,,transcrib]',s ,,note3 ,italic text is d5ot$ by und]scores & bold text by equal signs4 ,,manual ,,( ,,ref]5ces ,,& ,,ex]cises ,,9 ,,economics ,,= ,,use ,,) ,,volume ,,ii4 ,,mod]n ,,economic ,,problems ,,by ,,frank ,a4 ,,fett]1 ,,ph4,d41 ,,ll4,d4 ,,pr(essor ,,( ,,economics1 ,,pr9ceton ,,univ]sity ,illu/ration ,,new ,,york ,,! ,,c5tury ,,co4 #aiag ,,=eword ,?is ,manual foll[s ! l9es ( ! ,manual ( ,ref]5ces & ,ex]cises1 publi%$ 9 ! autumn ( #aiaf1 to accompany ! volume on ,economic ,pr9ciples4 ,! lit]ature ( ! field treat$ 9 ,mod]n ,economic ,problems is n[ s va/ t no m ?an a few ( ! titles c\ld be includ$ 9 ! foll[+ li/s4 ,! ref]5ces giv5 are usually ! m rec5t ( ^? t w\ld be helpful to /ud5ts desir+ to g m deeply into ! subjects4 ,! collection ( que/ions & ex]cises is bas$ ^u ! li/ pr9t$1 fir/ 9 #aijd & mu* enl>g$ 9 #aiaj1 9 ! au?or's ,pr9ciples ( ,economics4 ,mu* mat]ial has be5 add$ t _h be5 %ap$ & us$ 9 class "w at ,pr9ceton ,univ]sity1 & a few o!r problems h be5 drawn f1 or sugge/$ by1 o!r publi%$ li/s4 ,! plan ( indicat+ ! orig9al s\rces ( a numb] ( ^! que/ions has be5 f\nd to be too difficult to be complet$ = ! pres5t edition4 ,inde$1 x appe>s t num]\s te/ problems h become a common h]itage = economic tea*]s1 & "o c h>dly be sure :5 "o has trac$ ! ideas to _! orig9al s\rces4 ,"s ( !m h appe>$ 9 some:at diff]+ =ms 9 v>i\s li/s = a half c5tury pa/4 ,p>ticul> ackn[l$gm5t is made to my colleagues1 ,pr(essors ,adriance & ,mc,cabe1 :o devis$ a numb] ( ! que/ions = class use2 & to ,dr4 ,/anley ,e4 ,h[>d1 :o has giv5 mo/ valuable aid 9 ! prep>ation ( ?is ,manual 9 its pres5t =m4 ,f4 ,a4 ,f4 ,pr9ceton1 ,n4 ,j41 ,febru>y1 #aiag4 ,,manual ,,( ,,ref]5ces ,,& ,,ex]cises ,,9 ,,economics ,,manual ,,( ,,ref]5ces ,,& ,,ex]cises ,,9 ,,economics ,,*apt] ,i ,,mat]ial ,,res\rces ,,( ,,! ,,nation ,,ref]5ces4 7,^? m>k$ ) an a/]isk 7997 are ! %ort] assignm5ts t are mo/ applicable47 ,adams1 ,c4 ,c41 ,comm]cial geography4 #aijf4 ,m>%1 ,g4 ,p41 ,man & nature3 or physical geography z modifi$ by human action4 #ahfd4 7,lat] editions "u ! title1 ,! e>? z modifi$ by human action47 99,mat]ials1 #eh-fa 7,extract f ,mason1 ,o4 ,t41 ,te*nogeography1 or ! relation ( ! e>? to ! indu/ries ( mank9d4 ,am]ican ,an?ropologi/1 #g3 #ace-aeh4 #aije72 #fa-ff 7extract f ,semple1 ,e4 ,c41 ,influ5ce ( geographic environm5t4 #aiaa47 ,smi?1 ,j4 ,r41 ,indu/rial & comm]cial geography1 #aiac4 99,s\rce ,book1 #bib-cjb 7extract f72 ,daniels1 ,w4 ,m41 ,economic causes z affect+ ! political hi/ory ( ! ,unit$ ,/ates4 ,acc\ntants' ,magaz9e1 ,may1 #aijg4 ,teele1 ,r4 ,p41 ,irrigation 9 ! ,unit$ ,/ates4 #aiae4 ,trott]1 ,s41 ,! geography ( comm]ce4 #aijc4 ,unit$ ,/ates ,c5sus1 #aiaj4 ,volume on weal?1 debt1 & taxation4 ,van ,hise1 ,c4 ,r41 ,cons]vation ( natural res\rces4 #aiaj4 ,,que/ions4 #a4 ,:at relation c be obs]v$ betwe5 g5]al indu/rial conditions & ! p] capita weal?8 ,betwe5 ! "* ( ! p & ! p] capita weal?8 ,c c\ntries be gr\p$ geographically accord+ to p] capita weal?8 #b4 ,h[ does ! ,unit$ ,/ates comp>e ) o!r c\ntries ) respect to ! e/imat$ am\nts & values ( c]eal products8 ,textile fibres8 ,coal8 ,iron & copp] ore8 ,pres5t ! results ( y\r /udy 9 tabul> =m4 #c4 ,f ! reports ( ! ,?irte5? ,c5sus prep>e a /atem5t 9 tabul> =m %[+ ! geographical di/ribution ( our *ief dome/ic s\rces ( supply ( ! lead+ c]eals1 ( neat cattle1 ( textile fibres1 ( coal1 iron ore & copp] ore1 & ( wat] p[]4 #d4 ,:at physical conditions acc\nt = ! greatness ( anci5t ,egypt1 ( ,v5ice1 ( ,holl&1 ( ,engl&1 ( ! ,unit$ ,/ates8 #e4 ,has ! iso!rmal l9e