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 ; international
 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 international
 trade, 17, 19; effectiveness
in various countries compared, see
Contents, Ch. 15; causes of differences
 in effectiveness, 194.
Labor costs, differences in, see Contents,
 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 comparative
 costs, 83; for England in the
19th century, 85.
[ndia, British and Indian wages compared,
 18, 154 ; effectiveness of labor in,
157, 163; demand for English goods,
157; flow of specie to, 157; effectiveness
 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; importance
 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 noncompeting
 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 complete
 free trade, 39; relation to domestic
prices, 40; data on, 42; when high,
not necessarily an obstacle to exportation,
 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 remittances
 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-