The High Cost of Living: Changes in Gold Production and the Rise in Prices |
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50 cents American amount of gold amount of labor average capital capitalistic method capitalistic system causes changes circulation of commodities Cloth crease decline demand for commodities depends discovery dividends duction of commodities duction of gold economic existing factors Frederick Engels gold and silver gold as money gold fields gold mining grow hand higher hoard increased demand increased gold production industrial italists John Spargo Joseph Dietzgen Karl Kautsky Karl Marx Kautsky KERR & COMPANY labor power law of value less mass of gold mass of money means method of production modities movement pound of gold precious metals present rise prices of commodities producing gold production of commodities production of gold profit rate proletariat prosperity rate of profit raw material rise in prices silver mines simple production Socialism Socialist tendency trade treasure United States Mint value of gold Varga Wholesale prices yearly production
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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 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 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 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.
Page 5 - The most direct and immediate way in which an influx of gold affects trade is by causing the banks to make advances on easier terms, so stimulating enterprise and causing an increase in the demand for commodities and services, and consequently a rise of prices.
Page 31 - This has been in part the cause and in part the result of the long technical backwardness in getting gold.
Page 11 - Bulletins 39, 46, 51, 57, 63, 66, 75, 81, 87, 93, and 99. cent higher than in March, 1910. Wholesale prices in December, 1912, were 12.8 per cent higher than in December, 1905; 3.6 per cent higher than in December, 1910, and 4.6 per cent higher than in December, 1911. Wholesale prices for 1912, as stated above, were higher than for any other year of the 23-year period, 1890 to 1912, covered by the Bureau of Labor Statistics price reports, and they were also higher than for any year since 1883.1 PRICES...
Page 11 - December, 1910, but through the year 1911 the fluctuation from mouth to month was small. During the first months of 1912 prices rose rapidly until May, when slight recessions occurred during June and August. In September and October prices were again higher, reaching the level of May in November, with a loss in December, 1912, of less than one-fourth of 1 per cent. Wholesale prices in May and November, 1912, were higher than at any other time in the...