The Principles of Political Economy Applied to the Condition, the Resources, And the Institutions of the American People
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In our eReader you can find the full English version of the book. Read The Principles of Political Economy Applied to the Condition, the Resources, And the Institutions of the American People 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 Principles of Political Economy Applied to the Condition, the Resources, And the Institutions of the American People
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To quickly assess the difficulty of the text, read a short excerpt:
Again, accumulation is rapid when the rate of profits is large. If this rate is so high, that the savings of a few years may be made to produce as much as the original income from which those savings were made, then the prospect of being re- leased altogether from the necessity of labor will stimulate the habit of frugality to the utmost. The average rate of profits in this country is at least twice as large as in Great Britain ; for the interest of money here averages over six per cent, while ...the English government funds yield but three per cent, and the ordinary rate for short loans often falls below that point.
But the rate of profits on capital considerably exceeds the rate of interest on money ; for he who borrows capital undertakes the risk and care of employing it to advantage ; and, of course, he who lends his capital, because unwilling to take that risk and care on himself, will not expect so high a rate for it as he might obtain by using it himself. When a great deal can be made by the use of money, a great deal wiU be given for the use of it ; but stiU not so much, but that something shall re- main to compensate one for the skiU and industry that are required to use it to advantage.
What to read after The Principles of Political Economy Applied to the Condition, the Resources, And the Institutions of the American People?
You can find similar books in the "Read Also" column, or choose other free books by Bowen Francis to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Again, accumulation is rapid when the rate of profits is large. If this rate is so high, that the savings of a few years may be made to produce as much as the original income from which those savings were made, then the prospect of being re- leased altogether from the necessity of labor will stimulate the habit of frugality to the utmost. The average rate of profits in this country is at least twice as large as in Great Britain ; for the interest of money here averages over six per cent, while ...the English government funds yield but three per cent, and the ordinary rate for short loans often falls below that point.
But the rate of profits on capital considerably exceeds the rate of interest on money ; for he who borrows capital undertakes the risk and care of employing it to advantage ; and, of course, he who lends his capital, because unwilling to take that risk and care on himself, will not expect so high a rate for it as he might obtain by using it himself. When a great deal can be made by the use of money, a great deal wiU be given for the use of it ; but stiU not so much, but that something shall re- main to compensate one for the skiU and industry that are required to use it to advantage.
What to read after The Principles of Political Economy Applied to the Condition, the Resources, And the Institutions of the American People?
You can find similar books in the "Read Also" column, or choose other free books by Bowen Francis to read onlineMoreLess
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