1. These regressions reproduce equations 1 and 5 in table 3 of their paper.
2. Wilson E. A. , “The Crisis of National Integration in El Salvador, 1919–35” (Ph.D. dissertation, Stanford University, 1970).
3. A depreciation is expressed as the gold price of domestic currency in 1935 as a percentage of the 1929 parity. A value of 69 for Argentina indicates a 31 percent depreciation. Industrial production is the ratio of the production index in 1935 to that of 1929 multiplied by 100.
4. A devaluation is sterilized when the depreciating country adjusts its money supply in order to leave unchanged the ratio of gold backing to money in circulation.
5. Domestic Financial Policies under Fixed and under Floating Exchange Rates (Politiques finacierieures interieures avec un systeme de taux de change fixe et avec un systeme de taux de change fluctuant) (Politica financiera interna bajo sistemas de tipos de cambio fijos o de tipos de cambio fluctuantes)