191

for new metals. The series of this appendix are derived

from data generated by the Bureau of Mines showing

apparent consumption of iron and copper for the period

1900-1960. These figures incorporate imports and exports

of metals in all forms, from ore to the metal content

of final products. They do not include production

from scrap, and as such represent additions to the

domestic stock of metals in use.

 Basic data are in terms of constant 1954 dollars.

They can be converted to physical equivalents by using

the following values and weights:


 Unit of Quantity Value/
 Item Measure (1,000) Unit

 Iron content long ton 40,047.4 $ 13.50
 Copper content short ton 835.5 447.40


 Attention is directed to Figures 3 and 5. For

these charts, the annual additions to metals in use

were summed for the period 1900-1960. Increases in

the stock of metals in use are shown for the period

1920-1960. Comparison of the stock of metals in use

relative to GNP is facilitated by the fact that

unemployment rates for 1920 and 1960 differed by less

than 0.025 points per year of time span.


 See Raw Materials in the United States Economy:
1900-1961, pp. 85-86 for method used in computing imports
and exports of metals by content.

 See Long Term Economic Growth, 1860-1965, p. 107.