International trade

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Monograph

Identifikator:: 1758394757

URN:: urn:nbn:de:zbw-retromon-136209

Document type:: Monograph

Author:: Taussig, Frank William http://d-nb.info/gnd/120199459

Title:: International trade

Place of publication:: New York, NY

Publisher:: Macmillan

Year of publication:: 1927

Scope:: XXI, 425 Seiten; graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Problems of verification

Collection:: Economics Books

246 INTERNATIONAL TRADE GREAT BRITAIN, 1880-1914. A i =a _.xcess of imports over exports meme Income from abroad == Shipping earnings = TF xport of capital mde Ic J enter into the total of the “invisible” factors of Great Britain's trade: the inflowing income from investments, the shipping earnings, and the export of capital. It will be seen that the first of these, income from investments, shows a fairly steady growth from year to year, such as is to be expected. The second, shipping earnings, also shows a continuing growth, tho not one so steady. The two account for the balance of payments due fo the country, and so account for the excess of imports (I disregard minor items). The new loans — the capital exports — vary to an extraordinary degree; and no variation is so striking as the upward burst in 1904-1914. The phenomenon, it may be noted, was not peculiar to Great Britain. A similar one appeared in Germany and France, indeed in all the capital-lending countries of Europe. With it went an equally striking expansion of the total volume of international trade, an accentuation of international competition, a yeasty and uneasy turmoil both in the lending and the borrowing countries — the various forms of trade rivalry, fomented by nationalistic senti- ment and by economic jealousies and fallacies, which contributed so largely to the ensuing war. It was in Great Britain. then still

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