The Economic Journal: The Quarterly Journal of the Royal Economic Society, Volume 28Macmillan, 1918 - Economics Contains papers that appeal to a broad and global readership in all fields of economics. |
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Common terms and phrases
agricultural amount arithmetic mean Assignats average Bank of England banks British Capital Levy cash cent Committee commodities considerable cost currency debt demand depreciation duties ECONOMIC JOURNAL EDWIN CANNAN effect England estimate exchange expenditure exports fact figures Finance foreign France German gold Government important income tax increase index number index-number industry inflation interest Irving Fisher Jacobins labour less levy on capital loans London luxury luxury tax material capital median ment method millions organisation paid paper payment period possible practical premium present probably problem production Professor Mitchell profits proportion purchase purposes question realise redemption regard result revenue Royal Statistical Society Ruskin College saving scheme securities sinking fund special levy specie statistics Stock supply taxation tion trade trade unions United Kingdom valuation wages wealth whole women wool YVES GUYOT
Popular passages
Page 457 - Unless the machinery which long experience has shown to be the only effective remedy for an adverse balance of trade and an undue growth of credit...
Page 179 - ... things; why should we always say that it is those other things which have varied, and not the corn? That commodity is alone invariable which at all times requires the same sacrifice of toil and labour to produce it.
Page 96 - Is — not to fancy what were fair in life Provided it could be, — but, finding first What may be, then find how to make it fair Up to our means: a very different thing! No abstract intellectual plan of life Quite irrespective of life's plainest laws...
Page 15 - ... profit was unreasonable or excessive, and to any other circumstances of the case; so, however, that if the person from whom the goods are acquired, himself acquired the goods otherwise than in the usual course of his business, no allowance, or an allowance at a reduced rate, on account of profit shall be made : Provided, That where by virtue of these regulations, or any order made thereunder, the sale of the goods at a price above any price fixed thereunder is prohibited, the price assessed under...
Page 459 - Until this amount has been reached and maintained concurrently with a satisfactory foreign exchange position for at least a year, the policy of cautiously reducing the uncovered note issue should be followed. When reductions have been effected, the actual maximum fiduciary circulation in any year should become the legal maximum for the following year, subject only to the emergency arrangements previously recommended.
Page 456 - Act, 1844, operated automatically to correct unfavourable exchanges and to check undue expansions of credit. (Pars, 2 to 7.) During the war the conditions necessary to the maintenance of that standard have ceased to exist. The main cause has been the growth of credit due to Government borrowing from the Bank of England and other banks for war needs.
Page 15 - In the determining of such prices regard need not be had to the market price, but shall be had — (a) If the goods are acquired from the grower or producer thereof, to the cost of production and to the rate of profit usually earned by him in respect of similar goods...
Page 72 - I went to market with the money in my pocket and brought back my purchases in a basket; but now I take the money in a basket and bring the things home in my pocket.' I believe the highest price, relatively, I ever saw paid, was for a pair of boots. A cavalry officer, entering a little country store, found there one pair of boots which fitted him. He inquired the price.
Page 471 - The Four Pillars of the House that we propose to erect, resting upon the common foundation of the Democratic control of society in all its activities, may be termed, respectively : (a) The Universal Enforcement of the National Minimum ; (b) The Democratic Control of Industry ;-. (c) The Revolution in National Finance ; and (d) The Surplus Wealth for the Common Good.
Page 458 - We think it desirable, therefore, to fix the amount which should be aimed at as the central gold reserve, leaving the fiduciary issue to be settled ultimately at such amount as can be kept in circulation without causing the central gold reserve to fall below the amount so fixed.