When, in April 1908, Mr Asquith became premier, and Mr Lloyd George chancellor of the exchequer, the sugar convention The world's trade in cane and beet sugar in tons avoirdupois at decennial periods from 1840 to 1870, inclusive, and yearly from 1871 to 1901 inclusive, with the percentage of beet sugar and the average price per cwt.
The over-supply of cheap Brazilian coffee in the consuming markets caused a heavy fall in prices at the beginning of the decade, the average price in London in 1901 being 47s.
But obviously the information given by the standard deviation is limited: the frequency of movement cannot be inferred from it; two series might have quite different average oscillations and yet the same standard deviation; and the range of movement, or spread of the variations from the average price (though allowed for in the standard deviation more than in the average error), is hidden.
In 1894 the monthly average price for October, the chief month for wheat-sowing in England, was only 17s.
In only one year, 1878, did the annual average price of English barley touch 40s.
The diagonal line shows the average price per lb of all Indian tea sold in the London public auctions.
The total production in 1905 was 149,431 tons; the average price of salt for the island in 1905 was 22d.
Between these two occurrences came the disastrous decline in the value of grain in the autumn of 1894, when the weekly average price of English wheat fell to the record minimum of 17s.
Though the crisis had results disastrous to the speculators, the position of the fellahin was hardly affected; the cotton crop was marketed with regularity and at an average price higher than that of 1906, while public revenue showed a satisfactory See Egypt No.