FRANCE
Spliced Series
Gross Gross Change Current CA Net Change
Domestic Domestic in Account Excluding Exports in Monetary
Product Capital Stocks Original All Gold Gold Gold
Formation Flows Stock
Spliced Spliced Spliced
(Fr m) (Fr m) (Fr m) (Fr m) (Fr m) (Fr m) (Fr m)
1850 11936.0000 1306.0000 33.0000 501.0000 501.0000 -227.5625 71.0000
1851 11754.0000 1269.0000 -60.0000 653.0000 653.0000 -227.5625 255.0000
1852 13318.0000 1563.0000 20.0000 573.0000 573.0000 -227.5625 9.0000
1853 14829.0000 1621.0000 -234.0000 718.0000 718.0000 -172.1740 170.0000
1854 16657.0000 2171.0000 165.0000 534.0000 534.0000 -252.4280 504.0000
1855 17593.0000 2052.0000 -141.0000 410.0000 410.0000 -21.0830 420.0000
1856 18261.0000 2531.0000 200.0000 365.0000 365.0000 -91.6300 475.0000
1857 17633.0000 2760.0000 416.0000 476.0000 476.0000 -86.0020 534.0000
1858 16459.0000 2320.0000 144.0000 830.0000 830.0000 -472.1650 443.0000
1859 16493.0000 1892.0000 -164.0000 1198.0000 1198.0000 -367.8200 653.0000
1860 17562.0000 2139.0000 31.0000 1037.0000 1037.0000 -154.4560 370.0000
1861 17948.0000 2094.0000 -105.0000 201.0000 201.0000 85.5470 34.0000
1862 18627.0000 2594.0000 365.0000 782.0000 782.0000 -78.8670 150.0000
1863 19215.0000 2550.0000 234.0000 1043.0000 1043.0000 56.3650 143.0000
1864 19598.0000 2440.0000 42.0000 1351.0000 1351.0000 -82.6680 204.0000
1865 19316.0000 2487.0000 70.0000 1448.0000 1448.0000 -223.4100 90.0000
1866 20128.0000 2409.0000 -141.0000 1380.0000 1380.0000 -510.2170 291.0000
1867 19880.0000 2282.0000 -276.0000 831.0000 831.0000 -598.3230 120.0000
1868 21278.0000 3069.0000 382.0000 596.0000 596.0000 -322.1380 259.0000
1869 20261.0000 2658.0000 139.0000 1054.0000 1054.0000 -385.7590 150.0000
1870 19312.0000 1967.0000 -124.0000 1101.0000 1101.0000 -155.2330 -32.0000
1871 19842.0000 1816.0000 -60.0000 555.0000 555.0000 213.8140 -108.0000
1872 20860.0000 2521.0000 114.0000 1503.0000 1503.0000 52.8930 -106.0000
1873 20683.0000 2314.0000 -190.0000 1547.0000 1547.0000 108.6390 -123.0000
1874 21624.0000 2869.0000 464.0000 1458.0000 1458.0000 -431.2500 -64.0000
1875 21276.0000 2553.0000 205.0000 1589.0000 1589.0000 -470.3210 146.0000
1876 21103.0000 2074.0000 -359.0000 787.0000 787.0000 -503.6530 85.0000
1877 21105.0000 2529.0000 -63.0000 1033.0000 1033.0000 -435.7360 162.0000
1878 20017.0000 2329.0000 -171.0000 308.0000 308.0000 -236.4040 89.0000
1879 19881.0000 2402.0000 -260.0000 -85.0000 -85.0000 160.9600 -16.8549
1880 21140.0000 3335.0000 238.0000 -280.0000 -280.0000 213.1220 -40.2646
1881 22567.0000 3726.0000 265.0000 5.0000 5.0000 -10.3900 -37.4554
1882 23410.0000 3601.0000 137.0000 70.0000 70.0000 -91.3730 -37.4554
1883 22465.0000 3276.0000 -10.0000 -32.0000 -32.0000 70.2940 -40.2646
1884 21371.0000 3145.0000 18.0000 193.0000 193.0000 -45.5490 -40.2646
1885 20791.0000 2846.0000 -9.0000 263.0000 263.0000 -42.4980 -40.2646
1886 20583.0000 2544.0000 -83.0000 323.0000 323.0000 -62.8040 -17.7913
1887 20762.0000 2801.0000 50.0000 523.0000 523.0000 164.9100 -16.8549
1888 21256.0000 2730.0000 -60.0000 500.0000 500.0000 91.3590 -39.3282
1889 21360.0000 2866.0000 68.0000 818.0000 818.0000 -208.2240 -31.8371
1890 22145.0000 3034.0000 32.0000 716.0000 716.0000 133.1200 -31.8371
1891 22624.0000 3024.0000 -33.0000 185.0000 185.0000 -127.0790 -36.5190
1892 22920.0000 3111.0000 106.0000 593.0000 593.0000 -276.4280 -40.2646
1893 22506.0000 3014.0000 52.0000 671.0000 671.0000 -188.6000 3.7455
1894 22439.0000 3136.0000 218.0000 484.0000 484.0000 -353.9420 -39.3282
1895 21830.0000 3066.0000 44.0000 958.0000 958.0000 -9.4940 51.5012
1896 33102.4100 6335.6100 1285.0800 934.6005 934.6005 10.0550 63.6742
1897 31355.3700 5447.9270 474.1440 1030.5061 1030.5061 -158.8530 154.5036
1898 33827.5800 6622.5080 1413.7690 436.8838 436.8838 113.7990 122.6665
1899 35549.7400 6413.5791 817.1921 1144.2052 1144.2052 -156.8590 -51.5012
1900 36091.7800 5900.0230 -16.9260 1015.5472 1015.5472 -333.5430 -62.7378
1901 34174.1000 4491.8870 -1201.3300 1101.2435 1101.2435 -283.9820 6.5547
1902 34321.7500 6163.9015 557.7545 1377.8892 1377.8892 -313.4860 -91.7658
1903 35908.7400 6411.8932 766.0942 1096.5499 1096.5499 -184.3690 132.9668
1904 36864.7600 5363.1450 -393.9360 1645.7387 1645.7387 -533.7450 90.8294
1905 38042.7600 7290.9910 1447.1130 1938.2312 1938.2312 -648.1540 147.9489
1906 38383.9100 7553.9450 1410.9880 1698.5171 1698.5171 -270.4860 253.7605
1907 41858.4500 8631.6010 1905.2540 1635.3489 1635.3489 -289.8580 314.6256
1908 41182.7300 7907.1610 1135.0250 1628.6115 1628.6115 -994.1240 93.6386
1909 42966.1200 7493.5360 251.1940 1899.7087 1899.7087 -182.0350 129.2212
1910 42219.9600 8025.5580 -63.2170 1615.7675 1615.7675 -57.9070 60.8651
1911 46089.9500 7454.0320 -1298.7900 713.5610 713.5610 -125.1170 50.5648
1912 51175.7300 11694.4270 2178.9780 1416.2067 1416.2067 -169.6510 122.6665
1913 50828.2700 11221.2230 1442.6230 1490.0000 1490.0000 -511.3870 194.7682
1914 45077.7100 #N/A #N/A #N/A #N/A -772.4430 537.0000
1915 45098.2500 #N/A #N/A #N/A #N/A 76.9740 460.0000
1916 59593.5100 #N/A #N/A #N/A #N/A -60.7670 595.0000
1917 70721.6900 #N/A #N/A #N/A #N/A -75.0800 320.0000
1918 78240.8100 #N/A #N/A #N/A #N/A -13.0430 154.0000
1919 104985.8000 32004.8000 10680.8000 -21621.6000 -21621.6000 -84.2420 142.0000
1920 159454.8000 47669.4700 17910.2800 -19256.0000 -19256.0000 293.3130 8.0000
1921 128565.9000 10846.4100 -15547.0000 3289.0000 3289.0000 219.0060 -43.0000
1922 159907.1000 22177.2100 -8563.8100 2825.0000 2825.0000 -57.5820 13.0000
1923 189830.2000 47403.9500 18332.9600 7618.0000 7618.0000 67.0760 8.0000
1924 241818.3000 70432.8400 29304.5800 11573.0000 11573.0000 156.0600 6.0000
1925 265805.1000 76837.5800 38834.9000 12279.0000 12279.0000 -51.3970 4.0000
1926 330620.4000 105505.1600 47572.3600 10852.0000 10852.0000 -65.0710 1.0000
1927 342526.9000 80866.4400 31250.3400 11172.0000 11172.0000 501.9940 -2.0000
1928 356073.9000 98358.0500 35202.4500 11160.0000 11160.0000 -6493.0240 26211.1480
1929 400153.6000 125171.3000 48011.6000 13997.0000 13997.0000 -8606.2490 9757.7640
1930 392197.7000 114359.5800 15651.5800 17322.0000 17322.0000 -11741.4900 11911.6800
1931 365560.5000 93909.0700 18514.7700 1849.0000 1849.0000 -18500.0000 14879.4480
1932 316488.2000 62765.3800 10171.4800 -5283.0010 -5283.0010 -17000.0000 14608.7280
1933 312798.5000 58710.5700 12525.5700 -8887.9990 -8887.9990 1000.0000 -6152.1120
1934 297290.7000 61962.6800 21047.1800 -2881.0010 -2881.0010 -1500.0000 5150.4480
1935 280102.9000 57302.4000 23106.6000 -1781.0000 -1781.0000 15000.0000 -15784.6680
1936 281269.7000 56834.7200 20653.5600 -5851.0000 -5851.0000 20700.0000 -3043.7760
1937 349307.8000 70151.0000 13820.1000 -11441.0000 -11441.0000 6500.0000 957.3960
1938 395830.0000 60304.7790 7304.7790 -4764.9980 -4764.9980 -3000.0000 20514.1140
1939 453255.4000 85866.6700 35525.5400 -8588.3010 -8588.3010 #N/A 17228.7020
1940 #N/A #N/A #N/A #N/A #N/A #N/A -17161.6520
1941 #N/A -19.0432
1942 #N/A 0.0000
1943 #N/A 0.0000
1944 #N/A -9450.1880
1945 #N/A -23237.0288
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FRANCE
Mitchell Data Leboyer/Bourguignon Data
GDP CF Current Real GDP Gross Change Exports Invisible Imports Net Foreign CA Consumption
Decade Balance GDP Fixed in Payments Income Balance Government
Average Capital Stocks Consommation
Formation des Administrations
mFFr mFFr mFFr mFFr mFFr mFFr mFFr mFFr mFFr mFFr mFFr mFFr CG
1845 12479 1610 -156 836 151 796 1 192
1846 13287 1800 -147 835 166 891 5 115
1847 14506 1912 528 729 177 956 8 -42
1848 11352 1465 21 690 144 474 4 364
1849 11346 1290 -48 938 175 724 9 398
1850 14013 1629 192 15968 11936 1273 33 1068 210 791 14 501
1851 14925 1629 115 15764 11754 1329 -60 1158 230 765 30 653
1852 17352 1629 -42 17964 13318 1543 20 1257 254 989 51 573
