Deutscher Industrie- und Handelstag

Cost of living in German towns

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Monograph

Identifikator:: 891227946

URN:: urn:nbn:de:zbw-retromon-7337

Document type:: Monograph

Author:: Kessler, Gerhard http://d-nb.info/gnd/116145331

Title:: Die Arbeitsnachweise der Arbeitgeberverbände

Place of publication:: Leipzig

Publisher:: Verlag von Duncker & Humblot

Year of publication:: 1911

Scope:: 1 Online-Ressource (VII, 203 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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

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Document type:: Monograph

Structure type:: Chapter

Title:: IV. Vermittlungsergebnisse der Arbeitgebernachweise. Kritik der Nachweisstatistik

Collection:: Economics Books

GREAT BRITAIN, II 261 directly concerned nothing more than remittances in terms of money, lead almost at once to transfers of goods. The movement of exports and imports — the substantive course of international trade — responds with surprising promptness to the balance of international payments as a whole. The promptness is surprising because each constituent transaction, to repeat, is purely in terms of money. When individuals in a country like Great Britain make loans to other individuals (or governments) abroad, they undertake to put at the disposal of the borrowers merely so much of purchas- ing power, so much “money.” Yet the recorded transactions between countries show surprisingly little transfer of the only “money” that moves from one to the other — gold. It is the goods that move, and they seem to move at once; almost as if there were an automatic connection between these financial oper- ations and the commodity exports or imports. That the flow of goods should ensue in time, perhaps even at an early date, is of course to be expected; it is a commonplace in the theoretical reasoning that this must be the ultimate outcome. What is puzzling is the rapidity, almost simultaneity, of the commodity movements. The presumable intermediate stage of gold flow and price changes is hard to discern, and certainly is extremely short. I find it impossible to see how there can be a complete skipping of the intermediate stage — anything in the nature of an auto- matic connection. There is, of course, the case, discussed at length in the preceding pages, where no intermediate stage is to be expected at all; the case, namely, where those who make loans happen to stipulate also that the proceeds shall be used to buy specified goods of their own or of their associates. But in the “normal” case, which is exemplified in Britain’s trade for the period just examined, purchases of goods are not thus tied to the loans; and it would then seem to be only some sort of rounda- bout process, some disturbance or readjustment of monetary and price conditions, that could lead to the movement of goods. Be- ing roundabout, one would suppose that it would take time. And yet it appears to require practically none. It is true that a searching examination of the presumable links

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