Problems of To-Day; A Discussion of Protective Tariffs, Taxation, and Monopolies

Problems of To-Day; A Discussion of Protective Tariffs, Taxation, and Monopolies

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1888 edition. Excerpt: charges has ultimately increased net revenues. Another illustration is given by the Standard Oil monopoly. Newspaper organs of monopoly tell us to admire the magnanimity of the Standard Oil people, who have reduced prices. This is a false statement. Prices have fallen in spite of their most strenuous efforts to keep them up, and this again illustrates the importance of political economy as a study for common schools. It is possible to say such absurd things in regard to the price of oil simply on account of the dense popular ignorance about those forces which make prices what they are. The production of oil has increased enormously, and those among my readers who are acquainted with the Standard Oil men will probably have heard them lament this. Now if they raised prices or maintained them, they would be obliged to keep their oil and waste it. They have always held back vast quantities of oil to maintain prices, and rumors reach us of a determined effort to diminish production; but, never-theless, it has been necessary to lower prices time and' time again to work off the quantity on hand. Prices must be '/ lowered in order to increase demand for the commodity. Apply this to railroads. They have enormous fixed charges which are entirely independent of the business they do, and the greater their business the more active use they make of their capital. In proportion as a road is not used to its utmost capacity, its capital is idle. Now, to help build up the country and supply themselves with business, it has been necessary for our railroads to reduce charges, otherwise they could not get the business which they needed. A portion of their business would simply not /j exist were it not for lower charges than those of earlier days. This tendency more

Product details

  • Paperback | 82 pages
  • 189 x 246 x 4mm | 163g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236543599
  • 9781236543592