1853 12992 1629 364 17108 14829 1855 -234 1542 298 1196 74 718
1854 14087 1629 398 17190 16657 2006 165 1414 315 1292 97 534
1855 14279 1629 301 17353 17593 2193 -141 1557 332 1594 115 410 p. 431
1856 14154 1629 643 17067 18261 2331 200 1892 347 1990 116 365
1857 15986 1629 573 18004 17633 2344 416 1865 357 1873 127 476
1858 16286 1629 718 16579 16459 2176 144 1886 350 1563 157 830
1859 18396 1629 534 17679 16493 2056 -164 2265 398 1641 176 1198
1860 18488 2415 410 17190 17562 2108 31 2276 432 1897 226 1037
1861 20011 2415 365 17801 17948 2199 -105 1925 447 2442 271 201
1862 19947 2415 476 19226 18627 2229 365 2242 457 2199 282 782
1863 18474 2415 930 20041 19215 2316 234 2643 507 2426 319 1043
1864 17815 2415 1198 18127 19598 2398 42 2923 578 2528 378 1351
1865 20684 2415 1037 19715 19316 2417 70 3085 573 2642 432 1448
1866 21260 2415 301 19023 20128 2550 -141 3180 571 2794 423 1380
1867 21934 2415 782 21426 19880 2558 -276 2824 594 3027 440 831
1868 21746 2415 1043 22404 21278 2687 382 2788 583 3304 529 596
1869 21740 2415 1351 22974 20261 2519 139 3073 593 3153 541 1054
1870 20910 2831 1448 22404 19312 2091 -124 2801 548 2867 619 1101
1871 22727 2831 1380 23137 19842 1876 -60 2871 581 3567 670 555
1872 22536 2831 831 21956 20860 2407 114 3760 666 3570 647 1503
1873 25040 2831 596 24644 20683 2504 -190 3784 665 3555 653 1547
1874 25335 2831 1054 25540 21624 2405 464 3698 652 3508 616 1458
1875 23959 2831 1101 23626 21276 2348 205 3870 659 3537 597 1589
1876 23682 2831 555 22526 21103 2433 -359 3573 657 3988 545 787
1877 24955 2831 1523 24603 21105 2592 -63 3436 619 3670 648 1033
1878 24220 2831 1547 22852 20017 2500 -171 3177 657 4176 650 308
1879 25993 2831 1458 25785 19881 2662 -260 3228 662 4595 620 -85
1880 26237 3451 1589 26640 21140 3097 238 3467 670 5033 616 -280
1881 24604 3451 787 24481 22567 3461 265 3560 694 4864 615 5
1882 25623 3451 1033 25785 23410 3464 137 3574 714 4822 604 70
1883 24964 3451 306 25439 22465 3286 -10 3452 716 4804 604 -32
1884 22947 3451 -80 23870 21371 3127 18 3233 690 4341 611 193
1885 25409 3451 -280 25988 20791 2855 -9 3087 652 4088 612 263
1886 26494 3451 5 27007 20583 2627 -83 3248 667 4208 616 323
1887 27850 3451 70 28269 20762 2751 50 3244 675 4026 630 523
1888 27243 3451 -32 28351 21256 2790 -60 3243 705 4107 659 500
1889 26031 3451 293 28025 21360 2798 68 3699 778 4317 658 818
1890 25100 3527 262 27536 22145 3002 32 3747 742 4437 664 716
1891 25226 3527 343 27984 22624 3057 -33 3566 708 4768 679 185
1892 25144 3527 523 28188 22920 3005 106 3457 657 4188 667 593
1893 25684 3527 500 28473 22506 2962 52 3232 623 3854 670 671
1894 27426 3527 818 29165 22439 2918 218 3073 594 3850 667 484
1895 28928 3527 716 29858 21830 3022 44 3357 651 3720 670 958
1896 29331 3527 185 30550 21777 3103 -99 3385 644 3799 703 933 0.72
1897 28698 3527 593 31324 23156 3186 -181 3582 671 3956 727 1024 0.71
1898 28151 3527 671 31854 24873 3409 302 3494 686 4473 769 476 0.84
1899 28408 3527 584 33035 25351 3777 291 4136 720 4518 795 1133 0.89
1900 27166 4933 958 32343 26130 4034 153 4089 784 4698 838 1013 0.93
1901 28758 4933 933 33891 25612 3771 -281 3993 737 4369 884 1245 0.89
1902 30420 4933 1024 33443 24770 3526 -170 4235 726 4394 941 1508 0.88
1903 31900 4933 476 35072 26227 3621 76 4236 745 4801 1010 1190 0.82
1904 32571 4933 1127 37068 26453 3517 131 4436 764 4502 1052 1750 0.83
1905 32806 4933 1013 36661 27492 3591 171 4849 824 4778 1127 2022 0.77
1906 30938 4933 1245 36090 28468 3685 -229 5249 922 5627 1226 1770 0.83
1907 31880 4933 1508 35479 30724 4172 356 5578 989 6223 1315 1659 1.08
1908 33891 4933 1190 36253 29981 4300 -45 5034 984 5641 1372 1749 1.01
1909 33071 4933 1650 36538 30866 4248 11 5701 1059 6246 1390 1904 0.96
1910 33215 6390 1880 37149 32458 4792 -622 6215 1117 7173 1483 1642 0.99
1911 35615 6390 1750 37842 34809 4899 369 6055 1181 8066 1547 717 1.14
1912 38741 6390 1659 39471 38502 5370 636 6692 1289 8231 1573 1323 1.23
1913 37326 6390 1749 39268 38842 5759 -30 6864 1334 8421 1657 1434 1.37
1914 40101 6390 1904 40897 1.9
1915 40914 6390 1642 38412 7.4
1916 45089 6390 1717 42160 12.9
1917 49360 6390 1323 45663 14.8
1918 49571 6390 1435 45378 16
1919 6.7
1920 5.6
1921 4.6
1922 4
1923 3.1
1924 3.5
1925 175371 39426 -27693 41426 3.9
1926 133729 39426 8789 39716 4.8
1927 155636 39426 5576 46844 5.4
1928 188961 39426 4742 49288 6.9
1929 217288 39426 10194 55480 8
1930 247945 58788 8428 55724 9.7
1931 323766 58788 9255 57190 12.1
1932 304506 58788 7746 55968 12.4
1933 330369 58788 5720 59879 11.8
1934 346426 58788 4489 63912 11.1
1935 334083 58788 308 62079 12.6
1936 298785 58788 -3012 58372 14.1
1937 266224 58788 -6315 54584 19.7
1938 248740 58788 -2950 58453 24
1939 229990 58788 -1250 57883 55.9
1940 204412 58149 -400 56417 #N/A
1941 246318 58149 -2820 58535
1942 346764 58149 -3995 61956
1943 413952 58149 -120 61671
1944
1945
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Pierre Villa (1993) Data
Consumption Investment Imports Exports Current Account Deficit
Private Business Public Private
Consommation Investissement Investissement Investissement Importations Operations Exportations Solde des Intrets et Depenses Dommages de Sum of Epargne Brute
Totale des des Enterprises des
des Administrations Menages Diverses de Utilizations Dividends et Recettes Geurre verses Components Des Menages
Menages Repartitions Exterieur de Services Exterieurs
Verses par l exterieur par L Exterieur
CM IE IG IM IMPORT ODRX EXPORT SUS IDVX DREX DOMX -EBX
p. 431 p. 439 p. 439 p. 439 p. 439 p. 444 p. 437 p. 448 p. 438 p. 435 p. 435 p. 436
26.08899 3.03521 0.25 1.76532 3.799 0.1105295 3.401 0.44213 0.917 0.084 0 0.9346005 #N/A
25.19407 2.987822 0.27 1.715961 3.956 0.1372339 3.598 0.46774 0.956 0.102 0 1.0305061 #N/A
26.91712 3.188527 0.29 1.730212 4.472 0.1215462 3.511 0.45643 0.977 0.086 0 0.4368838 #N/A
28.12601 3.534369 0.32 1.742018 4.518 0.1896848 4.153 0.53989 1.03 0.129 0 1.1442052 #N/A
29.31595 3.97053 0.37 1.576419 4.698 0.1336228 4.109 0.53417 1.12 0.084 0 1.0155472 #N/A
28.62591 3.6456 0.32 1.727617 4.369 0.1594465 4.013 0.52169 1.05 0.045 0 1.1012435 #N/A
26.86648 3.56675 0.31 1.729397 4.394 0.1018707 4.252 0.5527599 1.03 0.039 0 1.3778892 #N/A
28.67345 3.61981 0.31 1.715989 4.802 0.09421 4.252 0.5527599 1.06 0.128 0 1.0965499 #N/A
30.14333 3.69261 0.32 1.744471 4.502 0.1178913 4.451 0.57863 1.09 0.146 0 1.6457387 #N/A
29.26038 3.71885 0.28 1.845028 4.779 0.1314788 4.867 0.63271 1.17 0.179 0 1.9382312 #N/A
29.67683 4.11012 0.29 1.742837 5.627 0.1219329 5.265 0.68445 1.31 0.188 0 1.6985171 #N/A
32.04562 4.71213 0.29 1.724217 6.223 0.1321311 5.596 0.72748 1.41 0.257 0 1.6353489 #N/A
32.1972 4.66308 0.31 1.799056 5.64 0.0930185 5.051 0.65663 1.4 0.254 0 1.6286115 #N/A
34.29649 4.93633 0.34 1.966012 6.246 0.1206313 5.718 0.74334 1.51 0.295 0 1.8997087 #N/A
33.33323 5.63678 0.35 2.101995 7.174 0.1406525 6.234 0.81042 1.58 0.306 0 1.6157675 #N/A
38.69409 6.09593 0.41 2.246892 8.066 0.099449 6.077 0.79001 1.68 0.332 0 0.713561 #N/A
38.8957 6.64046 0.44 2.434989 8.231 0.0934833 6.713 0.87269 1.84 0.315 0 1.4162067 #N/A
38.87715 6.94787 0.43 2.40073 8.421 0.1 6.88 0.9 1.9 0.331 0 1.49 #N/A
37.77273 6.31542 0.2 2.259796 6.402 0 4.869 0.63297 #N/A #N/A 0 #N/A #N/A
37.47521 6.49783 0.1 2.544 11.036 0 3.937 0.47244 #N/A #N/A 0 #N/A #N/A
43.1042 6.7084 0.1 2.899382 20.64 0 6.214 0.68354 #N/A #N/A 0 #N/A #N/A
52.13251 7.64369 0.1 3.338792 27.554 0 6.013 0.6013 #N/A #N/A 0 #N/A #N/A
60.73952 9.20153 0.1 3.325719 22.306 0 4.723 0.42507 #N/A #N/A 0 #N/A #N/A
89.24962 14.0439 2.9 4.3801 35.799 0.083 11.88 0.9504 1.43 0 0 -21.6216 -21.6216
127.2364 23.6623 2.5 3.59689 49.905 0.255 26.894 1.96 1.6 -2.846 3.296 -19.256 -19.256
115.3015 20.7739 2 3.61951 22.754 0.276 19.772 0.8 1.9 2.987 0.86 3.289 3.289