any relation to ! numb] ( millionaires8 ,,*apt] #b ,,! ,,pres5t ,,economic ,,sy/em ,,ref]5ces4 ,cooley1 ,c4 ,h41 ,human nature & ! social ord]4 #aijb4 ,cooley1 ,c4 ,h41 ,p]sonal competition4 ,am]4 ,econ4 ,assn41 ,econ4 ,/udies1 #d3 #gh-agc4 #ahii4 99,ely1 ,r4 ,t41 ,competition3 its nature1 its p]man5cy1 & its b5efic5ce4 ,a4 ,e4 ,assn4 ,pubs41 #c;d s]41 #b3 #ee-gj4 #aija4 ,ely1 ,r4 ,t41 ,evolution ( indu/rial society4 #aijc4 ,ely1 ,r4 ,t41 ,prop]ty & contract 9 _! relation to ! di/ribution ( weal?4 #aiad4 7#b vols47 ,gidd+s1 ,f4 ,h41 ,! economic ages4 ,p4 ,s4 ,q41 #af3 #aic-bba4 #aija4 99,gray1 ,john ,h41 ,economics & ! law4 ,a4 ,e4 ,rev41 #e 7no4 #a1 supp473 #c-bc4 #aiad4 ,k9ley1 ,david1 ,! r5ew$ ext5sion ( gov]nm5t control ( economic life4 ,a4 ,e4 ,rev41 #d 7no4 #a1 supp473 #c-ag4 #aiad4 ,s*moll]1 ,gu/av1 ,! m]cantile sy/em4 ,trans4 by ,a%ley1 #ahif4 ,,que/ions4 #a4 ,/ate briefly & criticize ! !ories ( ! orig9 ( private prop]ty4 #b4 ,:at h be5 ! !ories put =w>d to ju/ify ! sy/em ( private prop]ty 9 ! pa/8 #c4 ,"u private prop]ty1 c m5 compla9 ( ! use made by o!rs ( _! weal? on ! gr\nd m]ely t x 0 unwise8 #d4 ,:at are ! recogniz$ limitations ^u ! "r ( private prop]ty8 ,are ^! limitations 9 opposition to ! pr9ciple by :i* private prop]ty is n[ g5]ally def5d$8 #e4 ,is ! "r ( beque/ a necess>y condition ( private prop]ty8 #f4 ,d y "k ( any fa!r :o creat$ m weal? because he c\ld bequea? x to 8 son8 #g4 ,does ! son "w z h>d :5 he inh]its 8 fa!r's weal?8 #h4 ,:at is ! effect ( private prop]ty on sav+8 #i4 ,:at is meant by ! ,factory ,sy/em8 #aj4 ,?r\gh :at hi/oric /ages has production pass$8 ,,*apt] #c ,,nature1 ,,use ,,& ,,co9age ,,( ,,money ,,ref]5ces4 ,jevons1 ,w4 ,s41 ,money & ! me*anism ( ex*ange4 #ahge4 ,*s4 ,,iii-,,vii1 ,,xiii4 99,johnson1 ,j4 ,f41 ,money & curr5cy4 #aije4 ,*s4 ,i1 ,,ii1 ,,ix4 99,phillips1 ,c4 ,a4 7,ed471 ,read+s 9 money & bank+4 #aiaf4 ,*s4 ,i-,,iii1 ,,xiv4 ,walk]1 ,f4 ,a41 ,money 9 its relations to trade & indu/ry4 #a/ ed4 #ahgi4 ,*s4 ,i1 ,,ii4 ,:ite1 ,horace1 ,money & bank+ illu/rat$ by ,am]ican hi/ory4 ,ed4 #aiad4 ,bk4 ,i4 ,,que/ions4 #a4 ,:at are ! qualities ( metallic money8 #b4 ,:at is ! difficulty 9 decid+ :e!r to call ! foll[+ money3 gold +ots1 gold co91 silv] doll>s1 copp] c5ts1 gre5backs1 bank-*ecks1 *alk-m>ks to keep acc\nt8 #c4 ,:o makes co9s8 ,w\ld jewel]s make bett] ones8 #d4 ,:at are ! advantages & disadvantages ( a seigniorage tax8 ,,*apt] #d ,,! ,,value ,,( ,,money ,,ref]5ces4 ,fi%]1 ,irv+1 ,! pur*as+ p[] ( money4 #aiaa4 ,gibson1 ,?omas1 ,special m>ket lett]s on ! increas+ gold supply & its effect on security values2 int]e/ rates2 commodity prices1 etc4 #aijh4 99,johnson1 *s4 ,,iii-,,viii1 ,x4 ,kemm]]1 ,e4 ,w41 ,money & cr$it in/rum5ts 9 _! relation to g5]al prices4 #b;d ed4 #aiji4 ,magee1 ,j4 ,d41 ,money & prices4 ,j4 ,p4 ,e41 #ba3 #fha-gaa1 #gih-hah4 #aiac4 99,phillips1 *s4 ,,viii1 ,,xi4 ,r\nd table discussion1 ,money & prices4 ,a4 ,e4 ,assn4 ,bul41 #d? s]41 #a 7no4 #b73 #df-gj4 #aiaa4 99,s\rce ,book1 #cjc-cac4 7,extract f report ( ! ,secret>y ( ! ,treasury1 #aiaa47 ,unit$ ,/ates ,secret>y ( ! ,treasury1 ,f9ance report1 #aiaa4 ,walk]1 ,f4 ,a41 *s4 ,,iv1 ,v4 ,,que/ions4 #a4 ,:at are ! functions ( money8 #b4 ,:at are ! pr9cipal ?+s besides money uses t cause a dem& = gold & silv]8 #c4 ,:y d y value money8 ,d y value x m ?an ! ?