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

CANADA 223 but little effect in confusing the situation. In essentials the case is of a kind rare in economic experience, in that a single force was at work under conditions which enable us to trace its effects with certainty. The series of phenomena come as close to the conditions of an experiment — the deliberate isolation of a given force — as economic history can well supply. And there is the further favoring circumstance that the materials for tracing the outcome are ample, and have been analyzed with great labor and discrimi- nation by a competent hand. During the last decade or two of the 19th century — in the period immediately preceding that which we are to consider — the international trade of Canada had the features to be expected in a country which has borrowed in the past. The stage had been reached where interest payable on the old loans over-balanced such new loans as continued to be contracted. Canada’s com- modity exports then exceeded her imports. With the 20th century, a new period set in, and all this was reversed. Heavy loans were contracted, virtually all being connected directly or indirectly with the settlement and exploitation of the West — Manitoba, Assiniboia, Saskatchewan, Alberta, and the rest. Beginning at a modest rate, the loans enlarged steadily, until in the later part of the period (1908-1913) they rose to two, three, and (at the very last) five hundred millions a year. The total sum borrowed by this country of moderate size amounted to bil- lions of dollars in little more than a decade. The Great War, coming in 1914, suddenly stopped the movement. The experi- ment was then abruptly closed, so to speak, and could never again be renewed in quite the same simple and instructive fashion. ! Professor Jacob Viner’s book on Canada’s Balance of International Indebted- ness, 1900-1913 (1924), of which this chapter is hardly more than an abstract, is a model monograph of its kind — exhaustive in the accumulation and analysis of the evidence, keen in the application of economic principles to the facts observed. [ feel satisfaction in having taken the initiative in suggesting the subject to Pro- fessor Viner; the extraordinarily successful outcome of the research is due to his indefatigable industry and high intellectual ability. Much is also due to Mr. R. H. Coats, Statistician of the Dominion of Canada. His report on Cost of Living (1915) supplied full and accurate material on price movements, arranged with unusual competence.

Access restriction

Copyright

fullscreen: International trade

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation