Die Zollgesetze der österreichisch-ungarischen Monarchie nach dem gegenwärtigen Stande der Gesetzgebung nebst allen auf die Einhebung und Verwaltung der Zölle Bezug habenden Vorschriften und Erlässen

Valuation, depreciation and the rate base

Bibliographic data

Monograph

Identifikator:: 895603128

URN:: urn:nbn:de:zbw-retromon-10120

Document type:: Monograph

Author:: Merck, Klemens http://d-nb.info/gnd/1064962637

Title:: Merck's Warenlexikon für Handel, Industrie und Gewerbe

Edition:: Sechste, völlig neu bearbeitete Auflage

Place of publication:: Leipzig

Publisher:: G.A. Gloeckner, Verlag für Handelswissenschaft

Year of publication:: 1919

Scope:: 1 Online-Ressource (IV, 555 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: F

Collection:: Economics Books

THE STANDARD OF VALUE for example, as the capitalist holds, were in commodity units (coms) the government would have no power by inflation or otherwise to destroy the accumulated wealth of the individual unless he were foolish enough to hoard dollars. All govern- ments of countries which are heavily in debt naturally favor a decline of the value of the money unit because this decline carries with it a reduction of the tax burden. Our national debt of $20,000,000,000 or more with the dollar now at two- thirds of its pre-war value, is no greater burden for the nation to carry than $13,000,000,000 would have been before the phenomenal shrinkage of the purchasing power of the dollar. If all things were managed fairly, every one should be earning a number of dollars inversely proportional to the purchasing power of the dollar. The use of the com would bring this about. For the capitalist, however, who finds his bonds and other securities shrinking in value, there has been no general relief. His sacrifice has been real and he must expect no protection so long as he sub- mits to the prevailing custom. He, too, however, would hereafter get protection, as already stated, if some plan were adopted of expressing value in terms of commodity units. The banker would continue to deal in money as he does today except, however, that he would have recourse to the more stable unit of value, the com, when he lends money for a period of such dura- tion that the value of the money unit may materially change before the loan becomes due.* Rents, salaries and wages could be specified in coms instead of in dollars. In the case of the government employees whose prospective compensation in dollars must be forecast for a year, means would have to be found if this compensation be expressed In coms to make the tax levy adequate. The money equivalent of the commodity unit during the quarter preceding the fixing * As an example of how this may be done it may be noted that the employees of the Philadelphia Rapid Transit Co. are now being paid on a scale of wages con- trolled by a Commodity Index Number and that the Rand Cardex Companies have recently issued securities in the form of stabilized bonds, under the terms of which the commodity index number will determine the number of dollars per annum which the money invested in the bond will earn. 281

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