{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; distribution
 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 transportation,
 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 interest,
 74: 86 n.. 199. 211, 274, 275. 339.

Say, L., 264, 267.
Security movements, in relation to international
 balances, see Contents, Ch.
18; effect of, on exchange fluctuations,
218; a means of international payments,
 266, and Ch. 22, passim; during
 the Great War, 310, 313.
Seven Years’ War, mechanism of remittances
 during, 276.