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 II. Problems of verification

Collection:: Economics Books

CHAPTER 17 INTERNATIONAL PAYMENTS IN RELATION TO MONETARY SYSTEMS WE proceed now to a different aspect of the problem of veri- fication. The preceding chapters have dealt with the direction into which a country’s labor and capital are turned, with the character of the national industries, with the accord of industrial development, with the theoretical forecast. These are matters of substantive outcome. What we have now to consider is not so much the substantive result as the mechanism by which the result is brought about.! The mechanism is that of international payments. Interna- tional payments, obviously a part of the general subject of inter- national trade, have had much more attention in the literature of the subject, and especially in its recent literature, than compara- tive costs and international values. But they have rarely been treated in their relations to these underlying problems. I propose in the following chapters to examine them from just this point of view : to consider how the actual payments made by one country to another are related to the remoter and more fundamental problems of international trade. The inquiry will involve of necessity some consideration of still another field in economics, namely, the theory of money and prices. The present chapter, which is introductory in character, will be given chiefly to those aspects of monetary theory which are closest to the theory of international trade. To begin, let it be emphasized once more that all the trade — virtually all — is carried on thru transactions between individuals ! The reader will bear in mind that this Part thruout is concerned with those countries only and those times in which the monetary systems are on a gold basis. The mechanism of international trade under inconvertible paper is reserved for treatment in Part ITI. It is the gold standard which has the wider and more endur- ing range, and is of the greater theoretical and practical importance.

Access restriction

Copyright

fullscreen: International trade

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation