TABLE I

Index of Year-End Cumulative Wealth Relatives, 1949-76

Year

Common Stocks

Commodity Futures

Number of Commodities

Long Term Government Bonds

US 
Treasury Bills

Consumer Price Index

1949

1.000

1.000

-

1.000

1.000

1.000

1950

1.317

1.526

10

1.000

1.012

1.058

1951

1.633

1.934

10

0.51

1.027

1.121

1952

1.933

1.910

10

0.972

1.044

1.131

1953

1.914

1.789

10

1.007

1.063

1.137

1954

2.922

2.056

13

1.080

1.073

1.132

1955

3.844

1.957

13

1.066

1.089

1.136

1956

4.096

2.246

13

1.006

1.116

1.168

1957

3.654

2.193

13

1.081

1.151

1.204

1958

5.239

2.164

15

1.016

1.169

1.225

1959

5.863

2.176

13

0.993

1.203

1.244

1960

5.892

2.174

13

1.129

1.235

1.262

1961

7.477

Z.208

13

1.140

1.262

1.270

1962

6.824

2.227

13

1.219

1.296

1.286

1963

8.380

2.735

13

1.213

1.337

1.307

1964

9.762

3.067

14

1.277

1.383

1.322

1965

10.977

3.393

16

1.286

1.438

1.348

1966

9.872

3.890

17

1.333

1.506

1.393

1967

12.239

4.050

19

1.210

1.570

1.436

1968

13.593

4.101

19

1.207

1.651

1.503

1969

12.437

4.955

21

1.146

1.760

1.595

1970

12.935

5.550

22

1.285

1.877

1.693

1971

14.787

5.734

23

1.454

1.957

1.739

1972

17.592

7.666

23

1.537

2.032

1.799

1973

15.013

15.45

23

1.520

2.174

1.957

1974

11.037

20.38

23

1.586

2.347

2.196

1975

15.144

19.57

23

1.732

2.483

2.350

1976

18.754

22.06

23

2.022

2.609

2.463