+s x buys8 #d4 ,:5 goods are ex*ang$ = money or money = goods1 :at is ! ga98 #e4 ,if money is a tool1 :at does x make8 #f4 ,:5 gold comes out ( ! m9e is ! ga9 to ! community great] or less ?an :5 ! same value ( gra9 is h>ve/$8 #g4 ,are m5 weal?y 9 proportion to ! money !y h8 ,are c\ntries8 #h4 ,w\ld a nation be poor]1 if1 l ,sp>ta1 x prohibit$ all money8 #i4 ,is a community poor because x has little money 9 circulation or does x h little money 9 circulation because x is poor8 #aj4 ,c\ld a c\ntry bett] d )\t money1 horses1 or roads8 #aa4 ,:y does ne>ly all ! gold produc$ 9 ,cali=nia leave ! /ate8 ,:at keeps any ( x !re8 #ab4 ,! m9t price ( an ounce ( gold1 4#ijj f9e1 is alike at ,san ,francisco & ,philadelphia1 #ah4fjd4 ,:y is gold ev] %ipp$ f ,cali=nia to ,new ,york8 #ac4 ,does gold co/ ! day-labor] z mu* 9 ,cali=nia z 9 ,new ,york8 #ad4 ,note any habits ( fri5ds t result 9 _! c>ry+ m or less money ?an o!rs ( ! same income4 #ae4 ,:at det]m9es ! am\nt ( money ne$$ by diff]5t p]sons1 t[ns1 /ates1 & nations8 #af4 ,give examples ( ?+s t increase ! dem& = money4 #ag4 ,on an isolat$ isl& w\ld x make any diff]5ce z to ! value ( money if !re 7 b "o gold-m9e or sev]al compet+ ones1 suppos+ t ! output 7 ! same8 #ah4 ,:at p] c5t4 ( ! total money 9 ! _w is ! ye>ly output ( gold2 ( silv]2 ( gold & silv]8 ,/at4 ,ab/4 #ai4 ,is ! value ( gold & silv] due to ! action ( gov]nm5t8 #bj4 ,9 :at ways may ! gov]nm5t det]m9e ! value ( ! monet>y /&>d8 #ba4 ,if all ! diff]5t d5om9ations ( m$ia ( ex*ange 7 d\bl$ 9 numb]1 ex*anges rema9+ un*ang$1 :at w\ld be ! effect ^u prices8 #bb4 ,is x true ( all commodities t *anges 9 supply affect _! value proportionally8 ,is x true ( money8 ,if 9 y\r op9ion !re is any diff]5ce1 expla9 x4 #bc4 ,if ! am\nt ( coal 9 a c\ntry %\ld be increas$ tw5ty-five p] c5t41 9 :at p]c5tage w\ld y expect ! value ( coal to *ange8 ,give reasons4 ,if ! am\nt ( money 9 a c\ntry %\ld be increas$ tw5ty-five p] c5t41 9 :at direction & 9 :at p]c5tage w\ld ! value ( money *ange8 ,give reasons4 7,9 ea* case ! condition is o!r ?+s be+ equal47 #bd4 ,if 9 a giv5 community all wat* cases 7 made ( gold1 & ea* case conta9$ "o ounce ( gold1 w\ld y expect ! value ( wat* cases to fall by exactly "o-half if ! numb] ( wat* cases 9 ! community 7 d\bl$1 all o!r ?+s rema9+ ! same8 ,if 9 ano!r community 7at ano!r "t7 all ex*anges 7 made exclusively by ! use ( gold co9s1 ea* conta9+ an ounce ( pure gold1 w\ld y expect t prices 9 g5]al w\ld be exactly d\bl$ 9 case no *ange occurr$ 9 ! community except a d\bl+ ( ! numb] ( co9s 9 circulation8 #be4 ,:y might an increas$ resort to b>t] produce ^u ! g5]al level ( money prices effects simil> to ^? produc$ by an increas$ use ( cr$it m$ia ( ex*ange8 #bf4 ,:at gives rise to ! belief sometimes held t money is an inv>iable /&>d ( value8 #bg4 ,def9e depreciation & appreciation ( ! curr5cy4 ,:at causes may produce ei!r8 ,:at are ! effects ( ei!r8 ,m g5]ally1 :at det]m9es ! value ( ! curr5cy8 #bh4 ,if gold 7 to become z pl5tiful z iron1 w\ld x be wor? m or less ?an iron8 #bi4 ,a nation hav+ no =eign trade _h orig9ally 9 circulation #a1jjj1jjj co9s1 ea* call$ a flor91 & ea* conta9+ an ounce ( pure metal4 ,to ?is orig9al co9 circulation ! gov]nm5t adds #ejj1jjj flor9s ea* conta9+ "o-half ounce ( pure metal1 & at ! same "t ! gov]nm5t adds to ! circulation #fjj1jjj flor9s 9 ! %ape ( inconv]tible pap]4 ,bo? ! half ounce flor9 & ! pap] flor9 are by law made legal t5d] = a full weight flor94 ,9 ! abs5ce ( any t5d5cy to discrim9ate betwe5 accept+ diff]5t k9ds ( flor9s 9 dome/ic trade1 & ) no o!r *anges 9 ! money situation except su* z are necessitat$ by ! a=esaid additions to ! circulat+ m$ium1 tell1 fir/1 :at ultimately w be ! numb] ( flor9s 9 circulation1 & give y\r reasons2 & tell1 second1 ( :at k9ds ( flor9s & 9 :at proportions ! ultimate circulat+ m$ium w be compos$4 #cj4 ,assume a c\ntry us+ gold alone z money & hav+ 9 circulation #b1jjj1jjj co9s1 "u a sy/em ( free co9age4 ,:at w\ld be ! effect ( clos+ ! m9ts & issu+ #a1ejj1jjj new co9s conta9+ n9e-t5?s z mu* gold z ! co9s above m5tion$1 assum+ t ! numb] ( goods ex*ang$ rema9s ! same8 ,expla9 cle>ly4 ,:at is ! total quantity ( su* new co9s ! gov]nm5t c issue & keep 9 circulation8 ,expla9 cle>ly4 #ca4 ,a c\ntry us+ gold money z its sole m$ium ( ex*ange1 "u free & gratuit\s co9age1 makes ! foll[+ *ange3 x imposes a seigniorage *>ge ( t5 p] c5t41 b )\t giv+ up free co9age or r$uc+ ! am\nt ( f9e gold 9 ! co94 ,to :at ext5t & 9 :at direction w ! value ( money *ange1 if at all 7a7 if ! numb] ( goods ex*ang$ gradually increases five p]c5t42 7b7 if ! numb] ( goods ex*ang$ gradually increases tw5ty-five p]c5t48 ,give y\r reasons cle>ly4 ,,*apt] #e ,,fiduci>y ,,money1 ,,metal ,,& ,,pap] ,,ref]5ces4 99,jevons1 *s4 ,,viii1 ,,xvii1 ,,xviii4 99,johnson1 *s4 ,,xiii-,,xvi4 ,kemm]]1 ,e4 ,w41 ,mod]n curr5cy re=ms4 #aiaf4 99,phillips1 *s4 ,,iv1 ,v1 ,,xii4 ,unit$ ,/ates ,director ( ! ,m9t1 ,annual reports4 ,walk]1 *s4 ,,viii-,,xii4 ,:ite1 ,bk4 ,,ii1 *s4 ,,iii-,,vi4 ,,que/ions4 #a4 ,:5 #eafj gra9s ( /&>d gold 7i4e41 by weight n9e-t5?s f9e1 ) ! o!r t5? compos$ ( ! alloy us$ 9 gold co9 ( ! ,unit$ ,/ates7 sell 9 ,new ,york = #bja4be has ! money saturation po9t be5 rea*$ or exce$$1 & w bullion be tak5 to ! m9t or co9 melt$ d[n or export$8 #b4 ,def9e legal-t5d] z appli$ to money4 ,:at is meant by fiat money8 #c4 ,is a ,unit$ ,/ates /&>d silv] doll> commodity or fiduci>y money8 ,:at det]m9es its value8 ,( :at importance is its legal t5d] quality8 #d4 ,is ! provision ( law :]eby ! fractional silv] co9s ( ! ,unit$ ,/ates are ( less proportionate silv] cont5t ?an ! /&>d silv] doll> necess>y to-day8 ,is x useful8 ,give y\r reasons4 #e4 ,"u :at conditions w bad money fail to displace good money f circulation8 #f4 ,"u :at circum/ances w money t is n 9 fact conv]tible into o!r money h great] value ?an ! mat]ial ( :i* x 7! fir/ m5tion$ money7 is made8 ,give an example f ! monet>y exp]i5ce ( ! ,unit$ ,/ates4 #g4 ,9 a c\ntry :i* has hi!rto _h free & gratuit\s co9age ( gold1 ! gov]nm5t in/itutes a seigniorage *>ge ( five p] c5t4 by r$uc+ to t ext5t ! am\nt ( gold put into ea* co92 ! gold )held by ! gov]nm5t is n co9$4 ,:at w be ! effect ( ?is seigniorage *>ge ^u 7a7 prices 9 t c\ntry1 7b7 ! comp>ative value ( ! gold 9 a new co9 & ! same weight ( unco9$ gold8 ,make y\r reason+ cle>4 #h4 ,if a nation's entire money circulation consi/+ ( #a1jjj1jjj co9s1 all ( !m debas$ by a seigniorage *>ge ( #ej p] c5t41 7 at once increas$ by ! gov]nm5t's putt+ into circulation #cjj1jjj pieces ( inconv]tible pap] money1 ea* piece ( ! same d5om9ation z ea* co91 :at effects might be anticipat$ on ! basis ( ,gre%am's law or o!rwise1 x be+ presuppos$ t ! full am\nt ( full weight co9 requir$ to conduct ! nation's ex*anges is only #ijj1jjj8 ,give y\r reasons4 #i4 ,a c]ta9 isl& has no silv] m9es & no =eign trade4 ,x effects all its ex*anges by ! actual use ( silv] co9 ^: co9age is free & gratuit\s4 ,x has no banks1 & does n resort ei!r to b>t] or to cr$it4 ,silv] is also us$ 9 ! %ape ( plate 9 ! isl&4 ,orig9ally x _h #ajj1jjj silv] co9s 9 circulation1 ea* conta9+ "o ounce ( pure silv]4 ,aft] a c]ta9 date1 z ^! co9s 7 paid into ! gov]nm5t treasury = taxes1 at ! rate ( #e1jjj "o-ounce co9s p] week1 ! "o-ounce co9s 7 melt$ & ! result+ bullion 0 reca/1 ea* new co9 weigh+ #b ounces & be>+ ! same "n z ! orig9al "o-ounce co9s4 ,!reaft] all co9s /ruck at ! isl& ,m9t conta9$ two ounces ( silv]1 & at t /&>d co9age cont9u$ free & gratuit\s4 ,:5 ! gov]nm5t fir/ pays out ! new #b-ounce pieces1 w !y rema9 9 circulation ) ! old "o-ounce co9s & h ! same pur*as+ p[]8 ,give reasons4 #aj4 ,if ! above-describ$ process ( rem9t+ #e1jjj "o-ounce co9s p] week cont9ues = twelve weeks & !n /ops1 h[ _m old & h[ _m new co9s w at ! end ( ! twelf? week be 9 circulation8 ,reasons4 #aa4 ,! gov]nm5t ( ! isl& ( ,gu]nsey hav+ no money1 issu$ pap]-notes to pay = ! build+ ( a m>ket4 ,!y circulat$ & 7 gradually tak5 up z ! m>ket e>n$ its co/1 dur+ t5 ye>s4 ,:5 !y 7 all r$eem$ & burn$1 ! isl& _h ! m>ket free ( co/4 ,expla9 h[ ?is c\ld be done4 7,f ,sumn]'s ,problems 9 political economy47 #ab4 ,suppose a nation has #a1jjj1jjj1jjj gold co9s1 ea* weigh+ "o ounce 7,troy7 z its only circulat+ m$ium4 ,suppose t ! gov]nm5t enacts t h5ce=? co9s w be utt]$ conta9+ only #ii p] c5t4 z mu* pure gold z h]et(ore1 ! gov]nm5t tak+ "o p] c5t4 = its own use4 ,suppose o!r ?+s rema9 ! same4 ,:at effect w ?is action h on ! numb] ( co9s circulat+8 ,w prices be affect$8 ,n[ suppose ! dem& = money increases4 ,w bullion own]s br+ _! bullion to ! m9t = co9age8 ,suppose ?is gov]nm5t _h cont9u$ to utt] co9s ( ! same weight & f95ess z be=e1 b _h kept back "o p] c5t4 ( ! bullion br\ght to ! m9t = its own use4 ,answ] ^! ?ree que/ions 9 ! light ( ?is supposition4 #ac4 ,tabulate ! index numb]s1 ! gre5back price ( ! gold doll>1 & ! gold price ( ! gre5back doll>1 f #ahfa to #ahgi4 #ad4 ,%[ ! diff]5ce betwe5 conv]tible & inconv]tible money4 #ae4 ,contra/ ! position ( ! commodity money !ori/s ) t ( ! fiat money !ori/s4 #af4 ,9 a gold-/&>d c\ntry1 "o-half ( ^: monet>y circulation consi/s ( silv] doll>s 7:i* are unlimit$ legal t5d]7 & ( silv] c]tificates payable on dem& 9 silv] doll>s 7& support$ doll> = doll> by silv] doll>s 9 res]ve71 & ^: m9ts are clos$ to ! free co9age ( silv]1 h[ w\ld ! money value ( ! silv] doll>s & silv] c]tificates be affect$ if ! gold price ( silv] %\ld fall 7#a7 #aj p] c5t48 7#b7 #ej p] c5t8 7#c7 #e p] c5t48 ,h[ w\ld x be affect$ if ! value ( gold %\ld fall #aj p] c5t8 7,free co9age ( gold is assum$74 ,expla9 ! pr9ciples involv$ 9 y\r answ]4 ,,*apt] #f ,,! ,,/&>d ,,( ,,def]r$ ,,paym5ts ,,ref]5ces4 ,fi%]1 ,irv+1 ,appreciation & int]e/4 ,a4 ,e4 ,assn4 ,pubs41 #aa3 #cca-ddb4 #ahif4 ,fi%]1 ,irv+1 ,a rem$y = ! ris+ co/ ( liv+--/&>diz+ ! doll>4 ,a4 ,e4 ,rev41 #c 7no4 #a1 supp473 #bj-bh4 #aiac4 ,r\nd table discussion ( above1 #bi-ea4 ,fi%]1 ,irv+1 ,objections to a comp5sat$ doll> answ]$4 ,a4 ,e4 ,rev41 #d3 #hah-hci4 #aiad4 99,jevons1 *4 ,,xxv4 99,johnson1 *s4 ,,xi1 ,,xii1 ,,xvii4 ,k9ley1 ,david1 ,objections to a monet>y /&>d bas$ on index numb]s4 ,a4 ,e4 ,rev41 #c3 #a-ai4 #aiac4 99,mat]ials1 #ghg1 #ghh 7extract f ,br[n1 ,h4 ,g4171 #ghh1 #ghi 7extract f ,cl>k1 ,w4 ,e41 9 ,h[ to inve/ :5 prices are ris+4 #aiab74 ,noyes1 ,a4 ,d41 ,=ty ye>s ( ,am]ican f9ance4 #aiji4 ,*s4 ,i-,,iii4 ,patt]son1 ,e4 ,m41 ,objections to a comp5sat$ doll>4 ,a4 ,e4 ,rev41 #c3 #hfc-hgd4 #aiac4 99,phillips1 *s4 ,,vi1 ,,vii1 ,,xiii4 ,taussig1 ,f4 ,w41 ,! plan = a comp5sat$ doll>4 ,q4 ,j4 ,e41 #bg3 #dja-daf4 #aiab-aiac4 ,unit$ ,/ates ,bureau ( ,labor ,/ati/ics1 ,bul4 #agc4 #aiae4 ,walk]1 *s4 ,,iii1 ,,vi1 ,,vii4 ,,que/ions4 #a4 ,9 :i* ye> betwe5 #ahij & ! pres5t ye> w\ld a fix$ sal>y ( #a1jjj h gone f>!