A Study of Industrial Fluctuation An Enquiry Into the Character And Causes of T
A Study of Industrial Fluctuation An Enquiry Into the Character And Causes of T
Dennis Holme Robertson
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1904 . . 991 . . 1466 1905 . . 1117 127 . . 1518 4-0 1906 . . 1226 9-8 . . 1743 15-0 1907 . . 1434 16-9 . . 1880 7-9 The tendency for exports to increase at a faster rate than imports was interrupted in 1907 by large capital importa- tions, America having already absorbed her own accumu- lations. 4 Similarly the increase of the unfavourable trade balance of Canada from 0-6 million dollars in 1902 to 244 million dollars in 1912 5 argues a colossal increase of recent years in that country's impor...ts of capital. 6 While such 1 Moreover, while statistics of monthly and even of annual prb- duction, are lamentably deficient, the general consensus of opinion, supported by such figures as exist, is that the output of consumable goods increases considerably less rapidly than that of constructional goods, affording prima facie ground for supposing that the stocks thereof are at least as rapidly depleted. * " Extravagant consumption had retarded accumulation, while the demand of industry and governments for capital was unabated " (Sprague, EC.
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