Grundsätze der Volkswirtschaftslehre

Bibliographic data

Monograph

Identifikator:: 832651257

URN:: urn:nbn:de:zbw-retromon-63075

Document type:: Monograph

Author:: Devas, Charles S. http://d-nb.info/gnd/124362435

Title:: Grundsätze der Volkswirtschaftslehre

Place of publication:: Freiburg

Publisher:: Herder

Year of publication:: 1896

Scope:: 1 Online-Ressource (XXIII, 521 S.)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

STOCK EXCHANGE AND AMERICAN BUSINESS 481 agricultural communities must depend to sell their produce. The farmer who sends his wheat to market over the iron pathway provided by our western railroads benefits uncon- sciously and yet profoundly from the work accomplished by the Stock Exchange during the preceding half-century in mar- keting and distributing our railroad securities. The American farmer could obviously never have become the progressive and, compared with the agricultural workers of other countries, the extremely prosperous individual that he is, were it as difficult for him to market his produce as it is for farmers in other less developed countries. Without the network of steel rails stretching all over the United States, he would be engulfed and isolated in its vast interior areas, as are the peasants of Russia or China. But the problem of marketing the great crops of this coun- try does not simply consist of getting them aboard the freight cars. Many other factors are also involved. There is the country bank, which finances the farmer’s undertakings and often preserves itself from illiquidity and even insolvency by keeping a certain part of its surplus funds invested in stock market loans.” In addition, there are still other vital parts of the crop-marketing machinery beyond the blue horizon of the farmer’s world. The elaborate mechanism of foreign ex- change and foreign trade, the exporting, shipping, and insur- ance companies have to perform their separate parts of the work. And to each of these additional factors the Stock Ex- change renders one important service or another.® Thus, while the Exchange has nothing to do directly with marketing the farmer’s wheat, corn, or cotton, nevertheless it renders indi- rectly a hundred often unnoticed and yet genuine services. The Modern American Farmer’s Needs.—Nor does the contact between the stock market and the farmer end here. For the American farmer of today has in many ways become an agricultural engineer, who uses machinery extensively and to an 7 See Appendix XIk. 5 See Chapter XVIII

Access restriction

Copyright

fullscreen: Grundsätze der Volkswirtschaftslehre

Monograph

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation