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

252 INTERNATIONAL TRADE Ey Ba TRG decrease of the physical quantities of the imports and exports. Columns 5 and 6 then show in what way the quantity relations of different years compare. The year 1900 is taken as the base for this purpose, just as it is for the price comparisons. The propor- tion of exports to imports — physical quantities — for that year 1900 is taken as 100. According as the proportion is found to be greater or less in another year, the figure is greater or less. The figures thus deduced for the several years give an index of changes in the gross barter terms of trade. Let it be borne in mind that here, as in the figures on net terms, we have nothing which indi- cates whether the terms are in themselves favorable for any given year. They indicate only the direction and extent of changes. There is nothing to show whether the barter terms of trade with foreign countries in 1900 gave Great Britain a large or a small share of the total divisible gain from foreign trade. But such as they were in 1900, favorable or not, it appears that in 1890 they were less favorable than in 1900; more of physical exports was given for each unit or given assortment of physical imports than in 1900. And it appears that in 1910 also the relation was less favorable than in 1900; then also more of exports was given in exchange for a given quantity of imports than in 1900. We have then an index of the gross barter terms of trade. The chart on the opposite page shows at a glance the general trends from 1880 to 1913. First follow the dotted line, indicating the course of the gross barter terms of trade.! The terms of trade be- came markedly more favorable to Great.Britain from 1880 until 1900. During these two decades less and less of exports went out in relation to the imports; a given physical quantity of im- ports was purchased for a steadily declining physical quantity of exports. After 1900 the tendency is the other way; more and more of exports are sent out, in comparison to the imports that come in. The course of the net barter terms is indicated by the unbroken 1 The figures on which the chart is based are given in detail in Appendix I, p. 411. Both for chart and figures, I make use of a paper printed in the Economic Journal, March, 1925.

Access restriction

Copyright

fullscreen: International trade

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation