Why We Trade And How We Trade; Or, An Inquiry Into the Extent to Which the Existing Commercial And Fiscal Policy of the United States Restricts the Material Prosperity And Development of the Country
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In our eReader you can find the full English version of the book. Read Why We Trade And How We Trade; Or, An Inquiry Into the Extent to Which the Existing Commercial And Fiscal Policy of the United States Restricts the Material Prosperity And Development of the Country Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Why We Trade And How We Trade; Or, An Inquiry Into the Extent to Which the Existing Commercial And Fiscal Policy of the United States Restricts the Material Prosperity And Development of the Country
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To quickly assess the difficulty of the text, read a short excerpt:
If the $100,000 received are expended in Chilian copper 62 J-VHY WE TRADE AND HOW WE TRADE.
and wool, and these commodities are brought to New York, there is or ought to be in the course of trade an- other profit ; and the American merchant gains both ways. On the other hand, if the Fall-River cloth is sold in Chili, and a bill of exchange is bought with the proceeds of the sale, and the same remitted to the United States^, there will not only be but one profit, but in addition a loss to the Am...erican merchant on the rate of exchange (which has to come through a third coun- try) ; for exchange in Chili on London uniformly rules high — as high as from I2^ to 15 per cent. But from this latter tax the Englishman, because his commerce with Chili is reciprocal and in the nature of barter, is prac- tically exempt. Technically, therefore, while a bill of exchange on London, bought in Valparaiso, will settle a debt as readily at Fall-River as at Manchester, an American merchant who should undertake to sell cloth in Chili and buy exchange with the proceeds, for home remittance and payment, would find himself " nowhere " in competition with his English competitor.
What to read after Why We Trade And How We Trade; Or, An Inquiry Into the Extent to Which the Existing Commercial And Fiscal Policy of the United States Restricts the Material Prosperity And Development of the Country?
You can find similar books in the "Read Also" column, or choose other free books by David Ames Wells to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If the $100,000 received are expended in Chilian copper 62 J-VHY WE TRADE AND HOW WE TRADE.
and wool, and these commodities are brought to New York, there is or ought to be in the course of trade an- other profit ; and the American merchant gains both ways. On the other hand, if the Fall-River cloth is sold in Chili, and a bill of exchange is bought with the proceeds of the sale, and the same remitted to the United States^, there will not only be but one profit, but in addition a loss to the Am...erican merchant on the rate of exchange (which has to come through a third coun- try) ; for exchange in Chili on London uniformly rules high — as high as from I2^ to 15 per cent. But from this latter tax the Englishman, because his commerce with Chili is reciprocal and in the nature of barter, is prac- tically exempt. Technically, therefore, while a bill of exchange on London, bought in Valparaiso, will settle a debt as readily at Fall-River as at Manchester, an American merchant who should undertake to sell cloth in Chili and buy exchange with the proceeds, for home remittance and payment, would find himself " nowhere " in competition with his English competitor.
What to read after Why We Trade And How We Trade; Or, An Inquiry Into the Extent to Which the Existing Commercial And Fiscal Policy of the United States Restricts the Material Prosperity And Development of the Country?
You can find similar books in the "Read Also" column, or choose other free books by David Ames Wells to read onlineMoreLess
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