135.8259 21.8921 1.8 7.04892 2.825
140.2382 21.6199 1.4 6.05109 7.618
164.6395 30.8853 1.7 8.54296 11.573
182.0875 28.5125 1.9 7.59018 12.279
218.1552 40.1814 2.3 15.4514 10.852
252.5054 35.162 2.6 11.8541 11.172
251.0768 42.0147 3.6 17.5409 11.16
273.3043 53 4 20.1597 13.997
276.4941 63.1347 4.5 31.0733 17.322
270.1614 49.0106 5.2 21.1837 1.849
250.5058 30.3996 5 17.1943 -5.283001
251.4849 28.8054 4.2 13.1796 -8.887999
228.515 24.1489 3.7 13.0666 -2.881001
214.7185 20.0725 3.8 10.3233 -1.781
218.897 24.0395 3.8 8.34166 -5.851
275.0288 40.9126 4.6 10.8183 -11.441
323.0002 37 5 11 -4.764998
319.5771 36.419 4.5 9.42213 -8.588301
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GDP GNP Preferred Change in Savings Investment Ratio of
GDP Stocks Stocks to
PIB en Valeur PIB en Valeur Production Variations GDP
Calculee par La Calculee par Les Interieure de Stocks
Demande Revenus Brute = PIBQ-PIBVAL
PIBVAL PIBE PIBQ DS S =I-CAD I = IE+IG+IM
= PIBVAL-CM-CG+CAD+DS
p. 445 p. 445 p. 459 p. 457
31.90366 #N/A 33.10241 1.28508 5.4010095 6.33561 0.038821343
30.9876 #N/A 31.35537 0.474144 4.4174209 5.447927 0.01512162
32.46129 #N/A 33.82758 1.413769 6.1856242 6.622508 0.041793383
34.78728 #N/A 35.54974 0.8171921 5.2693739 6.4135791 0.022987288
36.10806 #N/A 36.09178 -0.016926 4.8844758 5.900023 -0.000468971
35.37482 #N/A 34.1741 -1.20133 3.3906435 4.491887 -0.03515323
33.76339 #N/A 34.32175 0.5577545 4.7860123 6.1639015 0.016250759
35.14201 #N/A 35.90874 0.7660942 5.3153433 6.4118932 0.021334477
37.25805 #N/A 36.86476 -0.393936 3.7174063 5.363145 -0.010685978
36.59497 #N/A 38.04276 1.447113 5.3527598 7.290991 0.038039117
36.97224 #N/A 38.38391 1.410988 5.8554279 7.553945 0.036759882
39.95245 #N/A 41.85845 1.905254 6.9962521 8.631601 0.045516592
40.04697 #N/A 41.18273 1.135025 6.2785495 7.907161 0.027560703
42.71416 #N/A 42.96612 0.251194 5.5938273 7.493536 0.005846327
42.28243 #N/A 42.21996 -0.063217 6.4097905 8.025558 -0.001497325
47.38792 #N/A 46.08995 -1.29879 6.740471 7.454032 -0.028179462
48.99584 #N/A 51.17573 2.178978 10.2782203 11.694427 0.042578347
49.38475 #N/A 50.82827 1.442623 9.731223 11.221223 0.028382296
#N/A #N/A 45.07771 #N/A #N/A #N/A #N/A
#N/A #N/A 45.09825 #N/A #N/A #N/A #N/A
#N/A #N/A 59.59351 #N/A #N/A #N/A #N/A
#N/A #N/A 70.72169 #N/A #N/A #N/A #N/A
#N/A #N/A 78.24081 #N/A #N/A #N/A #N/A
94.30501 #N/A 104.9858 10.6808 53.6264 32.0048 0.101735663
141.5446 162.5502 159.4548 17.91028 66.92547 47.66947 0.112321987
144.1129 162.56 128.5659 -15.547 7.55741 10.84641 -0.120926311
168.4709 174.406 159.9071 -8.56381 19.35221 22.17721 -0.053554908
171.4972 195.7103 189.8302 18.33296 39.78595 47.40395 0.096575571
212.5138 226.3099 241.8183 29.30458 58.85984 70.43284 0.121184294
226.9702 250.5998 265.8051 38.8349 64.55858 76.83758 0.146102915
283.048 312.5397 330.6204 47.57236 94.65316 105.50516 0.143888157
311.2765 322.4446 342.5269 31.25034 69.69444 80.86644 0.091234703
320.8714 346.4445 356.0739 35.20245 87.19805 98.35805 0.098862764
352.142 370.9822 400.1536 48.0116 111.1743 125.1713 0.119982927
376.5461 361.724 392.1977 15.65158 97.03758 114.35958 0.039907373
347.0457 338.6109 365.5605 18.51477 92.06007 93.90907 0.050647622
306.3167 300.1201 316.4882 10.17148 68.048381 62.76538 0.032138576
300.2729 291.9535 312.7985 12.52557 67.598569 58.71057 0.040043574
276.2435 264.7417 297.2907 21.04718 64.843681 61.96268 0.070796631
256.9963 256.5206 280.1029 23.1066 59.0834 57.3024 0.082493255
260.6161 286.0035 281.2697 20.65356 62.68572 56.83472 0.073429737
335.4877 348.5989 349.3078 13.8201 81.592 70.151 0.039564247
388.5252 396.94 395.83 7.304779 65.069777 60.304779 0.018454334
417.7299 #N/A 453.2554 35.52554 94.454971 85.86667 0.078378636
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FRANCE
US Mint Data NBER Data
Net Exports Exchange Net Exports Net Exports Net Exports Net Gold Bank of France Excess of Gold Bank of France Gold Coin Bank of France Bank of France
Gold Rate Gold Silver Silver Exports Metallic Reserve Exports over Metallic Reserve Minted Coin & Bullion Coin & Bullion
(Gold & Silver) Imports (Gold & Silver) Silver and Gold Gold
End December NBER: 14114 NBER: 14100
m US $ FFr per US $ m FFr m US $ m FFr 000 F m FFr 000 F mF mF mF m FFr
350.4
1850 -24.318 0.193 -126 -19.6015625 -101.5625 Jan-65 322 85.192 457.8
1851 -24.318 0.193 -126 -19.6015625 -101.5625 Feb-65 372 269.71 569.6
1852 -24.318 0.193 -126 -19.6015625 -101.5625 Mar-65 456 27.028 584.8
1853 -55.788387 0.193 -289.059 22.558805 116.885 Apr-65 443 312.964 452.8
1854 -80.311546 0.193 -416.122 31.592942 163.694 May-65 486 526.528 404.5
1855 -42.120899 0.193 -218.243 38.05188 197.16 Jun-65 513 447.428 340.5
1856 -72.423829 0.193 -375.253 54.739239 283.623 Jul-65 494 508.282 224.6
1857 -86.043646 0.193 -445.822 69.44526 359.82 Aug-65 499 572.561 228.4
1858 -94.011265 0.193 -487.105 2.88342 14.94 Sep-65 493 488.69 460.4
1859 -104.093199 0.193 -539.343 33.103939 171.523 Oct-65 431 702.698 570
1860 -60.157907 0.193 -311.699 30.347899 157.243 Nov-65 416 428.452 513.5
1861 4.580662 0.193 23.734 11.929909 61.813 Dec-65 444 98.216 368.6
1862 -31.852334 0.193 -165.038 16.631003 86.171 Jan-66 391 214.242 369.2
1863 -2.311368 0.193 -11.976 13.189813 68.341 Feb-66 443 210.231 304.9
1864 -24.152406 0.193 -125.142 8.197482 42.474 322 Mar-66 508 273.844 252.1
1865 -29.109032 0.193 -150.824 -14.009098 -72.586 0 444 Apr-66 518 161.887 439.6
1866 -89.793636 0.193 -465.252 -8.678245 -44.965 0 714 May-66 563 365.083 588.3
1867 -78.874082 0.193 -408.674 -36.602257 -189.649 0 1015 Jun-66 650 198.58 845
1868 -41.082559 0.193 -212.863 -21.090075 -109.275 0 1108 Jul-66 690 340.077 1174
1869 -52.946462 0.193 -274.334 -21.505025 -111.425 0 1247 Aug-66 745 234.186 1190
1870 -23.114838 0.193 -119.766 -6.845131 -35.467 0 869 Sep-66 727 55.395 1131
1871 41.266102 0.193 213.814 -2.994781 -15.517 0 635 Oct-66 658 50.17 551
1872 10.208349 0.193 52.893 -19.73425 -102.25 0 791 Nov-66 665 0 728
1873 20.967327 0.193 108.639 -35.029114 -181.498 0 760 Dec-66 714 0 763
1874 -83.23125 0.193 -431.25 -69.660262 -360.934 0 1326 Jan-67 672 24.23 1130
1875 -90.771953 0.193 -470.321 -35.771006 -185.342 0 1675 Feb-67 729 234.912 1541
1876 -97.204836 0.193 -503.652 -27.100288 -140.416 -503653 2180 Mar-67 774 176.493 1987
1877 -84.097048 0.193 -435.736 -20.45028 -105.96 -435736 2065 Apr-67 781 255.181 2196
1878 -45.625972 0.193 -236.404 -22.934962 -118.834 -236404 2072 May-67 832 185.318 2073
1879 32.330974 0.193 167.518 -14.602959 -75.663 160960 1991 Jun-67 884 24.611 2115
1880 41.132546 0.193 213.122 -7.486084 -38.788 213122 1787 Jul-67 879 0 1974 653.6710526
1881 -2.00527 0.193 -10.39 -9.860949 -51.093 -10390 1817 Aug-67 949 2.167 604
1882 -91373 2056 Sep-67 957 3.742 907
1883 70294 1963 Oct-67 918 0 983
1884 -45549 2049 Nov-67 969 0 1021
1885 -42498 2243 Dec-67 1015 0.289 1103
1886 -62804 2385 Jan-68 1043 23.587 1302
1887 164910 2310 Feb-68 1127 24.668 1189
1888 91359 2251 Mar-68 1169 0.554 1088
1889 -208224 2521 Apr-68 1140 17.478 1153
1890 133120 2372 May-68 1198 20.603 1256
1891 -127079 2592 Jun-68 1220 17.422 1279
1892 -276428 2979 Jul-68 1226 4.514 1547
1893 -188600 2974 Aug-68 1310 50.943 1685
1894 -353942 3312 Sep-68 1298 9.831 1821
1895 -9494 3185 Oct-68 1206 108.007 2048
1896 10055 3143 Nov-68 1156 112.538 1978
1897 -158853 3159 Dec-68 1108 221.386 1963
1898 113799 3030 Jan-69 1070 177.327 1875
1899 -156859 3031 Feb-69 1123 53.985 1866
1900 -333543 3447 Mar-69 1184 30.049 2103
1901 -283982 3567 Apr-69 1184 74.879 2410
1902 -313486 3650 May-69 1228 48.874 2548
1903 -184369 3462 Jun-69 1222 89.113 2492
1904 -533745 3761 Jul-69 1196 157.125 2564
1905 -648154 3953 Aug-69 1226 198.414 2855
1906 -270486 3704 Sep-69 1231 331.938 2882
1907 -289858 3615 Oct-69 1227 389.957 2703
1908 -994124 4371 Nov-69 1235 153.234 3052
1909 -182035 4371 Dec-69 1247 200.727 3630
1910 -57907 4106 Jan-70 1202 136.684 3400
1911 -125117 4011 Feb-70 1236 128.736 3206
1912 -169651 3896 Mar-70 1300 226.196 3239
1913 -511387 4158 Apr-70 1298 246.281 3343
1914 -772443 4514 May-70 1297 160.761 3880
1915 5367 Jun-70 1298 0 4340
1916 5371 Jul-70 1144 0 4935
1917 5599 Aug-70 869 0 5255
1918 5795 Sep-70 1E-37 0 5409
1919 5846 Oct-70 1E-37 0 5551
1920 5766 Nov-70 1E-37 0 5559
1921 5804 Dec-70 869 4.242 5516
1922 5824 Jan-71 1E-37 0 5529
1923 5837 Feb-71 1E-37 0 5537
1924 5851 Mar-71 1E-37 0 5543
1925 5869 Apr-71 1E-37 0 5547
1926 5890 May-71 1E-37 0 5548
1927 5887 Jun-71 550 0 5546
1928 31977 Jul-71 643 0 31838
1929 41668 Aug-71 650 0 38911
1930 53578 Sep-71 616 0 45726
1931 68863 Oct-71 628 0 58678
1932 83017 Nov-71 634 0 79350
1933 77098 Dec-71 635 0 81062
1934 82124 Jan-72 637 0 78875
1935 66296 Feb-72 656 610.21 75281
1936 60359 Mar-72 678 768.864 59578
1937 58932 Apr-72 702 0 56542
1938 87265 May-72 725 0 56147
1939 97267 Jun-72 740 0 92939
1940 Jul-72 741 0 97270
1941 Aug-72 784 0 84607
1942 Sep-72 782 0 84598
1943 Oct-72 789 0 84598
1944 Nov-72 791 0 84598
1945 Dec-72 791 0 72707
Jan-73 791
Feb-73 791
Mar-73 803
Apr-73 809
May-73 818
Jun-73 769
Jul-73 748
Aug-73 717
Sep-73 713
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Nov-73 732
Dec-73 760
Jan-74 841
Feb-74 934
Mar-74 1028
Apr-74 1174
May-74 1128
Jun-74 1174
Jul-74 1250
Aug-74 1275
Sep-74 1276
Oct-74 1269
Nov-74 1297
Dec-74 1326
Jan-75 1355
Feb-75 1486
Mar-75 1528
Apr-75 1535
May-75 1560
Jun-75 1583
Jul-75 1562
Aug-75 1577
Sep-75 1627
Oct-75 1606
Nov-75 1607
Dec-75 1675
Jan-76 -54569 1697
Feb-76 -67903 1777
Mar-76 -67176 1886
Apr-76 -47651 1927
May-76 -52076 2002
Jun-76 -60401 2062
Jul-76 -44255 2088
Aug-76 -36413 2101
Sep-76 116 2112
Oct-76 -27796 2133
Nov-76 -27640 2168
Dec-76 -17889 2180
Jan-77 -50760 2192
Feb-77 -47656 2231
Mar-77 -34115 2233
Apr-77 -16269 2204
May-77 -75907 2266
Jun-77 -26930 2274
Jul-77 -31110 2203
Aug-77 -12828 2212
Sep-77 -87132 2213
Oct-77 -12411 2146
Nov-77 -12921 2100
Dec-77 -27697 2065
Jan-78 -15607 1976
Feb-78 -13328 1968
Mar-78 -25333 2003
Apr-78 -39541 2025
May-78 -33788 2090
Jun-78 -45169 2147
Jul-78 -46664 2166
Aug-78 -25662 2183
Sep-78 771 2153
Oct-78 37571 2052
Nov-78 -8017 2084
Dec-78 -21637 2072
Jan-79 -9824 2027
Feb-79 -10084 2061
Mar-79 851 2112
Apr-79 -10073 2149
May-79 -4515 2209
Jun-79 209 2248
Jul-79 -5558 2215
Aug-79 -7320 2232
Sep-79 15661 2135
Oct-79 132836 2304
Nov-79 47388 1981
Dec-79 11389 1991
Jan-80 1504 1981
Feb-80 -5009 2044
Mar-80 -9018 2092
Apr-80 23488 2039
May-80 24581 2044
Jun-80 9641 2048
Jul-80 13967 2018
Aug-80 -5650 2020
Sep-80 2058 1963
Oct-80 24098 1822
Nov-80 62019 1778
Dec-80 71443 1787
Jan-81 3123 1761
Feb-81 1062 1765
Mar-81 -14506 1826
Apr-81 7742 1824
May-81 -5948 1857
Jun-81 -15305 1891
Jul-81 -11919 1874
Aug-81 -11820 1868
Sep-81 6602 1839
Oct-81 3854 1801
Nov-81 21163 1810
Dec-81 5562 1817
Jan-82 -18763 1836
Feb-82 -115696 1958
Mar-82 -3597 2001
Apr-82 6492 2031
May-82 -404 2071
Jun-82 -10879 2133
Jul-82 -14201 2137
Aug-82 -30251 2150
Sep-82 2767 2134
Oct-82 39466 2089
Nov-82 15550 2062
Dec-82 38143 2056
Jan-83 5798 2034
Feb-83 1097 2076
Mar-83 33 2052
Apr-83 175 2046
May-83 -3516 2059
Jun-83 1450 2055
Jul-83 2843 2029
144F Page 144p of 144P Aug-83 23759 2014 144T 144D
Sep-83 11549 2004
Oct-83 13041 1984
Nov-83 7808 1969
Dec-83 6257 1963
Jan-84 -5543 1946
Feb-84 -10437 1988
Mar-84 -4138 2007
Apr-84 -2399 2005
May-84 -14938 2048
Jun-84 -5525 2060
Jul-84 -1829 2060
Aug-84 -5620 2085
Sep-84 -3912 2090
Oct-84 -11476 2084
Nov-84 6999 2064
Dec-84 13269 2049
Jan-85 21294 2028
Feb-85 1139 2044
Mar-85 15209 2071
Apr-85 -62642 2116
May-85 -2709 2163
Jun-85 -20752 2234
Jul-85 -12630 2241
Aug-85 -15240 2272
Sep-85 -5108 2280
Oct-85 8804 2242
Nov-85 4551 2256
Dec-85 25586 2243
Jan-86 10875 2236
Feb-86 -10084 2284
Mar-86 -13357 2369
Apr-86 -51912 2424
May-86 -80613 2524
Jun-86 -28413 2514
Jul-86 96 2484
Aug-86 11450 2499
Sep-86 3093 2506
Oct-86 7965 2479
Nov-86 32108 2450
Dec-86 55988 2385
Jan-87 33425 2355
Feb-87 4898 2370
Mar-87 5687 2347
Apr-87 9715 2347
May-87 -3244 2374
Jun-87 -3085 2390
Jul-87 -766 2388
Aug-87 1883 2398
Sep-87 19209 2374
Oct-87 20409 2336
Nov-87 19911 2331
Dec-87 56868 2310
Jan-88 6183 2282
Feb-88 -3813 2313
Mar-88 9212 2314
Apr-88 28147 2314
May-88 -7332 2333
Jun-88 -4764 2338
Jul-88 -2373 2329
Aug-88 4133 2327
Sep-88 17615 2300
Oct-88 27313 2250
Nov-88 6489 2250
Dec-88 10549 2251
Jan-89 -3747 2231
Feb-89 3389 2242
Mar-89 1125 2249
Apr-89 -7079 2249
May-89 -351 2284
Jun-89 -67443 2399
Jul-89 -102843 2486
Aug-89 -20399 2590
Sep-89 -48165 2584
Oct-89 11235 2546
Nov-89 15455 2538
Dec-89 10599 2521
Jan-90 6682 2495
Feb-90 8346 2500
Mar-90 1761 2516
Apr-90 -16008 2541
May-90 -15324 2578
Jun-90 -4884 2591
Jul-90 -339 2582
Aug-90 10903 2584
Sep-90 27231 2528
Oct-90 34204 2446
Nov-90 81796 2361
Dec-90 -1248 2372
Jan-91 -5687 2376
Feb-91 -76658 2458
Mar-91 3169 2463
Apr-91 -9490 2489
May-91 -19765 2557
Jun-91 -38878 2604
Jul-91 -48568 2631
Aug-91 12581 2633
Sep-91 41667 2595
Oct-91 17242 2564
Nov-91 2071 2588
Dec-91 -4763 2592
Jan-92 -12553 2607
Feb-92 -14078 2644
Mar-92 -115 2681
Apr-92 -31631 2726
May-92 -55074 2841
Jun-92 -54118 2882
Jul-92 -18461 2920
Aug-92 -39492 2965
Sep-92 -32227 2969
Oct-92 -318 2955
Nov-92 1204 2964
Dec-92 -19565 2979
Jan-93 -45549 2790
Feb-93 -47535 2921
Mar-93 -48680 2934
Apr-93 -2897 2952
May-93 -22243 2995
145F Page 145p of 145P Jun-93 -15372 2997 145T 145D
Jul-93 -3117 2996
Aug-93 13102 2968
Sep-93 13301 2956
Oct-93 -31220 2964
Nov-93 5596 2975
Dec-93 -3986 2974
Jan-94 -9177 2963
Feb-94 -2078 2981
Mar-94 -9919 2999
Apr-94 -9500 3016
May-94 -11 3054
Jun-94 -27433 3066
Jul-94 -60070 3118
Aug-94 -48758 3171
Sep-94 -19348 3164
Oct-94 -23698 3142
Nov-94 -85677 3226
Dec-94 -58273 3312
Jan-95 -61497 3355
Feb-95 -39841 3387
Mar-95 -28204 3349
Apr-95 43774 3299
May-95 3971 3302
Jun-95 -1985 3306
Jul-95 -11609 3309
Aug-95 -18372 3315
Sep-95 -3121 3274
Oct-95 55299 3192
Nov-95 20142 3192
Dec-95 31949 3185
Jan-96 -1249 3173
Feb-96 -2594 3200
Mar-96 -9834 3207
Apr-96 -11254 3196
May-96 -19478 3251
Jun-96 -52418 3303
Jul-96 -53124 3322
Aug-96 -20365 3323
Sep-96 95826 3220
Oct-96 36656 3169
Nov-96 16924 3164
Dec-96 30965 3143
Jan-97 -5145 3139
Feb-97 -8505 3149
Mar-97 -6712 3145
Apr-97 -3998 3144
May-97 -12913 3204
Jun-97 -52464 3237
Jul-97 -27263 3246
Aug-97 -7297 3262
Sep-97 -51799 3206
Oct-97 28891 3166
Nov-97 389 3175
Dec-97 -12037 3159
Jan-98 -14474 3138
Feb-98 -12517 3145
Mar-98 -4140 3080
Apr-98 548 3075
May-98 87536 3097
Jun-98 30346 3115
Jul-98 -12111 3119
Aug-98 18905 3131
Sep-98 -5203 3110
Oct-98 21168 3069
Nov-98 1992 3048
Dec-98 1749 3030
Jan-99 -25603 3020
Feb-99 -18725 3028
Mar-99 -5439 3014
Apr-99 -876 3025
May-99 -14017 3053
Jun-99 -6396 3104
Jul-99 -41394 3122
Aug-99 -14521 3124
Sep-99 -43594 3111
Oct-99 2280 3062
Nov-99 20609 3057
Dec-99 -9183 3031
Jan-00 -31846 3040
Feb-00 -11431 3064
Mar-00 -16276 3085
Apr-00 -18149 3079
May-00 -27427 3182
Jun-00 -39099 3260
Jul-00 -65976 3323
Aug-00 -70570 3386
Sep-00 -5729 3394
Oct-00 -6137 3407
Nov-00 -73 3437
Dec-00 -40830 3447
Jan-01 -39119 3449
Feb-01 -22359 3476
Mar-01 -41833 3477
Apr-01 -3059 3536
May-01 -21373 3572
Jun-01 -20043 3585
Jul-01 -43983 3575
Aug-01 11051 3560
Sep-01 33165 3503
Oct-01 -15003 3472
Nov-01 -56625 3562
Dec-01 -64801 3567
Jan-02 -15876 3558
Feb-02 -28138 3608
Mar-02 -86411 3662
Apr-02 -43868 3684
May-02 -7112 3692
Jun-02 -10665 3695
Jul-02 -47724 3713
Aug-02 -37157 3747
Sep-02 -6854 3710
Oct-02 -10902 3644
Nov-02 -7595 3651
Dec-02 -11184 3650
Jan-03 -18102 3606
Feb-03 -31557 3630
Mar-03 -16698 3626
