The Elements of Political Economy:
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In our eReader you can find the full English version of the book. Read The Elements of 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 The Elements of Political Economy:
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4. A stagnation of business may be the effect of legislation. Suppose the importation of coffee into this country be a million pounds per annum. This must be paid for, in some way, by the productions of our own industry ; and the demand for those productions to this extent, is for the sole purpose of 190 LEGISLATIVE ENACTMENTS.
paying for this coffee. There must, of course, be a great variety of exchanges required to collect these products, to bring them to the seaports, to ex- change them for ...coffee, and again to circulate this coffee throughout the country. Now, let a duty be laid upon coffee, which shall double its price, and thus diminish its consumption one half. The de- mand for one half of the products by which it was paid for, ceases, the demand for coffee, to this extent, also ceases ; and the labor of transportation on both articles is reduced one half. Here must be a stag- nation of business, in both of these articles ; and half the shipping thus employed, will, for a time, be useless.
What to read after The Elements of Political Economy:?
You can find similar books in the "Read Also" column, or choose other free books by Wayland, Francis, 1796-1865. [from Old Catalog] to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
4. A stagnation of business may be the effect of legislation. Suppose the importation of coffee into this country be a million pounds per annum. This must be paid for, in some way, by the productions of our own industry ; and the demand for those productions to this extent, is for the sole purpose of 190 LEGISLATIVE ENACTMENTS.
paying for this coffee. There must, of course, be a great variety of exchanges required to collect these products, to bring them to the seaports, to ex- change them for ...coffee, and again to circulate this coffee throughout the country. Now, let a duty be laid upon coffee, which shall double its price, and thus diminish its consumption one half. The de- mand for one half of the products by which it was paid for, ceases, the demand for coffee, to this extent, also ceases ; and the labor of transportation on both articles is reduced one half. Here must be a stag- nation of business, in both of these articles ; and half the shipping thus employed, will, for a time, be useless.
What to read after The Elements of Political Economy:?
You can find similar books in the "Read Also" column, or choose other free books by Wayland, Francis, 1796-1865. [from Old Catalog] to read onlineMoreLess
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