Clue to the Economic Labyrinth;
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In our eReader you can find the full English version of the book. Read Clue to the Economic Labyrinth; 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 Clue to the Economic Labyrinth;
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(I hope I need not go into details to show how the exporter draws on England for the proceeds of his exports, and how the importer buys the draft directly or from the banks to pay for his imports.) The surplus of the export proceeds is paid in gold by the foreign countries, which gold, as a rule, does not come here, but is paid for the interest dues of our English creditors! As this surplus is not.enough to pay for the whole 244 Clue to the Economic Labyrtntk of these dues, we have to borrow mo...re gold on bonds and mortgages; and this would continue if nothing else changed, never mind what our currency may be. Our mortgage debtors and the treasuries of the State and the public bodies would have to find directly or indirectly (through taxation) the gold to pay their interest dues as they now do, either through exports or new gold debts.
Gold at a Premium That the gold they have to borrow might be held at a premium, after gold is no more the basis of our currency, even in case of the scientific currency here proposed, does not at all change matters, for so would the gold proceeds of our exports be at a premium.
What to read after Clue to the Economic Labyrinth;?
You can find similar books in the "Read Also" column, or choose other free books by Flürscheim, Michael, 1844-1912 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
(I hope I need not go into details to show how the exporter draws on England for the proceeds of his exports, and how the importer buys the draft directly or from the banks to pay for his imports.) The surplus of the export proceeds is paid in gold by the foreign countries, which gold, as a rule, does not come here, but is paid for the interest dues of our English creditors! As this surplus is not.enough to pay for the whole 244 Clue to the Economic Labyrtntk of these dues, we have to borrow mo...re gold on bonds and mortgages; and this would continue if nothing else changed, never mind what our currency may be. Our mortgage debtors and the treasuries of the State and the public bodies would have to find directly or indirectly (through taxation) the gold to pay their interest dues as they now do, either through exports or new gold debts.
Gold at a Premium That the gold they have to borrow might be held at a premium, after gold is no more the basis of our currency, even in case of the scientific currency here proposed, does not at all change matters, for so would the gold proceeds of our exports be at a premium.
What to read after Clue to the Economic Labyrinth;?
You can find similar books in the "Read Also" column, or choose other free books by Flürscheim, Michael, 1844-1912 to read onlineMoreLess
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