146F Page 146p of 146P Apr-03 -2474 3602 146T 146D
May-03 -2074 3618
Jun-03 -33327 3640
Jul-03 -95588 3687
Aug-03 -10455 3678
Sep-03 14443 3627
Oct-03 15341 3522
Nov-03 -5996 3507
Dec-03 2118 3462
Jan-04 -5575 3449
Feb-04 -2960 3452
Mar-04 -27571 3447
Apr-04 -48343 3549
May-04 -265212 3861
Jun-04 -129727 3909
Jul-04 3996 3846
Aug-04 17308 3811
Sep-04 19253 3753
Oct-04 -5236 3709
Nov-04 -52730 3758
Dec-04 -36948 3761
Jan-05 -40931 3794
Feb-05 -73649 3924
Mar-05 -90904 3866
Apr-05 -31814 3892
May-05 -5577 3980
Jun-05 -94446 3994
Jul-05 -80653 4044
Aug-05 -46430 4079
Sep-05 -154793 4065
Oct-05 13086 4011
Nov-05 -7093 3983
Dec-05 -34950 3953
Jan-06 -54167 3911
Feb-06 -31762 3920
Mar-06 -77815 3974
Apr-06 -94059 4050
May-06 26460 4004
Jun-06 -11091 4017
Jul-06 -22670 3984
Aug-06 -18294 3970
Sep-06 275 3918
Oct-06 -3842 3853
Nov-06 -426 3766
Dec-06 16905 3704
Jan-07 13667 3632
Feb-07 -900 3622
Mar-07 23353 3584
Apr-07 -17032 3570
May-07 -37685 3636
Jun-07 -58108 3755
Jul-07 -127343 3795
Aug-07 -23099 3776
Sep-07 -26036 3751
Oct-07 -42056 3723
Nov-07 21363 3632
Dec-07 -15982 3615
Jan-08 -28313 3595
Feb-08 -74201 3672
Mar-08 -39927 3672
Apr-08 -78405 3752
May-08 -162039 3959
Jun-08 -115344 4072
Jul-08 -67660 4099
Aug-08 -52149 4140
Sep-08 -56534 4145
Oct-08 -96806 4185
Nov-08 -91726 4274
Dec-08 -131020 4371
Jan-09 -107462 4520
Feb-09 -35254 4528
Mar-09 -140 4492
Apr-09 -37013 4503
May-09 -54305 4575
Jun-09 -37347 4607
Jul-09 -12773 4599
Aug-09 -9129 4608
Sep-09 42746 4534
Oct-09 21003 4516
Nov-09 28677 4462
Dec-09 18962 4371
Jan-10 -30785 4352
Feb-10 -27993 4357
Mar-10 20433 4332
Apr-10 2125 4290
May-10 -3437 4300
Jun-10 7936 4286
Jul-10 -4022 4254
Aug-10 -12419 4243
Sep-10 -6376 4215
Oct-10 3313 4156
Nov-10 7931 4132
Dec-10 -14613 4106
Jan-11 -14971 4073
Feb-11 -9280 4094
Mar-11 9759 4081
Apr-11 7952 4078
May-11 15156 4094
Jun-11 -7502 4064
Jul-11 22455 4043
Aug-11 303 4013
Sep-11 -8043 3923
Oct-11 -72021 3932
Nov-11 -46721 4017
Dec-11 -22204 4011
Jan-12 -13831 3994
Feb-12 -14209 4038
Mar-12 -12091 4056
Apr-12 -4133 4048
May-12 -3377 4066
Jun-12 -6750 4083
Jul-12 -42155 4096
Aug-12 -4404 4082
Sep-12 -7866 4035
Oct-12 -28338 3978
Nov-12 -6771 3962
Dec-12 -25726 3896
Jan-13 -37171 3851
147F Page 147p of 147P Feb-13 -27629 3842 147T 147D
Mar-13 -44053 3842
Apr-13 -21114 3849
May-13 -46946 3917
Jun-13 -26301 3941
Jul-13 -36131 3990
Aug-13 -42701 4081
Sep-13 -96982 4092
Oct-13 -45126 4110
Nov-13 -49476 4169
Dec-13 -37757 4158
Jan-14 -41431 4174
Feb-14 -58882 4244
Mar-14 -35683 4260
Apr-14 -32951 4276
May-14 -70591 4363
Jun-14 -270422 4614
Jul-14 -179054 4767
Aug-14 -81283 1E-37
Sep-14 -2146 4411
Oct-14 1E-37 1E-37
Nov-14 1E-37 1E-37
Dec-14 1E-37 4514
Jan-15 4600
Feb-15 4616
Mar-15 c EXCESS OF GOLD4626 EXPORTS OVER GOLD IMPORTS
Apr-15 c NBER SERIES: 14114 4546
May-15 c AREA COVERED: FRANCE 4289
Jun-15 c UNITS: THOUSANDS OF FRANCS 4300
Jul-15 c ANNUAL COVERAGE: NONE 4497
Aug-15 c QUARTERLY COVERAGE: NONE 4633
Sep-15 c 4914
MONTHLY COVERAGE: 01/1876-09/1914
Oct-15 c SEASONAL ADJUSTMENT: NONE 5093
Nov-15 c 5197
SOURCE: FOR 1876-1899: L'ECONOMISTE FARNCAIS; FOR
Dec-15 c 1900-06/1906: U.S. 5367 NATIONAL MONETARY COMMISSION,
Jan-16 c 5365
PUBLICATIONS, VOL. 21, P.346; FOR 07/1906-1914:
Feb-16 c 5396
STATISTIQUE MENSUELLE DU COMMERCE EXTERIEUR DE LA
Mar-16 c 5368
FRANCE (PRIMARY SOURCE BUT NOT AVAILABLE IN EARLIER
Apr-16 c YEARS). 5162
May-16 c 5084
Jun-16 c NOTES: FIGURES, 5107 EXCEPT FOR NATIONAL MONETARY COMMISSION
Jul-16 c 5126
FIGURES, ARE COMPUTED FROM CUMULATIVE MONTHLY TOTALS
Aug-16 c ADDED TOGETHER FROM BULLION ( 5151
Sep-16 c L'INGOTS 5170
Oct-16 c 5250
09/1879 BASED IN PART ON STRAIGHT LINE INTERPOLATED
Nov-16 c FIGURES. 5359
Dec-16 c 5371
09/1879-10/1879, DUE TO MISPRINTS IN BASIC FIGURES,
Jan-17 c 5403
BASED IN PART ON STRAIGHT LINE INTERPOLATED FIGURES.
Feb-17 c 5415
Mar-17 c 5464
CHECKED MANUALLY; NO CORECTIONS NECESSARY.
Apr-17 c 5499
...........................................................
May-17 -12 5531
Jun-17 5548
Jul-17 5561
Aug-17 5572
Sep-17 5580
Oct-17 5581
Nov-17 5580
Dec-17 5599
Jan-18 5610
Feb-18 5623
Mar-18 5628
Apr-18 5635
May-18 5636
Jun-18 5683
Jul-18 5708
Aug-18 5755
Sep-18 5759
Oct-18 5763
Nov-18 5781
Dec-18 5795
Jan-19 5821
Feb-19 5841
Mar-19 5855
Apr-19 5857
May-19 5856
Jun-19 5855
Jul-19 5867
Aug-19 5869
Sep-19 5867
Oct-19 5863
Nov-19 5861
Dec-19 5846
Jan-20 5835
Feb-20 5832
Mar-20 5830
Apr-20 5830
May-20 5827
Jun-20 5829
Jul-20 5837
Aug-20 5845
Sep-20 5735
Oct-20 5749
Nov-20 5756
Dec-20 5766
Jan-21 5769
Feb-21 5767
Mar-21 5771
Apr-21 5785
May-21 5790
Jun-21 5794
Jul-21 5796
Aug-21 5799
Sep-21 5800
Oct-21 5801
Nov-21 5803
Dec-21 5804
Jan-22 5805
Feb-22 5806
Mar-22 5808
Apr-22 5810
May-22 5811
Jun-22 5814
Jul-22 5815
Aug-22 5817
Sep-22 5819
Oct-22 5821
Nov-22 5823
148F Page 148p of 148P Dec-22 5824 148T 148D
Jan-23 5825
Feb-23 5826
Mar-23 5828
Apr-23 5828
May-23 5829
Jun-23 5830
Jul-23 5832
Aug-23 5832
Sep-23 5833
Oct-23 5835
Nov-23 5836
Dec-23 5837
Jan-24 5838
Feb-24 5839
Mar-24 5839
Apr-24 5841
May-24 5842
Jun-24 5843
Jul-24 5843
Aug-24 5844
Sep-24 5845
Oct-24 5847
Nov-24 5849
Dec-24 5851
Jan-25 5850
Feb-25 5851
Mar-25 5855
Apr-25 5863
May-25 5861
Jun-25 5859
Jul-25 5859
Aug-25 5858
Sep-25 5857
Oct-25 5857
Nov-25 5863
Dec-25 5869
Jan-26 5873
Feb-26 5877
Mar-26 5879
Apr-26 5882
May-26 5883
Jun-26 5885
Jul-26 5886
Aug-26 5887
Sep-26 5887
Oct-26 5887
Nov-26 5888
Dec-26 5890
Jan-27 5888
Feb-27 5889
Mar-27 5889
Apr-27 5888
May-27 5890
Jun-27 5891
Jul-27 5889
Aug-27 5889
Sep-27 5889
Oct-27 5887
Nov-27 5887
Dec-27 5887
Jan-28 5887
Feb-28 5887
Mar-28 5887
Apr-28 5886
May-28 5886
Jun-28 28990
Jul-28 29918
Aug-28 30351
Sep-28 30623
Oct-28 30786
Nov-28 31600
Dec-28 31977
Jan-29 33995
Feb-29 34038
Mar-29 34186
Apr-29 35788
May-29 36596
Jun-29 36625
Jul-29 37300
Aug-29 38930
Sep-29 39411
Oct-29 40051
Nov-29 40808
Dec-29 41668
Jan-30 42921
Feb-30 42855
Mar-30 42557
Apr-30 42351
May-30 43809
Jun-30 44052
Jul-30 45283
Aug-30 47242
Sep-30 48431
Oct-30 50807
Nov-30 51967
Dec-30 53578
Jan-31 55510
Feb-31 55924
Mar-31 56116
Apr-31 55616
May-31 55634
Jun-31 56426
Jul-31 58407
Aug-31 58563
Sep-31 59346
Oct-31 64648
Nov-31 67844
Dec-31 68863
Jan-32 71625
Feb-32 75059
Mar-32 76831
Apr-32 77862
May-32 79470
Jun-32 82100
Jul-32 82167
Aug-32 82239
Sep-32 82681
149F Page 149p of 149P Oct-32 82909 149T 149D
Nov-32 83342
Dec-32 83017
Jan-33 82167
Feb-33 81017
Mar-33 80409
Apr-33 80866
May-33 80951
Jun-33 81243
Jul-33 81976
Aug-33 82227
Sep-33 82095
Oct-33 81032
Nov-33 77822
Dec-33 77098
Jan-34 77055
Feb-34 73971
Mar-34 74613
Apr-34 75756
May-34 77466
Jun-34 79548
Jul-34 80252
Aug-34 82037
Sep-34 82281
Oct-34 82476
Nov-34 82097
Dec-34 82124
Jan-35 82014
Feb-35 82040
Mar-35 82635
Apr-35 80933
May-35 71779
Jun-35 71017
Jul-35 71277
Aug-35 71742
Sep-35 71952
Oct-35 71990
Nov-35 66191
Dec-35 66296
Jan-36 65223
Feb-36 65789
Mar-36 65587
Apr-36 61937
May-36 57022
Jun-36 53999
Jul-36 54942
Aug-36 54511
Sep-36 50111
Oct-36 64359
Nov-36 64359
Dec-36 60359
Jan-37 57359
Feb-37 57359
Mar-37 57359
Apr-37 57359
May-37 57359
Jun-37 54859
Jul-37 55677
Aug-37 55718
Sep-37 55805
Oct-37 55805
Nov-37 58932
Dec-37 58932
Jan-38 58933
Feb-38 55807
Mar-38 55807
Apr-38 55807
May-38 55808
Jun-38 55808
Jul-38 55808
Aug-38 55808
Sep-38 55808
Oct-38 55808
Nov-38 87264
Dec-38 87265
Jan-39 87266
Feb-39 87266
Mar-39 87266
Apr-39 92266
May-39 92266
Jun-39 92266
Jul-39 92266
Aug-39 97266
Sep-39 97266
Oct-39 97266
Nov-39 97266
Dec-39 97267
Jan-40 97268
Feb-40 97275
Mar-40 1E-37
Apr-40 1E-37
May-40 1E-37
Jun-40 1E-37
Jul-40 1E-37
Aug-40 1E-37
Sep-40 1E-37
Oct-40 1E-37
Nov-40 1E-37
Dec-40 1E-37
Jan-41 c METALLIC RESERVE, BANK OF FRANCE
Feb-41 c NBER SERIES: 14100
Mar-41 c AREA COVERED: FRANCE
Apr-41 c UNITS: MILLIONS OF FRANCS
