Commercial Crises of the Nineteenth Century
Commercial Crises of the Nineteenth Century
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In our eReader you can find the full English version of the book. Read Commercial Crises of the Nineteenth Century 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 Commercial Crises of the Nineteenth Century
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If on the 46 other hand he borrows one thou- sand dollars at eight per cent per annum, he can make by credit in the same time (say three months) |50 less 120, or |30, without using any money of his own.
It should be easy now to under- stand why influences afifecting the cost and price of goods should result in crises. The manufac- turer and the merchant are both borrowers; they borrow to buy, and sell on credit. Where busi- ness is dull, they borrow little; where it is brisk, they borrow more; ...where it is excited and prices and wages increase rapidly, they borrow a great deal. Dur- ing a period of rising prices the risk run is slight, for goods bought can be sold and debts in- curred can be paid from the pro- 47 ceeds. But if the demand for j;oods be suddenly arrested and ])rices hesitate and then break, the situation of tlie borrower may be- come perilous. He may not be able to sell his goods save at a loss, yet he must pay his debt or renew it. If he extends his debt and the de- cline in prices continues, his peril becomes graver.
What to read after Commercial Crises of the Nineteenth Century?
You can find similar books in the "Read Also" column, or choose other free books by H M Henry Mayers Hyndman to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If on the 46 other hand he borrows one thou- sand dollars at eight per cent per annum, he can make by credit in the same time (say three months) |50 less 120, or |30, without using any money of his own.
It should be easy now to under- stand why influences afifecting the cost and price of goods should result in crises. The manufac- turer and the merchant are both borrowers; they borrow to buy, and sell on credit. Where busi- ness is dull, they borrow little; where it is brisk, they borrow more; ...where it is excited and prices and wages increase rapidly, they borrow a great deal. Dur- ing a period of rising prices the risk run is slight, for goods bought can be sold and debts in- curred can be paid from the pro- 47 ceeds. But if the demand for j;oods be suddenly arrested and ])rices hesitate and then break, the situation of tlie borrower may be- come perilous. He may not be able to sell his goods save at a loss, yet he must pay his debt or renew it. If he extends his debt and the de- cline in prices continues, his peril becomes graver.
What to read after Commercial Crises of the Nineteenth Century?
You can find similar books in the "Read Also" column, or choose other free books by H M Henry Mayers Hyndman to read onlineMoreLess
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