Die deutsche Volkswirthschaft und der Weltmarkt

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Monograph

Identifikator:: 880040890

URN:: urn:nbn:de:zbw-retromon-3097

Document type:: Monograph

Title:: Die deutsche Volkswirthschaft und der Weltmarkt

Place of publication:: Berlin

Publisher:: Verlag von Julius Springer

Year of publication:: 1901

Scope:: 1 Online-Ressource (28 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: I.

Collection:: Economics Books

334 INTERNATIONAL TRADE of all, and perhaps most unpredictable of all, is the way in which the monetary mechanism will operate. Will the currency system of the country remain as insensitive to gold movements as it came to be during the war and post-war periods? Will the whole enormous gold stock be retained within the country? And if not, what will be the method and what the results of its re-distribution ? Will deliberate policy and plans for a managed currency determine its movements, or will its international distribution proceed after all in that undesigned fashion which has so long been regarded as part of the normal economic order? And, to come to our imme- diate subject, by what processes will the currents of international trade be influenced? It may be presumed with confidence that the fundamental actuating forces in the movement of merchandise will still be the prices of goods in the several countries, and the relative levels of their domestic prices and their money incomes. But just how the prices of American goods, and the country’s general level of domestic prices and money incomes, will shape themselves or will be shaped under the newly developed banking and currency situation — he would be a rash man who ventured to predict. And hence he would also be rash who ventured on a prediction as to the ultimate structure of the country’s international trade, of its merchandise exports and imports, of its balance of payments with other countries, of the greater or less extent of its real gain from the total of all the transactions taken together.

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