The work of the Stock Exchange

Bibliographic data

Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XVII. The stock exchange and American business

Collection:: Economics Books

STOCK EXCHANGE AND AMERICAN BUSINESS 495 flexibility was imparted to the production and distribution of goods. At once more goods became available for human con- sumption, the individual struggle for existence became easier, and the populations of the civilized nations began to grow. A well-known economic authority? has stated that during the single century from 1651 to 1751, when the first real indica- tions of the coming capitalistic era were manifested, the pop- ulation of Great Britain increased from 6,378,000 to 7,392,000. But during the next century (1751-1851), which witnessed the establishment of steam production, steam distribution, modern banking, and the London Stock Exchange, the population shot upward to 21,185,000, an increase of 13,793,000. Even more astonishing was the increase in population during the next sixty years (1851-1911), by 19,350,000 to a total in 1911 of 40,535,000. Nor do these figures reflect the huge emigration of Englishmen to all parts of the world, which occurred during the same periods. As Hartley Withers has so well remarked : 2* Merely to enable so large a number of people to be alive is not everything, but it is a great deal. Under Capitalism, all these millions saw the light of the sun, smelt the scent of spring, knew love and friendship, made and laughed at good and bad jokes, ate and digested their meals, made their queer guesses at the secret of life, played games, read books, cherished their hobbies and their prejudices, knew a little, thought they knew much more, and went their way leaving others behind them to take up the thread of life and spin another strip of its mysterious cloth. . . . If life is a good thing—and most of us waste little time in sending for a doctor if we do not feel well—Capitalism has made the enjoyment of that good possible to millions. Owing to the constant stream of immigration into this country, figures for the growth of population in the United States are not so conclusive. Yet it is undoubtedly true that under any system where a surplus of goods and securities could not be speculatively carried and distributed, our country could not possibly have attained its present great population, nor ia Dr Shadwell, “The History of Industrialism,” in the Encyclopedia of Indus- %# Hartley Withers, “The Case for Capitalism,” p. 116.

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