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

228 INTERNATIONAL TRADE movement but a series of different movements. If the world level of prices had remained unchanged, we should have expected in Canada a fall in the prices of imported goods, and a rise in the prices of domestic goods. Exported goods in the long run would have shown a movement similar to that of the domestic, but with a lag which would for some time keep their prices either on the same low level as the imported, or in a position intermediate between that of the imported and the domestic articles. In the actual state of things, however — the world level of prices not stationary, but advancing — we should expect goods imported into Canada to show some advance in price, but a less advance than the domestic, and less advance than the exported also. With prices rising everywhere, we should expect domestic prices in Canada to rise more than the gross average in that country, and much more than the gross average elsewhere. This is precisely what happened. The prices of domestic goods in Canada rose from 100 in 1900 to a range as high as 161 in 1913. Imported goods showed an advance unmistakably less. During the earlier years of the period they remained on the whole unchanged, but began to advance after 1905, and reached their maximum, only 114, in 1913. Export goods moved in a range roughly half-way between these two, reaching 139 in 1912 and 134 in 1913. The details of the price changes, still further followed, remain in accord with the previsions of theory. (Thruout, prices for 1900 are the base, 100.) A selected list of identical domestic commod- ities showed for Canada a rise to 162 by 1913; for the United States one only to 123 by the same year. Most significant was the change in wages and services. As has been said again and again, money rates of wages are the best single index of the move- ment of domestic prices. Canadian (weekly) wages rose to 145 in 1912, 149 in 1913. British money wages showed virtually no advance at all during the period; the United States showed an advance distinctly less than Canada — to 123 in 1911 and 127 in 1913. A novel and significant indication of the domestic price movements was the charge for hospital services (expense per patient per day), which rose to 145 bv 1913. House rents rose to

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