FIGURE 1: Simon Kuznets, Capital in the American Economy, Princeton for NBER, 1961 (from worksheets underlying the book, variant III, component method, money income and real income). Money income divided by real income (implicit price deflator). A Monetary History, Table A-1, pp. 708–713, col. 8 (money stock); Table A-5, p. 774, col. 1 (velocity of money). Historical Statistics of the United States, 1789–1945, Bureau of the Census, 1949, p. 344 (wholesale price index). Industrial Production, 1959 Revision, Board of Governors of the Federal Reserve System, 1960, p. S-151 (industrial production). The National Bureau’s Research on Indicators of Cyclical Revivals and Recessions, NBER, Dec. 1960, p. 5 (reference dates).
FIGURE 2: A Monetary History, Table A-1, pp. 712–713, cols. 1, 2, 3, 4, 8.
FIGURE 3: Business Cycle Indicators, G. H. Moore, ed., Princeton for NBER, 1961, Vol. II, p. 139 (personal income). Historical Statistics of the United States, 1789–1945, Bureau of the Census, 1949, p. 344 (wholesale price index). Industrial Production, 1959 Revision, Board of Governors of the Federal Reserve System, 1960, p. S-151 (industrial production).
FIGURE 4: Common-Stock Indexes, 1871–1937, Cowles Commission for Research in Economics, Bloomington, Ind., Principia Press, 1938, p. 67 (common stock price index). Banking and Monetary Statistics, Board of Governors of the Federal Reserve System, 1943, pp. 450–451 (commercial paper rate); pp. 469–470 (yield on corporate bonds, Baa, and on U.S. government bonds); p. 441 (discount rates).
FIGURE 5: Federal Reserve Bulletin, Sept. 1937, p. 909.
FIGURE 6: A Monetary History, Table A-1, pp. 712–713, col. 8, and Table B-3, pp. 803–804, cols. 1, 2, 3.
FIGURE 7: A. Liabilities. A Monetary History, Table B-3, pp. 803–804, col. 1 (high-powered money); Table A-2, pp. 739–740, col. 2 (bank deposits at Federal Reserve Banks); Banking and Monetary Statistics, pp. 411–412 (Federal Reserve notes, Treasury currency, gold coin and gold certificates), plus $287 million deducted by Federal Reserve added back to gold coin, seasonally adjusted by us.
B. Assets. Ibid., p. 537 (monetary gold stock) plus $287 million deducted by Federal Reserve added back, seasonally adjusted by us; pp. 375–376, Federal Reserve credit outstanding and System holdings of U.S. government securities were each corrected for seasonal movements, and the latter subtracted from the former (Federal Reserve claims on the public and banks); high-powered money minus monetary gold stock minus Federal Reserve claims on the public and banks (other physical assets and fiat of the monetary authorities).
FIGURE 8: Banking and Monetary Statistics, pp. 375–376 (Federal Reserve credit outstanding; U.S. government securities held; bills discounted; bills bought), seasonally adjusted by us. “Other” obtained as a residual.