The High Cost of Living: Changes in Gold Production and the Rise in Prices

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C. H. Kerr, 1913 - Cost and standard of living - 114 pages

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Page 35 - As the price both of the precious metals and of the precious ftones is regulated all over the world by their price at the moft fertile mine in it...
Page 32 - Neither are the profits of the undertakers of silver mines commonly very great in Peru. The same most respectable and well-informed authors acquaint us that when any person undertakes to work a new mine in Peru, he is universally looked upon as a man destined to bankruptcy and ruin, and is upon that account shunned and avoided by everybody. Mining, it seems, is considered there in the same light as here, as a lottery, in which the prizes do not compensate the blanks, though the greatness of some...
Page 9 - mind" is only another form of "life," and that morals are the necessary product of economic conditions. Cloth, 414 pages, $1.00. Principles of Scientific Socialism, by Charles H. VaiL Cloth, $1.00. The Republic, by NP Andresen. Cloth, $1.00. Revolutionary Essays, by Peter E. Burrowes. Cloth, $1.00. Rise of the American Proletarian, by Austin Lewis. An industrial history of the United States from the point of view of the wage worker. A careful reading of this interesting book will help the reader...
Page 8 - Similarly labor unions and trusts, if they actually restrain trade in the aggregate, will tend to increase the price level. This effect, however, is of quite a different kind from a direct raising of particular prices. From no point of view can the conclusion be justified that the main cause of the present rise in cost of living is due to labor unions. This rise in cost is world-wide, being felt in Europe and even in India, where American labor unions and labor leaders cannot, by the utmost stretch...
Page 6 - ... the credits, and thus re-establish the ratio. You here see the direct connection between trade on the one hand and gold on the other, and that it is not so much the production of gold as the amount of gold which can be obtained for the purpose of increasing bankers
Page 10 - July, 1905, reached its highest point in 1907 in October, from which month there was a general decline until August, 1908. Beginning with September, 1908, wholesale prices increased without a break in any month up to March, 1910; from this time to December, 1910, prices declined slightly.

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