International trade

Bibliographic data

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

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part I. Theory

Collection:: Economics Books

CHARITABLE CONTRIBUTIONS 121 tion of income in the United States, its inequality between classes or geographical sections, its possible disturbance and readjustment under new conditions. Any changes in the direction of consump- tion may have effects not only on the direction of production but on the distribution of income also. This problem involves reason- ing which is in part similar to that on international trade, but leads to nothing inconsistent with its conclusions or serving to modify the essentials of the conclusions. A somewhat special case is that of gifts or charitable contribu- tions. It is like that of a tribute, and also unlike. As with a tribute, nothing in the way of commodities or services is received by the country which makes the payments : there is no quid pro quo. But they are made voluntarily, not under compulsion. Very heavy remittances of this sort were made from the United States to foreign countries during the last generation, say from 1895 to the present time (1925); some details will be considered in a later chapter. Such operations affect the course of international trade in com- modities — the exports and imports of goods — in the same way as tributes or travellers’ expenditures. Their tendency is to bring about an excess of merchandise exports, a “favorable” balance of trade, lowered money incomes and domestic prices in the remitting country, higher incomes and prices in the receiving country. They lead also to barter terms of trade less favorable to the remitting country. The people of that country not only export gratis the tangible goods which serve to meet the charitable remittances; they lose also thru the circumstance that they get less imported goods in exchange for the exports which are the commercial items in the account. The remittances thus may be said to cost the donors more than they reckoned on, more than they are aware of. But the contributions continue to flow, even tho the people who make them find that their money incomes tend to fall, while imported goods tend to rise in price. They have the satisfaction, approved by the moralist, of doing a merciful deed; and that satisfaction is not dimmed because the doing entails more of material curtailment than was resolved on at the start. On the 1 Chapter 24, p. 294: Chapter 25. p. 329.

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