The Investors Review Volume 6

The Investors Review Volume 6

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1895 edition. Excerpt: ...extent, to fall back upon the yellow metal with which to liquidate a portion of their obligations to us. Such is, broadly, the abiding influence which works always in favour of shipments of gold to this country when times are No. 30, Vol. Vi.--October 1895. 13 "quiet." But there are an infinite number of secondary forces--some of them of high importance--also at work in the same direction. Not least of these is the cheapness of commodities. Owing to the fall in the prices of the simple products of nature, or of the mine and the farm, which most of our debtors have to depend on for the means of liquidating their debts to us, a much more severe strain is put upon them than they formerly felt. It may often take twice as much of their merchandise to furnish the necessary balance now than it formerly did, and the power to sell enough produce at any price is frequently wanting. When the State or private debtor cannot find in the market enough commercial bills to buy for remittance to pay obligations falling due, gold perforce must be bought and sent, under penalty of default. It is precisely this difficulty which is bringing the largest supply of the metal to us now, apart from the natural increase in gold imports due to the extension of the gold-mining industry', principally in South Africa, or from exceptional operations like that of the Chinese loan lately issued on the Continent, the proceeds of which have to be remitted to London, and probably spent here. The United States have been obliged to resume the shipments of gold to us, --as we from the first ventured to say they would, --principally because their exports to Europe do not amount to the value required if their debts are to be met without gold. American financiers have more

Product details

  • Paperback | 202 pages
  • 189 x 246 x 11mm | 372g
  • United States
  • English
  • black & white illustrations
  • 1236915313
  • 9781236915313