/8 ,9 :i* ye> w\ld its pur*as+ p[] h be5 lea/8 ,if a sum ( #a1jjj loan$ 9 #ahig 0 return$ 9 #aijb1 :at 0 ! diff]5ce 9 its pur*as+ p[] on its return & :5 x 0 loan$8 #b4 ,w a day's "w ( a common labor] buy m to-day ?an x w\ld a half c5tury ago8 ,:y8 #c4 ,! ,bureau ( ,labor's index numb] = #aiab 0 #acc4 ,:at 0 ! p]c5tage *ange 9 ! value ( money f ! base p]iod to #aiab8 ,give y\r reasons & y\r "w4 #d4 ,av]age prices = ye>s #ahfj-fe4 ,prices = #aijj4 ,c(fee1 lb4 4#ab 4#ah ,coal1 ton #c4jj #c4fj ,sug>1 lb4 4#jh 4#jf ,wool1 lb4 4#cj 4#bj ,:eat1 bu4 4#hj 4#ij ,^u ! basis ( ! prices ( ! above commodities e/imate ! g5]al price level = #aijj1 %[+ ! p]c5tage ( its decl9e or advance f ! basal price level4 ,indicate "s ( ! causes :i* may h br\ght ab\t ?is decl9e or advance4 #e4 ,at a giv5 "t ! foll[+ commodity prices prevail$3 cotton 7raw71 4#aj p] lb42 :eat1 #a4jj p] bu42 sug>1 4#jg p] lb42 potatoes1 #a4jj p] bu42 beef 7= roa/+71 4#be p] lb42 %oes1 #e4jj p] pair2 cotton clo? ( a /&>d grade1 4#ab p] yd42 wool5 clo? ( a /&>d grade1 #a4be p] yd42 m5's hats1 #d4jj1 & coal1 #g4jj p] ton4 ,at a lat] date ! prices ( ! same commodities 7 respectively z foll[s3 4#ac1 #a4je1 4#jf1 #a4aj1 4#cj1 #e4ge1 4#ae1 #a4bj1 #d4ej & #f4ej4 ,tabulate ^! facts & compute index numb]s1 :i* w %[3 7#a7 *anges 9 ! price level ( all t5 commodities4 7#b7 *anges 9 ! price level ( ! articles ( food4 7#c7 *anges 9 ! price level ( ! articles ( clo?+4 #f4 ,9 ! prec$+ ex]cise1 d ! data af=d suffici5t gr\nds = say+ t ! co/ ( liv+ has mov$ ei!r upw>d or d[nw>d8 ,if an affirmative answ] be assum$1 :at has be5 ! *ange 9 ! value ( money8 #g4 ,assign to ea* ( ! commodities li/$ above a weight :i* repres5ts1 9 y\r op9ion1 its importance z an article ( popul> consumption4 ,us+ ?is sy/em ( weights compute index numb]s to %[ *anges 9 ! price levels ( ! same gr\ps ( commodities4 ,h[ does ! weight+ affect y\r fir/ conclusions reg>d+ ! *anges 9 ! co/ ( liv+8 ,:at is ! importance ( a sy/em ( weight+8 #h4 ,if ! _w's annual production ( gold %\ld sudd5ly increase five-fold1 :at w\ld be ! probable effect3 ^u ! welf>e ( a /ock ex*ange speculator z comp>$ ) ! welf>e ( a tea*]2 ^u ! welf>e ( ! cr$itor class z comp>$ ) t ( ! debtor class2 ^u prices8 #i4 ,:at is ! function ( ! /&>d ( def]r$ paym5ts8 ,:at is t /&>d n[ 9 ,am]ica8 ,:at *ange 9 x has lately be5 go+ on8 ,h[ is ?is affect+ ! incomes ( v>i\s classes8 #aj4 ,:at ought to be ! *>act]i/ics ( a /&>d unit ( value8 #aa4 ,c y get a k9d ( money t w make ! ?+s t are sold1 de>]1 & ! ?+s t are b\ght1 *eap]8 #ab4 ,is ! fact ( "o man's ga9 & ano!r man's loss by *ance ( any economic or political importance8 #ac4 ,if e piece ( money %\ld miracul\sly be d\bl$ 9 a night1 ^: int]e/s w\ld be affect$8 #ad4 ,comp>e ! effect ( an increas+ gold output ^u ! price ( out/&+ bonds ) its effect ^u ! price ( common /ock already issu$4 #ae4 ,x is an isolat$ indu/rial c\ntry ) a c]ta9 volume ( money4 ,its gov]nm5t on a giv5 day d\bles ! am\nt ( curr5cy4 ,:at w be ! effect ^u ! rate ( int]e/4 7a7 ( long-"t loans1 7b7 ( %ort-"t loans1 & 7c7 ( dem& loans8 #af4 ,! rate ( int]e/ on long-"t inve/m5ts 9 a c]ta9 isolat$ community has be5 six p] c5t4 ,! am\nt ( money 9 ?is community is increas$ s z to raise ! g5]al level ( prices by #ajj p] c5t4 ,assum+ t ! increase 9 money has come :olly f ! m copi\s output ( money-metal f ! m9es1 to :at ext5t w ?is rise 9 ! g5]al level ( prices affect ! rate ( int]e/ :5 !reaft] capital is loan$ = long-"t p]iods8 #ag4 ,c\ld a railway 9 ! ,unit$ ,/ates advantage\sly float a l>ge issue ( #bj-ye> bonds 9 ! ye> #aiaf8 ,give reasons = y\r answ]4 ,%[ cle>ly :at y mean by advantage\sly4 ,w\ld a railroad wi% to float su* an issue if x c\ld8 ,:y8 #ah4 ,is !re any?