May-41 c ANNUAL COVERAGE: NONE
Jun-41 c QUARTERLY COVERAGE: NONE
Jul-41 c MONTHLY COVERAGE: 01/1865-02/1940
Aug-41 c SEASONAL ADJUSTMENT: NONE
Sep-41 c SOURCE: ECONOMIST FOR 1865-1872; L'ECONOMISTE
Oct-41 c FRANCAIS FOR 1873-1878; BULLETIN DE STATISTIQUE ET
Nov-41 c DE LEGISLATION COMPAREE (FINANCE MINISTRY) FOR 1879-
Dec-41 c 1913; ANNUAIRE STATISTIQUE FOR 1914-1933; L'ECONOMISTE
Jan-42 c FRANCAIS FOR 1934-1940.
Feb-42 c
Mar-42 c NOTES: METALLIC RESERVES CONSIST OF GOLD AND SILVER
Apr-42 c UNTIL JUNE 1928 W HEN IT BECAME GOLD ONLY.
May-42 c LAST THURSDAY OF MONTH UNTIL MAY 1928. THEREAFTER
Jun-42 c FRIDAY IN MONTH.
Jul-42 c 09/1870-05/1871, 08/1914, AND 10/1914-11/1914 FIGURES
150F Page 150p of 150P Aug-42 c NOT GIVEN. 150T 150D
Sep-42 c IN JUNE 1928, DUE TO STABILIZATION AND DEVALUATION
Oct-42 c OF FRANC; COMPUTED BY DIVIDING BY 4.925.
Nov-42 c GOLD REVALUED IN 10/1936, 07/1937, AND 11/1938.
Dec-42 c 5,000,000,000 FRANCS OF GOLD TRANSFERRED FROM
Jan-43 c STABILIZATION FUND TO BANK OF FRANCE.
Feb-43 c
Mar-43 c CHECKED MANUALLY; CORRECTED 4/20/94.
Apr-43 c
May-43 -12
Jun-43 1865.01
Jul-43 1940.12
Aug-43
Sep-43
Oct-43
Nov-43
Dec-43
Jan-44
Feb-44
Mar-44
Apr-44
May-44
Jun-44
Jul-44
Aug-44
Sep-44
Oct-44
Nov-44
Dec-44
Jan-45
Feb-45
Mar-45
Apr-45
May-45
Jun-45
Jul-45
Aug-45
Sep-45
Oct-45
Nov-45
Dec-45
Jan-46
Feb-46
Mar-46
Apr-46
May-46
Jun-46
Jul-46
Aug-46
Sep-46
Oct-46
Nov-46
Dec-46
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Annuaire Statistique data League of Nations Data
Bank of France Bank of France Bank of France Bank of France Gold Stock Bank of France Bank of France Monetary Bullion & Bullion & Gold Bullion & Gold Bullion & Net Exports
Coin & Bullion Gold Holdings Gold Value Gold Stock as % of Gold Coin & Bullion Coin & Bullion Gold Specie Specie Specie Specie Gold
Gold Year End gramme d'or fin Value at Year and Silver Stock Silver Silver Exports Exports Imports Exports Imports
Revalued cours d'achat End Revalued
m FFr tonnes d'or fin par le Banque m FFr % m FFr m FFr m FFr 000 FFr 000 FFr 000 FFr 000 FFr m FFr
en Franc
0.331140351 1220
0.443087445 1140
0.484714004 1045
0.504197531 1004
0.506893382 1073
0.537350392 1121
0.503600169 1172
0.472837897 1213
0.480817348 1245
0.499801035 1257
0.504735596 1255
0.547416844 1279
0.570027064 1271
0.590466926 1263
0.622114216 1244
0.613904407 1244
0.616326531 1222
0.60483871 1225
0.609405617 1196
0.649675626 1134
0.685437998 1106
0.696365127 1111
0.691837868 1110
0.697117999 1114
0.721688574 1101
0.733146782 1049
0.735710397 971
0.771291382 905
0.802387268 894
0.797747536 862 -187 389,593 405,585 173,631 231,538 -57.907
0.794350842 830 -971 285,022 462,359 139,446 264,563 -125.117
0.804121152 789 -1110 324,770 531,251 35,500 255,151 -219.651
0.84164149 629 -3160 431,359 974,980 74,090 585,480 -511.39
0.880817253 525 #N/A 206,699 955,905 71,301 845,420 -774.119
0.921639414 369 #N/A 150,824 126,886 115,242 38,268 76.974
0.934659091 345 #N/A 40,257 168,398 664 61,431 -60.767
0.952510422 262 #N/A 59,840 204,373 115 75,195 -75.08
0.950615114 281 #N/A 14,700 69,723 49 13,092 -13.043
0.948402529 302 #N/A 36,601 176,143 4,474 88,716 -84.242
0.956469374 253 830 688,422 214,518 422,875 129,562 293.313
0.952841596 273 400 873,769 614,767 790,061 571,055 219.006
0.950980392 285 -100 77,446 162,171 62,496 120,078 -57.582
0.94974271 293 27 104,344 76,208 90,402 23,326 67.076
0.948656512 300 150 240,195 115,909 205,550 49,490 156.06
0.946910208 311 0 135,023 149,662 18,174 69,571 -51.397
0.943056264 335 0 31,330 96,401 -65.071
0.941755816 343 2818 538,774 36,780 501.994
1876.9 16.92 31757.148 0.97752533 732 -6140 35,561 6,528,585 -6493.024
2453.6 16.92 41514.912 0.9987423 49 -8505 84,656 8,690,905 -8606.249
3157.6 16.92 53426.592 0.992274641 356 -11530 578,042 12,319,532 -11741.49
4037 16.92 68306.04 0.986267754 817 -18500
4900.4 16.92 82914.768 0.98557961 1161 -17000
4536.8 16.92 76762.656 0.98691211 1075 1000
4841.2 16.92 81913.104 0.992350566 608 -1500
3908.3 16.92 66128.436 0.990461279 725 15000
62282 2661.8 23.7 63084.66 0.988961373 665 547 20700
56866 2280.7 28.08 64042.056 0.990852376 522 400 6500
87265 2159.8 39.15 84556.17 0.992592724 419 530 -3000
2407.4 42.28 101784.872 0.991666667 781 #N/A
84616 1777.5 47.608 84623.22 0.990812044 902 757 #N/A
1777.1 47.608 84604.1768 0.99246912 642 #N/A
1777.1 47.608 84604.1768 0.995153511 412 #N/A
1777.1 47.608 84604.1768 0.997135819 243 #N/A
1578.6 47.608 75153.9888 0.997159325 241 #N/A
129816 968.6 53.6 51916.96 0.995427226 334 429 #N/A
707.4 131.9 93306.06 0.792116861
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MISTE
IQUE ET
Y) FOR 1879-
ECONOMISTE
D AND SILVER
EREAFTER
GURES
220F Page 220p of 220P 220T 220D
LUATION
FROM
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Saint Marc (1983) Data Flandrea
* *
Metallic Total Gold Total Total Total Metallic Metallic Change in Change in Change in Change in Change in Change in
Circulation Existing in Ecus de 5 F Gold & Silver Gold & Silver Money Money Metallic Metallic Total Gold Total Total Metallic
Country en argent Circulation Circulation Existing in Gold & Silver Gold & Silver Money
col. G, p 22,3 col. E, p. 24,5 col. E', p. 24,5 p. 24,5 p. 24,5 Country
m FFr m FFr m FFr m FFr 000 m FFr 000 m FFr 000 m FFr m FFr m FFr m FFr m FFr m FFr m FFr
3031 7167 3776 10943 10.4 7
3534 7180 3762 10942 10.4 7.2 503 -1 13 -1 0 200
3383 7141 3743 10884 10.4 7.1 -151 -58 -39 -58 0 -100
3383 7102 3879 10981 11 7.2 0 97 -39 97 600 100
3392 7087 3920 11007 11 7.2 9 26 -15 26 0 0
4078 7282 3975 11257 11.2 7.7 686 250 195 250 200 500
4785 7417 4021 11438 11.4 8.1 707 181 135 181 200 400
5526 7630 3098 10728 11.6 8.6 741 -710 213 -710 200 500
6131 7772 3986 11758 11.7 9 605 1030 142 1030 100 400
6153 7754 3966 11720 11.7 8.9 22 -38 -18 -38 0 -100
5983 7711 3946 11657 11.7 8.8 -170 -63 -43 -63 0 -100
5987 7671 3926 11597 11.6 8.8 4 -60 -40 -60 -100 0
5605 7631 3906 11537 11.6 8.6 -382 -60 -40 -60 0 -200
5647 7588 3886 11474 11.3 8.6 42 -63 -43 -63 -300 0
5576 7545 3867 11412 11.3 8.5 -71 -62 -43 -62 0 -100
5616 7502 3848 11350 11.3 8.5 40 -62 -43 -62 0 0
5671 7483 3829 11312 11.2 8.5 55 -38 -19 -38 -100 0
5608 7465 3810 11275 11.2 8.5 -63 -37 -18 -37 0 0
5521 7423 3791 11214 11.1 8.9 -87 -61 -42 -61 -100 400
4018 7389 3772 11161 11.1 7.6 -1503 -53 -34 -53 0 -1300
4073 7355 3753 11108 11 7.6 55 -53 -34 -53 -100 0
3995 7316 3734 11050 11 7.6 -78 -58 -39 -58 0 0
4185 7273 3716 10989 10.9 8.1 190 -61 -43 -61 -100 500
4338 7277 3698 10975 10.8 8.2 153 -14 4 -14 -100 100
4369 7235 3680 10915 10.8 7.6 31 -60 -42 -60 0 -600
4114 7290 3662 10952 10.8 7.6 -255 37 55 37 0 0
4142 7358 3644 11002 10.9 7.6 28 50 68 50 100 0
3786 7523 3626 11149 11.1 7.5 -356 147 165 147 200 -100
3728 7654 3570 11224 11.1 7.5 -58 75 131 75 0 0
3905 7509 3530 11039 11 7.6 177 -185 -145 -185 -100 100
4058 7532 3506 11038 11 7.6 153 -1 23 -1 0 0
4483 7539 3478 11017 10.9 7.8 425 -21 7 -21 -100 200
4598 7441 3451 10892 10.8 7.8 4893 115 -125 -98 -125 -100 0
4658 7583 3434 11017 10.9 7.9 60 125 142 125 100 100
4719 7680 3408 11088 11 8 61 71 97 71 100 100
4972 7838 3381 11219 11.1 8.2 253 131 158 131 100 200
4915 8109 3362 11471 11.4 8.3 -57 252 271 252 300 100
5225 8445 3343 11788 11.7 8.1 310 317 336 317 300 -200
3203 8545 3327 11872 11.8 8.6 -2022 84 100 84 100 500
5469 8883 3299 12182 12 8.8 2266 310 338 310 200 200
5425 8748 3266 12014 11.9 8.8 -44 -168 -135 -168 -100 0
5526 8802 3244 12046 12 8.8 101 32 54 32 100 0
5683 8933 3209 12142 12.1 9 157 96 131 96 100 200
6128 9141 3175 12316 12.2 9.4 445 174 208 174 100 400
#N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
#N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
#N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
