INDEX 
123 
compared, 154; effectiveness of labor 
in, see Contents, Ch. 15; sensitiveness 
of monetary system to gold flows, 
203 ; trade of, with Canada, 231 ; inter- 
national trade of, see Contents, Chs. 
20 and 21; capital exports of, 237, 246 ; 
earnings from shipping, 238; barter 
terms of trade, Ch. 21; movements 
of rupee exchange, 370; loans of, to 
Argentina, 401, Ch. 30, passim. 
Gross barter terms of trade, 113, 248; 
method of computing, 250. See also 
Barter terms of trade. 
Gutmann, 264 n. 
Hobson, C. K., 245 n. 
fapan, effectiveness of labor in, 174. 
Jevons, 158. 
Kent, J. F., 295 n. 
Kreps, T. J., 300 n., 417. 
Labor, mobility in relation to inter- 
national trade, 17, 19; effectiveness 
in various countries compared, see 
Contents, Ch. 15; causes of differ- 
ences in effectiveness, 194. 
Labor costs, differences in, see Con- 
tents, Ch. 15. 
Lauderdale, 195 n. 
Loans, 123, and Ch. 12, passim: effect 
on barter terms of trade, 254 ; foreign 
borrowings in United States after 1914, 
see Contents, Ch. 25; relation of 
United States Government loans to 
exports, 125, 314; to Argentina, 401, 
Ch. 30. passim. 
ce, effectiveness of production in Great 
Britain and United States, 171. 
[mmigrant remittances, 294. 
[mmobility of labor, 17, 19. 
“Impact” theory of rates of foreign 
exchange under paper currency, 344. 
[mport duties and barter terms of trade, 
141, and Ch. 13, passim. See also 
Protective tariff. 
(nconvertible paper, international trade 
under. See Contents, Ch. 26. 
[ncreasing returns, 82; relation to com- 
parative costs, 83; for England in the 
19th century, 85. 
[ndia, British and Indian wages com- 
pared, 18, 154 ; effectiveness of labor in, 
157, 163; demand for English goods, 
157; flow of specie to, 157; effective- 
ness of labor in, see Contents, Ch. 15; 
movements of rupee exchange, 370. 
[nferior disadvantage, 23. 
[nterest on capital, in relation to supply 
price, 62, and Ch. 7, passim; impor- 
tance in international trade, 67. 
[nterest payments, on loans, 123, 128, 
and Ch. 12, passim. 
[nternal economies, 84. 
[nternational balance of payments, 99, 
111; eyelical movements of, 128. 
[nternational goods, 35, 40. 
[nternational payments, in relation to 
monetary systems, see Contents, Ch. 
17; mechanism of, 197, 273; relation 
to commodity movements, 260. 
International prices, 34, and Ch. 5, passim. 
International securities. See Securities. 
“Invisible” items, 109. 
[ron industry, how affected by non- 
competing groups in United States, 
59; in England and United States 
compared. 168. 
Maguire, 264 n. 
Marshall, 9, 53, 84, 88 n., 229. 
Mercantilism, a popular point of view, 
79. 
Merchandise movements, relation of, to 
specie flows, 260; to export of capital, 
312. 
Mill, J. S., 4,43, 54, 101, 136 n., 146, 
199, 274. 
Mining industries, 86. 
Money costs, in relation to labor costs, 
161. 
Money wages, adjusted to effectiveness 
of labor, 21, 36; how far a sign of 
greater prosperity, 38; not necessarily 
equal between countries under com- 
plete free trade, 39; relation to domestic 
prices, 40; data on, 42; when high, 
not necessarily an obstacle to ex- 
portation, 79, 155: in relation to 
supply price, 115; in Europe and 
Orient, 154, and Ch. 14, passim; in 
Japan, 176 ; in Canada, 258. See also 
Wages. 
Monroe, A. E., 264 n. 
Moulton. 264 n_ 
Napoleonic period, mechanism of remit- 
tances during, 276. 
Nasse, E., 264 n. 
Net barter terms of trade, 113, 248; 
method of computing, 250. See also 
Barter terms of trade. 
Non-competing groups, 44, and Ch. 6, 
passim : in relation to German chem-