International trade

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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

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Problems of verification

Collection:: Economics Books

CANADA 229 162; business rents much more — the figure was 234 in 1913. An exceptional rise in business rents is a natural outcome of specu- lative furore and high business returns (high on the surface at least) such as characterize a boom period. As has just been stated, the soaring course of domestic prices is in contrast with the lagging even tho upward movement of export prices. Most Canadian articles of export are of the kind which, when sent to foreign countries, constitute but a moderate fraction of the total supply there marketed. This is of course most clearly the case with wheat, the one outstanding crop of the new western region. Its sustained production and exportation was almost a matter of necessity. A cheap product of virgin soil, it would probably have continued to be placed on the market (tho in less amounts) even in face of falling prices. Moreover, something more than the mere cheapness of production affected the output and the exports. The pioneer farmers of the Canadian West had regard not merely to present costs. They were actuated not a little by the prospect of future accretion, the wish to secure the land and to build a property for the future. It is perhaps going too far to put this sort of case in the terms suggested by Professor Marshall in describing earlier phenomena of the same kind — that to the pioneer wheat is no more than a by-product in the process of acquiring the title-deeds.! But one need not be at all surprised that wheat grown under these conditions should be exported in great and increasing amounts, even tho it showed a rise in price not at all as marked as that of other Canadian goods. The same situation is seen in the case of flax-seed, also a character- istic product of pioneer agriculture.? A more normal state of things — 7.e. such as is to be expected on a priori grounds — appears in some other products which had previously figured largely in Canada’s exports. They ceased so to figure, or at least tended toward disappearance. Articles like cattle, sheep, horses, bacon, butter, had been among the exports * Principles of Economies, Book 5, Ch. 10, § 2 (6th edition). ¢ See the article, already referred to (pp. 187-188, above), by Mr. W. S. Barker, on Flax Fibre and Flax Seed, in The Quarterly Journal of Economics, May, 1917.

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