#N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
#N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
#N/A #N/A #N/A #N/A #N/A 2.5 1.4 #N/A #N/A #N/A #N/A #N/A #N/A
#N/A #N/A #N/A #N/A #N/A 2.5 1.4 #N/A #N/A #N/A #N/A #N/A 0
#N/A #N/A #N/A #N/A #N/A 2.6 1.4 #N/A #N/A #N/A #N/A #N/A 100
#N/A #N/A #N/A #N/A #N/A 2.8 1.6 #N/A #N/A #N/A #N/A #N/A 200
#N/A #N/A #N/A #N/A #N/A 3.2 1.8 #N/A #N/A #N/A #N/A #N/A 400
#N/A #N/A #N/A #N/A #N/A 3.4 2 #N/A #N/A #N/A #N/A #N/A 200
#N/A #N/A #N/A #N/A #N/A 3.5 2 #N/A #N/A #N/A #N/A #N/A 100
#N/A #N/A #N/A #N/A #N/A 3.6 2 #N/A #N/A #N/A #N/A #N/A 100
#N/A #N/A #N/A #N/A #N/A 1.2 2.1 #N/A #N/A #N/A #N/A #N/A -2400
#N/A #N/A #N/A #N/A #N/A 1.8 0.7 #N/A #N/A #N/A #N/A #N/A 600
#N/A #N/A #N/A #N/A #N/A 1.8 0.8 #N/A #N/A #N/A #N/A #N/A 0
#N/A #N/A #N/A #N/A #N/A 2.1 1 #N/A #N/A #N/A #N/A #N/A 300
#N/A #N/A #N/A #N/A #N/A 2.5 1.2 #N/A #N/A #N/A #N/A #N/A 400
#N/A #N/A #N/A #N/A #N/A 4.1 1.4 #N/A #N/A #N/A #N/A #N/A 1600
#N/A #N/A #N/A #N/A #N/A 5 2.4 #N/A #N/A #N/A #N/A #N/A 900
#N/A #N/A #N/A #N/A #N/A 5.1 2.8 #N/A #N/A #N/A #N/A #N/A 100
#N/A #N/A #N/A #N/A #N/A 5 2.8 #N/A #N/A #N/A #N/A #N/A -100
#N/A #N/A #N/A #N/A #N/A 5.2 2.8 #N/A #N/A #N/A #N/A #N/A 200
#N/A #N/A #N/A #N/A #N/A 5.5 2.8 #N/A #N/A #N/A #N/A #N/A 300
#N/A #N/A #N/A #N/A #N/A #N/A 3 #N/A #N/A #N/A #N/A #N/A #N/A
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Flandreau Data Sicsic data
Denuc/Pupin data from Tableau 4 Sicsic Predicted Sicsic Predicted Coin
Gold Silver Total Pieces Billion et
Pieces d'argent Banque Circulation data Value data Value Stock
Stock Stock d'or d'argent nickel de France metallique from from from from
Tableau 11 regression Tableau 11 regression
Gold Gold Silver Silver
m FFr m FFr
771 2288 3059 771
842 2362 3204 842
1097 2413 3510 1097
1106 2477 3583 1106
1276 2386 3662 1276
1780 2235 4015 1780
2200 2079 4279 2200
2675 1867 4542 2675
3209 1543 4752 3209
3652 1523 5175 3652
4305 1366 5671 4305
4675 1221 5896 4675
4709 1160 5869 4709
4859 1077 5936 4859
5002 1010 6012 5002
5206 967 6173 5206
5296 961 6257 5296
5587 954 6541 5587
5707 1002 6709 5707
5966 1089 7055 5966
6116 1141 7257 6116
6084 1188 7272 7167 3862 51 1943 9137 5298.804 0 6084
5976 1186 7162 7180 3866 50 1943 9153 5310.977 0 5976
5870 1179 7049 7141 3872 50 1943 9120 5274.458 0 5870
5747 1327 7074 7102 4009 51 1943 9219 5237.939 0 5747
5683 1380 7063 7087 4049 50 1943 9243 5223.893 0 5683
5829 1447 7276 7282 4103 50 1943 9492 5406.489 0 5829
5914 1493 7407 7417 4148 49 1943 9671 5532.901 0 5914
6076 1502 7578 7630 4124 49 1943 9860 5732.351 0 6076
6165 1496 7661 7772 4111 49 1943 9989 6661 5865.318 1490 0 6165 5865.318
7754 4090 48 1945 9947 5848.463 0 5848.463
7711 4069 47 1947 9880 5808.198 0 5808.198 5808.198
7671 4055 47 1949 9824 5770.743 0 5770.743 5770.743
7631 4035 46 1951 9761 5733.287 0 5733.287
7588 4014 45 1952 9695 5693.023 0 5693.023
7545 3994 45 1953 9631 5652.758 0 5652.758
7502 3974 45 1955 9566 5913 5612.493 938 0 5612.493
7483 3954 44 1991 9490 5594.702 0 5594.702
7465 3943 43 2027 9424 5577.847 0 5577.847
7423 3929 43 2063 9332 5538.519 0 5538.519
7389 3909 42 2099 9241 5506.682 0 5506.682
7355 3889 42 2133 9153 5474.845 0 5474.845
7316 3869 42 2169 9058 5852 5438.326 926 0 5438.326
7273 3850 42 2227 8938 5398.061 0 5398.061
7277 3831 41 2285 8864 5401.807 0 5401.807
7235 3816 40 2344 8747 5362.479 0 5362.479
7290 3805 40 2402 8733 5413.98 0 5413.98
7358 3786 41 2460 8725 5477.654 0 5477.654
7523 3767 41 2521 8810 5097 5632.158 767 0 5632.158
7654 3749 42 2470 8975 5754.824 0 5754.824
7599 3734 42 2418 8957 5703.323 0 5703.323
7532 3714 42 2366 8922 5640.585 0 5640.585
7539 3696 42 2314 8963 5647.14 0 5647.14
7441 3679 42 2262 8900 5555.374 0 5555.374
7583 3662 46 2210 9081 4757 5688.341 691 0 5688.341
7680 3646 50 2232 9144 5779.17 0 5779.17
7838 3628 52 2254 9264 5927.119 0 5927.119
8109 3610 52 2276 9495 6180.88 0 6180.88
8445 3595 52 2298 9794 6495.505 0 6495.505
8545 3592 52 2321 9868 6589.144 0 6589.144
8683 3579 52 2345 9969 6675 6718.365 606 0 6718.365
8748 3563 52 2345 10018 6779.23 0 6779.23
8802 3544 53 2345 10054 6829.795 0 6829.795
8933 3526 55 2345 10169 6952.461 0 6952.461
9141 3511 56 2345 10363 7147.229 0 7147.229
7772 6661 4111 1490
7502 5913 3974 938
7316 5852 3869 926
7523 5097 3767 767
7583 4757 3662 691
8683 6675 3579 606
SUMMARY OUTPUT 353F Page 353p of 353P 353T 353D
Regression Statistics
Multiple R 0.582016
R Square 0.338743
0.173428
Adjusted R Square
715.9278
Standard Error
Observations 6
ANOVA
df SS MS F Significance F
Regression 1 1050262 1050262 2.049081 0.225553
Residual 4 2050211 512552.7
Total 5 3100473
S
Coefficients tandard Error t Stat P-value Upper 95.0%
Lower 95% Upper 95%Lower 95.0%
Intercept -1412.271 5064.885 -0.278836 0.794193 -15474.68 12650.13 -15474.68 12650.13
X Variable 1 0.936386 0.654147 1.431461 0.225553 -0.87982 2.752592 -0.87982 2.752592
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Spliced Data
Bank Change
of France in Change in Change in Net Gold Net Exports Current Account Current Account
Stock Monetary Monetary Monetary Exports Gold & Excluding Excluding
Stock Gold Stock Gold & Silver Silver Gold & Silver Gold
Stock
m FFr m FFr m FFr m FFr m FFr m FFr
350.4
457.8 71 71 71 #N/A -227.5625 501 399.4375
569.6 255 255 255 -126 -227.5625 653 551.4375
584.8 9 9 9 -126 -227.5625 573 471.4375
452.8 170 170 170 -289.059 -172.174 718 834.885
404.5 504 504 504 -416.122 -252.428 534 697.694
340.5 420 420 420 -218.243 -21.083 410 607.16
224.6 475 475 475 -375.253 -91.63 365 648.623
228.4 534 534 534 -445.822 -86.002 476 835.82
460.4 443 443 443 -487.105 -472.165 830 844.94
570 653 653 653 -539.343 -367.82 1198 1369.523
513.5 370 370 370 -311.699 -154.456 1037 1194.243
368.6 34 34 34 23.734 85.547 201 262.813
369.2 150 150 150 -165.038 -78.867 782 868.171
304.9 143 143 143 -11.976 56.365 1043 1111.341
252.1 204 204 204 -125.142 -82.668 1351 1393.474
439.6 90 90 90 -150.824 -223.41 1448 1375.414
588.3 291 291 291 -465.252 -510.217 1380 1335.035
845 120 120 120 -408.674 -598.323 831 641.351
1174 259 259 259 -212.863 -322.138 596 486.725
1190 150 150 150 -274.334 -385.759 1054 942.575
1131 -32 -32 -32 -119.766 -155.233 1101 1065.533
551 -108 -108 -108 213.814 198.297 555 539.483
728 -106 -106 -106 52.893 -49.357 1503 1400.75
763 -123 -123 -123 108.639 -72.859 1547 1365.502
1130 -64 -64 -64 -431.25 -792.184 1458 1097.066
1541 146 146 146 -470.321 -655.663 1589 1403.658
1987 85 85 85 -503.653 -644.068 787 646.584
2196 162 162 162 -435.736 -541.696 1033 927.04
2073 89 89 89 -236.404 -355.238 308 189.166
2115 -16.85494 -16.85494106 -16.85494106 160.96 91.855 -85 -160.663
1974 653.6711 -40.26458 -40.26458143 -40.26458143 213.122 174.334 -280 -318.788
1824 604 -37.45542 -37.45542458 -10.39 -61.483 5 -46.093
907 -37.45542 -37.45542458 -91.373 0 70 70
983 -40.26458 -40.26458143 70.294 0 -32 -32
1021 -40.26458 -40.26458143 -45.549 0 193 193
1103 -40.26458 -40.26458143 -42.498 0 263 263
1302 -17.79133 -17.79132668 -62.804 0 323 323
1189 -16.85494 -16.85494106 164.91 0 523 523
1088 -39.3282 -39.32819581 91.359 0 500 500
1153 -31.83711 -31.8371109 -208.224 0 818 818
1256 -31.83711 -31.8371109 133.12 0 716 716
1279 -36.51904 -36.51903897 -127.079 0 185 185
1547 -40.26458 -40.26458143 -276.428 0 593 593
1685 3.745542 3.745542458 -188.6 0 671 671
1821 -39.3282 -39.32819581 -353.942 0 484 484
2048 51.50121 51.5012088 -9.494 0 958 958
1978 63.67422 63.67422179 10.055 0 934.6005 934.6005
1963 154.5036 154.5036264 -158.853 0 1030.5061 1030.5061
1875 122.6665 122.6665155 113.799 0 436.8838 436.8838
1866 -51.50121 -51.5012088 -156.859 0 1144.2052 1144.2052
2103 -62.73784 -62.73783618 -333.543 0 1015.5472 1015.5472
2410 6.554699 6.554699302 -283.982 0 1101.2435 1101.2435
