The Science of Wealth: a Manual of Political Economy
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In our eReader you can find the full English version of the book. Read The Science of Wealth: a Manual 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 Science of Wealth: a Manual of Political Economy
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285 Those who sell for cash have immensely the advantage of those who give long credits, pa^rticularly under a mixed currency, which so largely increases the hazards of trade.
In those communities in which the people are generally poor, and their wants great and pressing, as in newly settled countries, credits are naturally much extended, and, of course, the rate of profits proportionally increased. This is known to be the case over a large part of our Western States. The people can afford to p...ay large profits, if by so doing they can get the use of capital, because capital pro- duces so large a return ; as, for example, one thousand dol- lars invested in the spring in ploughing the prairie, and getting in a crop of wheat, will, not unlikely, give a net profit, within six months, of one hundred per cent. But when such communities accumulate capital, and are able to pay as they purchase, they come to buy at greatly reduced rates, and profits fall to the minimum. This is the general law in all countries, though most clearly seen in new settlements.
What to read after The Science of Wealth: a Manual of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Amasa Walker to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
285 Those who sell for cash have immensely the advantage of those who give long credits, pa^rticularly under a mixed currency, which so largely increases the hazards of trade.
In those communities in which the people are generally poor, and their wants great and pressing, as in newly settled countries, credits are naturally much extended, and, of course, the rate of profits proportionally increased. This is known to be the case over a large part of our Western States. The people can afford to p...ay large profits, if by so doing they can get the use of capital, because capital pro- duces so large a return ; as, for example, one thousand dol- lars invested in the spring in ploughing the prairie, and getting in a crop of wheat, will, not unlikely, give a net profit, within six months, of one hundred per cent. But when such communities accumulate capital, and are able to pay as they purchase, they come to buy at greatly reduced rates, and profits fall to the minimum. This is the general law in all countries, though most clearly seen in new settlements.
What to read after The Science of Wealth: a Manual of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Amasa Walker to read onlineMoreLess
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