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

284 INTERNATIONAL TRADE Britain after the middle of the century, and contributed more and more to her excess of imports, they grew smaller for the United States during the decade from 1850 to 1860; and they came to a sudden end with the Civil War. The fear of capture by Con- federate men-of-war caused the sailing vessels of the North to register under other flags or lie at anchor. By the time the war ceased, the day of sailing vessels had passed. Iron steamers took their place; and in building and operating these the British had a clear advantage. Ocean transportation to and from the United States was carried on in foreign vessels, and the charge for this service became a debit item for the country; it was met in the form of merchandise exports, and contributed to the recorded excess of exports over imports. In its main outlines this series of changes is again such as general reasoning would lead us to expect. When it comes to details, the case 1s not so clear. The events are complex; the statistical material for test and verification is inadequate; and there are other difficulties, raising troublesome questions of principle. The events are complex. They are so not least as regards the monetary conditions. During the larger part of the period before the Civil War, the United States was on a specie basis; after 1834 on a gold basis. The specie was held chiefly by banks, and was but a slender foundation for a large volume of notes and deposits. But the banking situation, as is well known to all students of the sub- ject, was highly confused. Some approach to system and order was achieved during the decade immediately preceding the war (1850- 60), especially in the seaboard region. But banking legislation and practise still varied greatly from one part of the country to another. The course of domestic and foreign trade, the extension of bank credit, and the changes in prices, were subject to a variety of forces, among which — especially in view of the fragmentary nature of the available information — it would be almost hopeless to discern any specific effects resulting from the course of international trade or from the international movement of specie. True, for the period just before the Civil War (1850-60), the

Access restriction

Copyright

fullscreen: International trade

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation