ABSTRACT
A comparison of the figures of national income obtained in earlier chapters with the results of the Census of Production, though it will not serve as a check owing to the lack of any direct knowledge of the income created by transport, distribution, etc., will enable us to evaluate this latter income by difference. The method used by Flux (the summing of the total recorded net output of industry, the value of primary materials used, and certain transport and other charges, to give the value of the final product of industry) is criticised and reworked. At the same time an independent estimate of the value of the final product of industry is made by examination of the recorded output of consumable goods and finished capital goods, taking into account semifinished goods passing out of the sphere of the Census of Production as exports, goods for use in agriculture, and the like. The two methods give results divergent only by 1 per cent and hence can be used as bases for series of figures for later years.
