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

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 231 the loans once for all in buying additional goods in the lending country. The Canadians, for example, might have devoted the whole of the funds put at their disposal by the British lenders to the purchase in England of rails, locomotives, iron and steel, machinery. Did they do so? Evidently not. An examination of the import statistics shows that the commodity imports and exports took no such simple course. They indicate a series of transactions more complicated, and more interesting to the student of international trade. As between Great Britain and Canada, imports from the former did indeed increase, but not more than did the exports from Canada to Great Britain. And the relation between the imports and exports of these two countries remained virtually unchanged. Before the great borrowings began, Canada’s exports, in the latter part of the 19th century, to Great Britain had exceeded her imports. They continued to do so between 1900 and 1913. The agricultural growth in the Canadian West led to an increase of grain exports to Great Britain so great that it quite equalled the increase of imports into Canada from that country. There was no net excess of commodity imports from Great Britain. But in Canada’s trade as a whole an excess of imports did appear, and on a large scale; there was a great inflow of goods from other countries. And this inflow took place chiefly from the United States. During our period the total imports into Canada from the United States exceeded those from Canada into the United States by no less a sum than 1700 millions of dollars. Some excess of imports came into Canada from still other countries; but the amount from the other countries (300 millions in all) was small in comparison to that from the United States. In the main, it was from the United States that Canada got the goods which constituted the substance of what her loans yielded. In part, it is true, the United States had a relation to Canada similar to that of Great Britain; she too was a lender. The Canadian loans in the United States during the period amounted to something over 600 millions. Probably the greater part of what was thus borrowed in the United States was spent there at

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