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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Document type:: Monograph

Structure type:: Chapter

Title:: Part III. International trade under inconvertible paper

Collection:: Economics Books

INTERNATION AL TRADE PRICES AND THE GOLD PREMIUM, UNITED STATES, 1867-1879. 0p > be I I heal el EL - i” 120 - £3) A 4 NN 1 ale! f—— a v= | 1071 1072" IBT3_ i074 1075 1078 1677 1070 A ie “C1867 poo fxport prices \ linport prices Base, 1860 = 100. Domestic prices =eosas Price of Gold 106A specie payments on January 1, 1879, the premium dissapeared entirely and the new era of the gold standard set in. Turn now to the prices of goods; and here, as the reader need hardly be reminded, it is\not merely the general movement of prices that is to be considered, but even more the trend in the prices of the different clasts of goods — exported, imported, domestic. As regards the geteral movements (indicated by an index number made up for goodsof all three kinds), a relation to the specie premium is clear. Taking the entire period 1866-78, both prices and premium go downward; the country is growing up to the currency. But the rate of mofement is significantly uneven. During the first stage, the price\ef gold in paper — that is, the gold premium ~— tends to be low than the prices of goods; during the second, the price of goldis higher. After 1874, that is, almost immediately after the cra which took place in the autumn of 1873, there was a relative Rll in the price of gold and

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