International trade

Bibliographic data

Multivolume work

Identifikator:: 1892063557

Document type:: Multivolume work

Author:: Lamprecht, Karl http://d-nb.info/gnd/118569015

Title:: Deutsche Geschichte

Place of publication:: Berlin

Publisher:: Gaertner

Year of publication:: 1891-

Collection:: Economics Books

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Volume

Identifikator:: 1892072254

URN:: urn:nbn:de:zbw-retromon-237894

Document type:: Volume

Author:: Lamprecht, Karl http://d-nb.info/gnd/118569015

Title:: Neueste Zeit

Volume count:: Abt. 3

Place of publication:: Berlin

Publisher:: Weidmann

Year of publication:: 1907

Scope:: XII, 539 S.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Zweites Kapitel. Die Spätromantik

Collection:: Economics Books

260 INTERNATIONAL, TRADE Pe PE gy may be fairly said to give one. There the verification of theory is almost conclusive. The British situation, however, was more complex than the Canadian. The specie movements, for one thing, had quite a different character. Gold was steadily flowing into Great Britain from the mines, and steadily flowing out to other countries. The South African gold — much the largest constituent in the rapidly accruing output — went first to London, and thence filtered out in irregular streams to other countries. Both imports and exports of gold were almost continuous, and represented in the last analysis nothing more than the process of distributing the new supplies over the world at large. None the less, each individual movement was determined proximately in the same way as if there had been no new gold at all — by the Bank of England’s position, its reserve, its rate of discount, its relation to the British banks at large, the price of foreign exchange, the imports and exports of goods. To trace the connections between these monetary elements and the general problems considered in preceding chapters is a task which I have not found it practicable to carry out. It would be necessary to follow step by step the flow of gold into the country and out of it; the Bank’s reserve holdings and discount policy; the reserves, the interest rates, the loan operations and the deposits of the commercial banks; the details of the price changes —in fact, the working of the entire banking and monetary mechanism. Not least, the flow of commodity imports and exports would have to be followed in de- tail. Such an inquiry might well yield results of significance not only for the problems of international trade, but for those of money and credit as well. In this matter, as in so many others, economic science needs much laborious and skilled statistical research for its enrichment and advancement. One thing, however, stands out in the British phenomena. This is the unmistakably close connection between international pay- ments and the movements of commodity imports and exports. And this closeness of connection, striking in the case of Great Britain, is found again and again in other countries also.” Inter- national payments, tho they involve between the individuals

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