Full text: International trade

228 
INTERNATIONAL TRADE 
movement but a series of different movements. If the world level 
of prices had remained unchanged, we should have expected in 
Canada a fall in the prices of imported goods, and a rise in the 
prices of domestic goods. Exported goods in the long run would 
have shown a movement similar to that of the domestic, but with 
a lag which would for some time keep their prices either on the 
same low level as the imported, or in a position intermediate 
between that of the imported and the domestic articles. In the 
actual state of things, however — the world level of prices not 
stationary, but advancing — we should expect goods imported 
into Canada to show some advance in price, but a less advance 
than the domestic, and less advance than the exported also. With 
prices rising everywhere, we should expect domestic prices in 
Canada to rise more than the gross average in that country, and 
much more than the gross average elsewhere. This is precisely 
what happened. The prices of domestic goods in Canada rose 
from 100 in 1900 to a range as high as 161 in 1913. Imported 
goods showed an advance unmistakably less. During the earlier 
years of the period they remained on the whole unchanged, but 
began to advance after 1905, and reached their maximum, only 
114, in 1913. Export goods moved in a range roughly half-way 
between these two, reaching 139 in 1912 and 134 in 1913. 
The details of the price changes, still further followed, remain in 
accord with the previsions of theory. (Thruout, prices for 1900 
are the base, 100.) A selected list of identical domestic commod- 
ities showed for Canada a rise to 162 by 1913; for the United 
States one only to 123 by the same year. Most significant was 
the change in wages and services. As has been said again and 
again, money rates of wages are the best single index of the move- 
ment of domestic prices. Canadian (weekly) wages rose to 145 
in 1912, 149 in 1913. British money wages showed virtually no 
advance at all during the period; the United States showed an 
advance distinctly less than Canada — to 123 in 1911 and 127 
in 1913. A novel and significant indication of the domestic price 
movements was the charge for hospital services (expense per 
patient per day), which rose to 145 bv 1913. House rents rose to
	        
Waiting...

Note to user

Dear user,

In response to current developments in the web technology used by the Goobi viewer, the software no longer supports your browser.

Please use one of the following browsers to display this page correctly.

Thank you.