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

302 INTERNATIONAL TRADE The course of the net barter terms has no very marked trend. Such trend as there is would indicate that the net barter terms were less favorable during the earlier stage (before 1900) than in the later. For about a decade — 1886 to 1896 — there is a discernible upward movement, 4.e. less favorable terms. After 1900 there is no clear tendency to change. Certainly the net barter terms are quite as favorable after 1900 as before ; if anything, more so during the later stage rather than less so. Tested in this way —as regards the net barter terms — the United States was exchanging its goods with foreign countries on no worse terms after 1900 than before. The gross barter terms show great irregularity of movement, yet a general trend not dissimilar. The irregularity is to be expected, in view of the abrupt changes which repeatedly take place in the international trade of the United States. Agricultural commod- ities dominate in the exports, even tho less overwhelmingly so in the later years than in the earlier. The variations of the crops ‘notably cotton) from year to year, and of their prices, bring about sudden changes in the recorded exports. The disturbed conditions of the decade 1890-1900 also go far to account for irregular move- ments; especially a great burst, during the second half, in the exports of all kinds of commodities. The chart shows that in 1898-1900 the excess of exports took a sudden leap, and that the gross barter terms of trade became correspondingly unfavor- able — the curve mounts. The physical volume of the exports was becoming much greater as compared with the physical volume of the imports. After 1900, however, this relation no longer appears. The gross barter terms of trade, like the net barter terms, indicate nothing that is noticeably unfavorable to the United States. It is true that the money value of the exports continued to exceed by very large amounts the money value of the imports — almost as much so as during the unusual years 1898-1900. Yet when correction is made for the prices of imports and exports, and a calculation is made of movements in the physical quantities of the two (as is done in this procedure) it appears that the United States was getting her total imports in exchange for her

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