2548 -91.76579 -91.76579023 -313.486 0 1377.8892 1377.8892
2492 132.9668 132.9667573 -184.369 0 1096.5499 1096.5499
2564 90.8294 90.82940462 -533.745 0 1645.7387 1645.7387
2855 147.9489 147.9489271 -648.154 0 1938.2312 1938.2312
2882 253.7605 253.7605016 -270.486 0 1698.5171 1698.5171
2703 314.6256 314.6255665 -289.858 0 1635.3489 1635.3489
3052 93.63856 93.63856146 -994.124 0 1628.6115 1628.6115
3630 129.2212 129.2212148 -182.035 0 1899.7087 1899.7087
3400 60.86506 60.86506495 -57.907 0 1615.7675 1615.7675
3206 50.56482 50.56482319 -125.117 0 713.561 713.561
3239 122.6665 122.6665155 -169.651 0 1416.2067 1416.2067
3343 194.7682 194.7682078 -511.387 0 1490 1490
3880 537 537 -772.443 0 #N/A #N/A
4340 460 460 76.974 0 #N/A #N/A
4935 595 595 -60.767 0 #N/A #N/A
5255 320 320 -75.08 0 #N/A #N/A
5409 154 154 -13.043 0 #N/A #N/A
5551 142 142 -84.242 0 -21621.6 -21621.6
5559 8 8 293.313 0 -19256 -19256
5516 -43 -43 219.006 0 3289 3289
5529 13 13 -57.582 0 2825 2825
5537 8 8 67.076 0 7618 7618
5543 6 6 156.06 0 11573 11573
5547 4 4 -51.397 0 12279 12279
5548 1 1 -65.071 0 10852 10852
5546 -2 -2 501.994 0 11172 11172
31757.15 26211.15 26211.148 -6493.024 0 11160 11160
41514.91 9757.764 9757.764 -8606.249 0 13997 13997
53426.59 11911.68 11911.68 -11741.49 0 17322 17322
68306.04 14879.45 14879.448 -18500 0 1849 1849
82914.77 14608.73 14608.728 -17000 0 -5283.001 -5283.001
76762.66 -6152.112 -6152.112 1000 0 -8887.999 -8887.999
81913.1 5150.448 5150.448 -1500 0 -2881.001 -2881.001
66128.44 -15784.67 -15784.668 15000 0 -1781 -1781
63084.66 -3043.776 -3043.776 20700 0 -5851 -5851
64042.06 957.396 957.396 6500 0 -11441 -11441
84556.17 20514.11 20514.114 -3000 0 -4764.998 -4764.998
101784.9 17228.7 17228.702 #N/A 0 -8588.301 -8588.301
84623.22 -17161.65 -17161.652 #N/A 0 #N/A #N/A
84604.18 -19.0432 -19.0432 #N/A 0 0
84604.18 0 0 #N/A 0 0
84604.18 0 0 #N/A 0 0
75153.99 -9450.188 -9450.188 #N/A 0 0
51916.96 -23237.03 -23237.0288 #N/A 0 0
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Lower 95.0% Upper 95.0%
#N/A #N/A
0.666659556 0.84192051
Lower 95.0% Upper 95.0%
-26.01175007 20.86610684
-1.363319905 3.873593673
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GDP:
GDP data from 1850 to 1900 are from Lévy-Leboyer and
Bourguignon (1985, T. A-III, series 1, pp. 329-332), produit
interieur brut, millions de francs courants. Data from 1901 to
1944 are from Villa (1993, p. 459, series PIBQ), Production
Interieure Brute en valuer - en gros francs courants.
Capital Formation:
Capital formation data from 1850 to 1900 are equal to gross
fixed capital formation plus changes in stocks. Capital
formation data are from Lévy-Leboyer and Bourguignon (1985, T.
A-III, series 4, pp. 329-332), investissements, bruts (gross
fixed capital formation), millions de francs courants. Changes
in stocks data from 1850 to 1900 are from Lévy-Leboyer and
Bourguignon (1985, T. A-III, series 8, pp. 329-332),
variations des stocks (change in stocks), millions de francs
courants. Capital formation data from 1901 to 1944 are are
equal to gross fixed capital formation plus changes in stocks. Capital formation data are from Villa (1993, p. 439, series
IE, IG, IM), Investissement des Entreprises, Investissement
des Administrations, Investissement des Menages, en valeur, en
gros francs courants (sum of investment by businesses,
government, households). Changes in stocks data are from Villa
(1993, p. 457, series DS), variations de stocks en valeur - en
gros francs courants (changes in stocks).
Current Account:
Current account data from 1850 to 1900 are from Lévy-Leboyer
and Bourguignon (1985, T. A-III, series 5, 6, and 7, pp.
329-332), exportations (exports) plus gains invisibles
(invisible earnings) minus importations (imports), millions de
francs courants. Current account data from 1901 to 1923 are
from Villa (1993, p. 437: series EXPORT, plus p. 448: series
SUS, plus p. 438: series IDVX, plus p. 435: series DREX, plus
p. 435: series DOMX, minus p. 439: series IMPORT minus p.
444: series ODRX), exportations en valeur (exports), plus
solde des utilisations de services (balance of services), plus
interets et dividendes verses par l'exterieur (interest and
dividends), plus depenses et recettes exterieurs (external
expenditures and revenues), plus dommages de guerre verses par
l'exterieur (war reparations), minus importations en valeur
(imports), minus operations diverses de rapartitions exterieur
(sundry external transactions), all en gros francs courants.
Current account data from 1924 to 1944 are from Villa (1993,
p. 436, series EBX), epargne brute de l'exterieur - en gros
francs courants.
According to Annuaire Statistique (1952, p. 195),
external trade data exclude gold, silver, and copper coin, raw
gold and silver, gold and silver in bars, ingots, and powder.
On this basis, the current account data excluding gold were
assumed to equal the original current account data.
Gold:
Data on net exports of gold and silver for 1850 to 1875 are
from the United States Annual Report of the Mint (1900, pp.
424-425). U.S. dollar values are converted to French francs at
the par exchange rate of 0.193 U.S. dollars per franc.
Data on net exports of gold from 1876 to 1914 are from
the NBER Macrohistory Database (series 14114), excess of gold
exports over imports, sum of 12 months data. Data for 1915 to
1930 are from the League of Nations (1924, 1927, 1931, 1932),
gold bullion and specie exports less gold bullion and specie
imports. Data from 1931 to 1944 are from Annuaire Statistique
(1966, Ch. 40, T. I, p. 365), mouvements d'or, million de
francs 1928. The figures for net exports of gold include gold
and silver from 1850 to 1870.
Estimates of the French monetary gold stock for 1850 to
1878 are reported by Flandreau (1995, p. 308). (Indeed, his
estimates reach back to 1840.) According to him (see his
footnote 54), the figures includes gold holdings of the Bank
of France. Data from 1879 to 1913 are estimated using data
from Sicsic (1989, T. 4, p. 728, and T. 11, p. 732). Sicsic
provides revised estimates of the monetary gold stock,
apparently including bank of France holdings, in 1878, 1885,
1891, 1897, 1903, and 1909. These estimates are regressed on a
constant and the annual monetary gold stock data for the
corresponding years as calculated by J. Denuc (method of M.
Pupin), which Sicsic reports in his T. 4. The coefficients
from this regression are then used the Denuc-Pupin annual data
to arrive at predicted figures for the monetary gold stock
from 1878 to 1913. To avoid a discontinuity in 1879 from
the monetary gold stock for 1879 is calculated as the
1878
Data on the monetary gold stock from 1913 to 1927 are
from Annuaire Statistique (1966, T. III, p. 517), Banque de
France encaisse d'or (Bank of France gold holdings, annual
average). Data from 1928 to 1945 are from Annuaire Statistique
(1966, T. II, p. 562), Banque de France encaisse d'or (Bank of
France gold holdings, year end), multiplied by the price of
gold from Annuaire Statistique (1966, T. II, p. 562), cours de
l'or à Paris, cours d'achat par la Banque de France. Price
data from 1938 to 1945 are from Annuaire Statistique (1952, p.
503), cours de l'or à Paris et à Londres depuis 1938, end of
December figures.
Refs:
Villa, Pierre (1993), Une Analyse Macroeconomique de la France au XXe Siecle,
Monographies D'Econometrie, CNRS Editions, Paris.
France, Ministere des Finances et des Affaires Economiques (1952, 1966),
Annuaire Statistique, Institut National de la Statistique et de Etudes Economiques,
Imprimerie Nationale, Paris.
Levy-Leboyer, Maurice and Bourguignon, François (1985), l'Economie Française au XIXe siècle: Analyse macro-économique, Economica, Paris.
493F Page 493p of 493P 493T 493D