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Foreign Exchange Before, During, and After the War

Foreign Exchange Before, During, and After the War


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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. 1922. Excerpt: ... FOREIGN EXCHANGE BEFORE, DURING, AND AFTER THE WAR CHAPTER I. The Market And Its Meaning. 1. Ours is a weary and disillusioned generation, dealing with a world which is nearer collapse than it has been at any time since the downfall of the Roman Empire. The problem which is discussed in this little book is an integral part of the general problem of reconstruction after the ravages of war. It will be shown in detail in the course of the subsequent chapters that the main cause of the dislocation of the exchanges has been the almost universal disregard of the rules of common sense in the treatment of the money supply of the world, or, as it is usually put, the dislocation of the exchanges is an inevitable effect of inflation. But this task of detailed explanation cannot be anticipated by mere repetition of phrases. It will suffice if we point to some of the difficulties of the moment, which arise directly from the dislocation of the exchanges. A wool merchant with whom I talked a few days ago pointed out to me that at present it was a profitable policy to re-import from Constantinople woollen goods which had been sent out there shortly after the Armistice. This strange proceeding was justified by the fact that the dislocation of the exchanges was now so great that local importers who had imported and paid for these goods some time ago now made a larger profit, in consequence of the fall in the value of Turkish currency, if they resold them at a loss in terms of pounds, than if they sold them in the Turkish capital. The journalists who have been touring the "enemy countries" have come back with glowing stories of the prosperity of those areas based upon the fact that they could live in the best hotels and enjoy exquisite meals at a cost in pounds which...


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Product Details
  • ISBN-13: 9780217806633
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 34
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 0217806635
  • Publisher Date: 02 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 82 gr

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