An Introduction to the theory of statistics

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Monograph

Identifikator:: 1751730271

URN:: urn:nbn:de:zbw-retromon-127610

Document type:: Monograph

Author:: Yule, George Udny http://d-nb.info/gnd/12910504X

Title:: An Introduction to the theory of statistics

Edition:: 8. ed. rev

Place of publication:: London

Publisher:: Griffin

Year of publication:: 1927

Scope:: XV, 422 S; Ill., Diagr

Digitisation:: 2021

Collection:: Economics Books

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FINANCE AND CREDITS 301 lombia, Guatemala, Haiti and Paraguay. The basis of exchange between countries de pends primarily on the relation existing be tween the gold value of their respective moneys, the price paid being materially influ enced by the condition of the balance of trade and the social or political state of the country. For example, with the balance of trade in favor of England, the price of exchange on that country would go up a fraction of a point or so, while if a country is in a state of politi cal or economic unrest, or at war, the price of exchange on it goes much higher than if con ditions were normal. For these reasons ex change in all countries varies daily, the price for the day being decided upon the receipt of European cables from the home institution. It will therefore be apparent that it is impos sible to determine a fixed rate of exchange for any definite period. By buying when ex change is low and selling when it is high, much money can be made, especially if the sum in volved is large. The United States did a gross business with Latin America in 1912 of $326,-

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