Political Economy
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In our eReader you can find the full English version of the book. Read Political Economy 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 Political Economy
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First of all the debts due in one place may be paid with bills owed in another place. Thus the Chinese taking more goods from England than they send thither, and sending to America more goods than they get thence, square their accounts by transferring their claims on their American debtors to their English creditors. Then again, as the rate of discount varies in different places, the loss of interest where bills are payable only after several months (called long bills as distinct from short bil...ls) is more in one place than another, not to speak of the varying uncertainty of solvency, or the peculiarities of credit in countries whose exports, being mainly land-produce, are hardly available for exportation except during the two or three months that follow the harvest. From all these complications and the consequent daily variations of the different exchanges, it follows that there BK. Ii. CH. Ix. THE FOREIGN EXCHANGES. 375 is room for much sagacity and much speculation in dealing with bills of exchange, currency, and bullion, so as to meet the balances between different commercial centres.
What to read after Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Charles Stanton Devas to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
First of all the debts due in one place may be paid with bills owed in another place. Thus the Chinese taking more goods from England than they send thither, and sending to America more goods than they get thence, square their accounts by transferring their claims on their American debtors to their English creditors. Then again, as the rate of discount varies in different places, the loss of interest where bills are payable only after several months (called long bills as distinct from short bil...ls) is more in one place than another, not to speak of the varying uncertainty of solvency, or the peculiarities of credit in countries whose exports, being mainly land-produce, are hardly available for exportation except during the two or three months that follow the harvest. From all these complications and the consequent daily variations of the different exchanges, it follows that there BK. Ii. CH. Ix. THE FOREIGN EXCHANGES. 375 is room for much sagacity and much speculation in dealing with bills of exchange, currency, and bullion, so as to meet the balances between different commercial centres.
What to read after Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Charles Stanton Devas to read onlineMoreLess
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