International Trade And Exchange a Study of the Mechanism And Advantages of Com
International Trade And Exchange a Study of the Mechanism And Advantages of Com
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In our eReader you can find the full English version of the book. Read International Trade And Exchange a Study of the Mechanism And Advantages of Com 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 International Trade And Exchange a Study of the Mechanism And Advantages of Com
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Subtracting $2 as cost of transportation, insurance, etc. , there is left $484. 65. If the gold can be purchased with a draft on an English bank, a draft which, because of the low rate of exchange, costs less than the above sum, the operation is profitable. (It is not intended to assert that the im- portation of so small a sum would be profitable. Rather is it here assumed that the 100 is only a part of a much RATE OF EXCHANGE AND FLOW OF SPECIE 113 larger sum. ) The low price of drafts, then, ...stimulates the demand for drafts as a means of paying for English gold. Thus, on the supply side as on the demand side, there is a limitation on the extent to which exchange can fall. In practice, the ordinary business man does not himself import gold but takes advantage of the demand for his drafts by banks which use the drafts to pay for gold. With importation of gold from England, as with exportation to England, allowance must be made for the possible slight fluctuation in the price of gold in terms of pounds sterling.
What to read after International Trade And Exchange a Study of the Mechanism And Advantages of Com?
You can find similar books in the "Read Also" column, or choose other free books by Harry Gunnison Brown to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Subtracting $2 as cost of transportation, insurance, etc. , there is left $484. 65. If the gold can be purchased with a draft on an English bank, a draft which, because of the low rate of exchange, costs less than the above sum, the operation is profitable. (It is not intended to assert that the im- portation of so small a sum would be profitable. Rather is it here assumed that the 100 is only a part of a much RATE OF EXCHANGE AND FLOW OF SPECIE 113 larger sum. ) The low price of drafts, then, ...stimulates the demand for drafts as a means of paying for English gold. Thus, on the supply side as on the demand side, there is a limitation on the extent to which exchange can fall. In practice, the ordinary business man does not himself import gold but takes advantage of the demand for his drafts by banks which use the drafts to pay for gold. With importation of gold from England, as with exportation to England, allowance must be made for the possible slight fluctuation in the price of gold in terms of pounds sterling.
What to read after International Trade And Exchange a Study of the Mechanism And Advantages of Com?
You can find similar books in the "Read Also" column, or choose other free books by Harry Gunnison Brown to read onlineMoreLess
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