Commercial Crises a Discussion of the Present Economic Situation And the Origin
Commercial Crises a Discussion of the Present Economic Situation And the Origin
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To quickly assess the difficulty of the text, read a short excerpt:
But trade of this kind, fostered by loans from the country whose goods are THE NINE TEE NTH CENTUR Y. 155 ordered, must, in the very nature of the case, be pre- carious. As the loans fall off, owing to the security- having been covered and no margin remaining, the trade falls off too, and cannot revive until, if the pro- duce of the loans has been spent in development, a natural exchange of the products of the two countries is established. So long as the period of inflation lasted, however, bus...iness was good, the workers were fully employed, and could strike for higher wages with good hope of success for the time being, as the East End of London dockers did and many others. Prices and wages had once more risen to something like their old levels ; orders could not be executed in con- sequence of the press of business — rails, for example, could not be had ; the speculation had kept pace with the general prosperity ; and yet all seemed so sound — for the Argentine and Uruguay are rich coun- tries — that people thought the market in the spring and summer of 1890 might still hold out for another tv/elve or eighteen months, though that South America was over-borrowing was universally admitted.
What to read after Commercial Crises a Discussion of the Present Economic Situation And the Origin?
You can find similar books in the "Read Also" column, or choose other free books by Isaac Henry Lionberger to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
But trade of this kind, fostered by loans from the country whose goods are THE NINE TEE NTH CENTUR Y. 155 ordered, must, in the very nature of the case, be pre- carious. As the loans fall off, owing to the security- having been covered and no margin remaining, the trade falls off too, and cannot revive until, if the pro- duce of the loans has been spent in development, a natural exchange of the products of the two countries is established. So long as the period of inflation lasted, however, bus...iness was good, the workers were fully employed, and could strike for higher wages with good hope of success for the time being, as the East End of London dockers did and many others. Prices and wages had once more risen to something like their old levels ; orders could not be executed in con- sequence of the press of business — rails, for example, could not be had ; the speculation had kept pace with the general prosperity ; and yet all seemed so sound — for the Argentine and Uruguay are rich coun- tries — that people thought the market in the spring and summer of 1890 might still hold out for another tv/elve or eighteen months, though that South America was over-borrowing was universally admitted.
What to read after Commercial Crises a Discussion of the Present Economic Situation And the Origin?
You can find similar books in the "Read Also" column, or choose other free books by Isaac Henry Lionberger to read onlineMoreLess
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