURES 233

table one, the panic years are plainly marked
by the per cent, of failures to the total number
of firms in business, but table two also shows
something additional relative to business condi-
tions.
