{24 
INDEX 
Br aR 
IS 
ical industry, 57 ; in the United States 
in the textile industries, 59; in iron 
industry, 59, 66; as regards unskilled 
labor, 60. 
Non-merchandise transactions, Ch. 11. 
Noyes, 289 n. 
O'Farrell, H. H., 264 n. 
Ohlin, B., 171'n. 
Orchard, J. E., 166 n. 
Orient. See India. 
Shaw, G. W., 183. 
Shipping charges, 132, 134; statistical 
complications, 136; earnings from, 
by Great Britain, 238. 
Silberling,/IN.' J., 275,:277. 
Silver exchange, international trade 
under, 369; bounty on exports under, 
386. See also Dislocated exchanges. 
Silverman, A. G., 259 n., 411, 414. 
Smith, Adam, 196, 274, 275, 276, 278. 
Social stratification, 53, 56. 
Soetbeer, A., 264 n., 272 n. 
Speare, C. F., 295 n. 
Specie, flow of, from West to Orient, 157 ; 
production in Australia and California, 
159; effect of flow on prices, 199, 208, 
243, 260; relation to bank deposits, 
201, 225; movements of, in settlement 
of international balances, see Contents, 
Ch. 18, 261; flow of, into Canada, 224 ; 
offect of flow of, on prices in Canada, 
227; flow of, into United States after 
1914, 309, 329; effect of flow of, on 
prices after 1914, 309, 329; distribu- 
tion of world output of, after 1900, 
298. See also Quantity theory of 
money. 
speculation, in foreign exchanges, 215, 
Ch. 4, passim, 375; in dislocated 
exchanges, Ch. 28. 
Sprague, 0. M. W., 307 n. 
Sugar-beet industry, as illustration of 
principle of comparative advantage, 
183. 
Sugar refining, effectiveness of production 
in Great Britain and United States, 
170. 
Superior advantage, 23. 
Supply price. See Domestic supply 
price. 
Sweden, effectiveness of labor in glass 
industry, 171. 
Tariff. See Protective tariff. 
Terms of trade. See Barter terms of 
trade. 
lextile industry, in United States, 59. 
Courist expenses, 119; in relation to 
terms of trade, 119; to distribution 
of wealth within a country, 120; of 
Americans, 324. . 
Transportation, effect of cost on terms 
of trade, 9; importance and influence 
of interest charge on railway trans- 
portation, 73, 181. Ste also Shipping, 
and Freight. 
Tribute payments and the like, 109. 
Tucker. R. S.. 280 n. 
JE 
APF iS 
Paish, G., 295 n. 
Paper standard. See Inconvertible 
paper. 
Passenger fares, 132. 
Pegging, 378. 
Prices, in different countries, 34, and Ch. 
5, passim; relation to wages, 153. 
Profits. See Business profits. 
Protective tariff, not essential to the 
maintenance of high wages, 38; how 
related to superior business ability, 
82; effect on barter terms of trade, 
142, 145, 305; effect of, on the iron 
industry in U. S., 188; on textile 
industry in U. S., 192; on comparative 
advantages, see Contents, Ch. 16; 
in U. S., see Contents, Ch. 16. 
Purchasing parity, doctrine of, 340, and 
Ch. 26, passim. 
Quantity theory of money, 11; relation 
to theory of international trade, 198. 
Rathbone, A., 315 n. 
Reciprocal demand, international and 
domestic, 54. 
Redfield, 165 n. 
Rent, in relation to supply price, 62, 78; 
compared to business profits, 81. 
Reserves, relation to deposits, 201, 207 ; 
in form of bills of exchange, 217; of 
Canadian banks, 225. 
Revenue duties. See Import duties. 
Ricardo, 4, 11, 43, 68; note on his 
method of handling capital and inter- 
est, 74: 86 n.. 199. 211, 274, 275. 339. 
Say, L., 264, 267. 
Security movements, in relation to inter- 
national balances, see Contents, Ch. 
18; effect of, on exchange fluctuations, 
218; a means of international pay- 
ments, 266, and Ch. 22, passim; dur- 
ing the Great War, 310, 313. 
Seven Years’ War, mechanism of remit- 
tances during, 276.