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

FREIGHT CHARGES fs. a pi a 133 price (i.e., the price at the place of export) plus freight charges. But this is not necessarily the amount which the people of the im- porting country have to remit to the exporting country, say Great Britain. If the goods are carried from Great Britain in vessels of the United States, the freight charges are paid by one set of Ameri- cans to another set of Americans. The freight item then is purely domestic; no remittance to Britain must be made. The British goods alone need to be paid for. But if the goods are carried in British vessels, some British persons must be paid for the further service of bringing them over. It is immaterial to the individual Americans who happen to buy the goods whether this additional payment goes to their own countrymen or to the British. But it is material for the balance of international pay- ments; an item arises in the latter case which must take its place in the adjustment of that balance. The same distinction of course must be made at the other end — that is, as regards a country’s exports. American sellers of goods, when they export them to Great Britain, get only the price of goods at the place of export. The British purchasers pay as individuals that price plus cost of ocean transportation. If the goods are carried in American vessels, the freight charges become an addi- tional item, also payable to Americans, even tho (in modern times) presumably a different set of individuals from those that have sold the goods. Should the goods be carried in British vessels, the freight charges become a payment made by one set of the British to another set, not made by the British to the Americans; and then it does not figure in the international balance sheet. If, now, the business is halved — if half of the carriage is done by British vessels, half by American — the items offset each other in the international account. As much is due one way as the other. The total volume of international payments is greater than it would be if the countries were contiguous, but the balance of payments is not affected. If, however, all the carriage takes place in the vessels of one of the countries, say Great Britain, a balance becomes due to that country. Supposing the other transactions between the countries to balance — imports and exports. and

Access restriction

Copyright

fullscreen: International trade

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation