Régime des chambres de commerce

Die Bodenreform im Lichte des humanistischen Sozialismus

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Monograph

Identifikator:: 1014570352

URN:: urn:nbn:de:zbw-retromon-24296

Document type:: Monograph

Author:: Follenius, Robert http://d-nb.info/gnd/138022984; Feßmann, Karl

Title:: Der Zucker im Kriege

Place of publication:: Berlin

Publisher:: Verlag der Beiträge zur Kriegswirtschaft Reimar Hobbing (Sonder-Konto)

Year of publication:: 1917

Scope:: 1 Online-Ressource (98 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Die Kriegsbewirtschaftung des Zuckers / von Dr. Karl Feßmann, Leiter der Volkswirtschaftlichen Abteilung der Reichszuckerstelle, Berlin

Collection:: Economics Books

igo MODERN MONETARY SYSTEMS in the purchasing power of the currency between the moment when he receives it and the moment when he expends it, either on purchasing new supplies or on objects of personal consumption.! Wage-earners obtain rises in salary which are more or less proportionate to the new purchasing power of the currency; small wage- earners usually succeed at the beginning of a crisis in keeping up the full purchasing power of their earnings, whereas high wage-earners, and in particular the higher grades of officials, are sacrificed. On the other hand, per- sons with a fixed income, derived from fixed interest- bearing securities, only receive the nominal sum provided in their contracts without any coefficient of increase. House-owners are also bound by their contracts, wher- ever they have signed leases, and often meet with legal obstacles when they attempt to raise rents in new con- tracts in the same way in which traders alter their selling prices. As regards public expenditure, variations in the pur- chasing power of the currency will affect it through salaries of staff and the purchase of material; it is not affected by loans contracted before the depreciation set in and is comparatively little affected by subsequent loans, since the rate of interest does not rise in proportion to the decline in the purchasing power of the currency. On the other hand, State receipts may increase nearly in proportion to the depreciation of the currency owing to the indirect taxes and taxes on income which more or less follow the advance in prices. And so, in the absence of any uniform rule to counteract their effects, changes in purchasing power of money bring about serious dis- turbances in legal and economic relations. Moreover, the resulting inequalities may have the curious result of promoting budgetary equilibrium to a certain extent, as the Budget, in countries where the public debt forms a large part of the public expenditure, benefits by the small 1 Hence, as we have seen, he will discount this possible depreciation and raise selling prices above the level already reached and so provoke again the very depreciation which he is trying to avoid.

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