The Foreign Trade of the United States; Its Character, Organization And Methods
The book The Foreign Trade of the United States; Its Character, Organization And Methods was written by author Lillian Cummings Ford Here you can read free online of The Foreign Trade of the United States; Its Character, Organization And Methods book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is The Foreign Trade of the United States; Its Character, Organization And Methods a good or bad book?
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Of course any one of the interests named may exercise the functions of another. Thus, a merchant may act as a broker or he may be a heavy specu- lator. A speculator in turn may be interested in the ownership of mills as a spiimer. The proper and professed functions of a cotton exchange may be briefly enimierated as follows: 1. The maintenance of suitable facilities for the con- duct of business by its members. 2. The adoption of rules and regulations for the conduct of such business. 3. The col...lection and dissemination of useful informa- tion. 4. The maintenance of Just and equitable principles in the trade. The system of future trading in cotton and, for that matter, in other staple products similarly dealt in, is based on contracts on the part of the seller to deliver, and, con- sequently, on the part of the buyer to receive, at a time subsequent to the making of the contract, a certain quan- tity of the product at a stipulated price. So far as the operation of the contract is concerned, it is immaterial whether or not the seller, at the time the contract is en- tered into, has the product in his possession, and, in fact, the term "futures" is very generally associated with transactions made at a time when the seller does not actu- ally have the product on hand.
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