+ 9 ! nature ( m9+ t keeps ! ratio ( ! supply ( gold & silv] ne>ly uni=m8 #ai4 ,"s say ,provid5ce has indicat$ gold & silv] z ! mat]ials = money4 ,h[ has ?is be5 done8 #bj4 ,:at are ! ma9 reasons giv5 = ! ratio ( #af to #a8 #ba4 ,does ! pr9ciple ( ! sub/itution ( goods h any be>+ on ! value ( metals "u bimetallism8 #bb4 ,:at is ! !ory ( money held by bimetalli/s8 #bc4 ,inasmu* z gold 7be=e #ahdh7 0 m valuable on ! _w's m>ket ?an at ! ,fr5* m9t1 relatively to silv]1 x 0 impossible t gold %\ld circulate 9 ,france4 ,is ?is a necess>y conclusion8 #bd4 ,:at argum5ts advanc$ 9 favor ( bimetallism 9 #ahif are inapplicable to-day8 #be4 ,:at is ! ext5t ( ! influ5ce "o nation c h on ! ratio ( ! two preci\s metals8 #bf4 ,h[ w\ld ! adoption ( int]national bimetallism to-day at ! ratio ( #cb to #a affect 7a7 ! circulat+ m$ium1 7b7 ! /&>d ( value 9 diff]5t c\ntries8 ,consid] bo? ! imm$iate & ! ev5tual results4 #bg4 ,:at w\ld h happ5$ if a free silv] law _h be5 enact$ 9 ! ,unit$ ,/ates 9 #aijj8 #bh4 ,w\ld an ideal monet>y /&>d always measure ! same quantity ( goods8 #bi4 ,a owes ,b a long t]m debt1 :i* falls due j be=e ! comm5cem5t ( a comm]cial crisis2 w\ld x be to ! advantage or disadvantage ( ,a if ! contract call$ = paym5t 9 t]ms ( a tabul> /&>d8 #cj4 ,:y has n ! tabul> /&>d ( def]r$ paym5ts come into common use8 ,is ! tabul> /&>d s\nd or uns\nd 9 pr9ciple8 ,w\ld y\r answ] apply to ! labor /&>d8 ,,*apt] #g ,,! ,,functions ,,( ,,banks ,,ref]5ces4 ,clevel&1 ,f4 ,a41 ,funds & _! uses4 #aijb4 ,conant1 ,c4 ,a41 ,hi/ory ( mod]n banks ( issue4 #e? ed41 #aiae4 ,dunb>1 ,c4 ,f41 ,!ory & hi/ory ( bank+4 #b;d ed41 #aija4 ,fisk1 ,a4 ,k41 ,! mod]n bank4 #aijc4 ,holdswor?1 ,j4 ,t41 ,money & bank+4 #aiad4 ,k9ley1 ,david1 ,! specie res]ve 9 a bank+ sy/em4 ,j4 ,p4 ,e41 #bj3 #ab-bd4 #aiab4 99,phillips1 *s4 ,,ix1 ,x4 ,scott1 ,w4 ,a41 ,money & bank+4 #aijc4 ,vebl51 ,t41 ,!ory ( bus9ess ent]prise4 #aijd4 99,:ite1 bk4 ,,iii1 *s4 ,i-,,iii4 ,,que/ions4 #a4 ,:at does a bank d = a community8 #b4 ,:at are ! functions p]=m$ by a bank8 #c4 ,:at are ! s\rces ( income to a bank8 #d4 ,expla9 ! mo/ important ways 9 :i* ! deposits ( comm]cial banks orig9ate2 & /ate :i* ( ^! ways creates ! greate/ am\nt ( dem& liabilities ( ! banks4 #e4 ,d all banks issue notes8 ,:y8 #f4 ,:at is ! advantage to a bank ( ! "r to issue bank notes8 #g4 ,h[ does ! issue ( bank notes diff] f ! l5d+ ( funds to depositors8 #h4 ,c a bank t issues its own notes af=d to l5d *eap] ?an ! ord9>y capitali/8 #i4 ,two m5 ,a & ,b h notes ea* = #ajjj disc\nt$ at ! same bank4 ,a is cr$it$ on ! bank's books ) ! "r to draw #iej4 ,b receives #iej 9 ! circulat+ notes issu$ by ?is bank4 ,are ! bank's liabilities increas$ to precisely ! same ext5t by ! two transactions8 ,does ei!r transaction imm$iately less5 ! bank's ca% res]ve8 #aj4 ,! foll[+ are ! items ( a report ( a ,national ,bank3 ,capital /ock1 #ej1jjj2 ,ca% on h& & 9 banks1 #gg1jff4ba2 ,circulation1 #di1djj2 ,bills payable1 #aj1jjj2 ,unit$ ,/ates & o!r bonds1 #bci1jej2 ,deposits1 #dfe1dag4da2 ,surplus & net undivid$ pr(its1 #cj1ieb4eh2 ,loans & inve/m5ts1 #bhi1fec4gh4 7a7 ,sep>ate & arrange ^! items 9 accordance ) a regul> bank /atem5t & prove y\r answ]4 7b7 ,%[ h[ ^! items illu/rate ! ess5tial functions ( a bank1 expla9+ 9 detail ! nature ( ^! functions4 #aa4 ,sort out f ! foll[+ items ! res\rces & liabilities & %[ ! equality ( total res\rces & total liabilities3 ,unpaid divid5ds #ghb4jj ,res]v$ = paym5t ( taxes due #aj1jjj4jj ,undivid$ pr(its #he1bbh4eg ,capital /ock #ejj1jjj4jj ,surplus fund #bej1jjj4jj ,ca% items 7*ecks to be pres5t$ = settlem5t 9 next day's ex*anges7 #bhj1cdg4dc ,loans & disc\nts #b1ghb1gac4ae ,u4 ,s4 legal t5d] notes & notes ( national banks #dce1bif4jj ,specie #bgh1cjd4dh ,deposits #d1jeg1icd4fa ,ov]drafts 7*ecks paid 9 excess ( deposits7 #b1hdb4aj ,due f banks & bank]s #cgj1adb4jb ,real e/ate #dc1ijj4jj ,mortgage own$ #a1jjj4jj ,bonds #gji1djj4jj #ab4 ,classify ! foll[+ items z res\rces or liabilities ( a national bank & give reasons = y\r classification ( ! #a/1 #d?1 #f?1 & #g?3 7#a7 ,capital /ock1 #ej1jjj2 7#b7 ,real e/ate1 furniture1 fixtures1 etc41 #ae1jdf4ad2 7#c7 ,ca%1 #fi1cdc4cd2 7#d7 ,surplus & net undivid$ pr(its1 #ai1beg4dc2 7#e7 ,unit$ ,/ates bonds1 #ajh1iea4ej2 7#f7 ,loans & disc\nts1 #bdb1edf4cf2 7#g7 ,deposits1 #cja1fgi4ia2 7#h7 ,circulation 7i4e41 notes out/&+71 #fd1iej4 ,prove t y\r classification is correct by balanc+ ! acc\nt4 ,!n %[ ! *anges made 9 ! acc\nt by ! foll[+ transaction3 ,! bank loans #be1jjj4jj = #ij days at #f p] c5t4 int]e/1 & ! borr[] draws out "o-half ! am\nt1 ) :i* he is cr$it$ aft] ! bank has made ! prop] d$uction = int]e/4 #ac4 ,! week's av]ages ( ! ,new ,york banks = ! ?ird week 9 ,may comp>e z foll[s 9 #aije & #aijd3 #aije4 #aijd4 ,loans #a1abj1dbf1hjj #a1jef1eec1ejj ,deposits #a1afe1aea1gjj #a1ajj1ehf1ajj ,circulation #de1cjh1cjj #cf1dhj1djj ,specie #bae1agd1bjj #baj1jjb1hjj ,legal t5d]s #hd1ccc1gjj #gh1adc1jjj ,expla9 :y loans & deposits 9 ! above table %[ practically ! same increase f #aijd to #aije4 #ad4 ,h[ w\ld ! balance %eet ( a comm]cial bank issu+ an ord9>y asset bank-note curr5cy /& aft] ! foll[+ op]ations8 ,! bank op5s bus9ess ) a paid-up capital ( #b1jjj1jjj & a surplus ( #djj1jjj4 ,x sp5ds #ej1jjj 9 its own bank notes = furniture & fixtures4 ,x disc\nts at six p] c5t4 = v>i\s cu/om]s #d1jjj1jjj ( #fj-;day notes & bills receivable1 ! borr[]s tak+ "o-f\r? ( ! proce$s 9 ca%1 "o-f\r? 9 ! bank's own bank notes1 & leav+ ! balance on deposit4 ,cu/om]s ca% *ecks on _! acc\nts = #fjj1jjj receiv+ two-?irds ( ! am\nt 9 ! bank's own bank notes & ! o!r ?ird 9 co9 & o!r k9ds ( lawful money4 ,o!r cu/om]s make deposits ( #ijj1jjj1 ( :i* "o-?ird is 9 lawful money1 "o-?ird 9 ! bank's own bank notes1 & "o-?ird 9 ! *ecks ( o!r depositors 9 ! same bank4 ,! bank buys at p> #a1bjj1jjj ( railroad bonds1 pay+ = !m 9 its own bank notes4 ,x pays ) its own bank notes exp5ses = wages1 /ation]y & taxes to ! am\nt ( #aj1jjj4 7b7 ,:at p]c5tage ( res]ve is x c>ry+ at ! end ( ^! op]ations8 #ae4 ,/atem5t ( a national bank4 ,,liabilities ,,res\rces ,?\s& ,?\s& ,capital1 #dfd4 ,loans & disc\nts1 #gjh4 ,surplus1 #bjc4 ,ov]-drafts1 4#a ,undivid$ pr(its1 #ec4 ,bonds to secure circulation ,circulation1 #djd4 7p> value7 #dej4 ,deposits1 #dai4 ,o!r /ocks & bonds1 #afc4 ,due banks1 #bi4 ,due f res]ve ag5ts1 #aje4 ,due f banks1 #ba4 ,bank+ h\se1 #cb4 ,curr5t exp5ses & taxes1 #c4 ,*ecks & ca% items1 #d4 ,ex*ange = ,cle>4 ,h\se1 #aa4 ,notes ( o!r banks1 #ae4 ,gold1 #cj4 ,silv]1 4#i ,legal t5d]s1 #i4 ,r$emption fund 9 ,u4 ,s4 ,t4 #bj4 ------- ------- #a1egb4 #a1egb4 ,:at c y le>n f ?is /atem5t ab\t ! k9d ( bus9ess :i* ! bank is c>ry+ on1 & its p[] to )/& a f9ancial /orm8 #af4 ,h[ w\ld ! balance %eet ( a comm]cial bank /& aft] ! foll[+ op]ations8 ,! bank beg9s bus9ess ) a paid-up capital ( #cjj1jjj & a surplus ( #fj1jjj4 ,x disc\nts = cu/om]s #fjj1jjj ( f\r-mon?s notes & bills receivable1 at #f p] c5t41 ! borr[]s tak+ "o ?ird ( ! proce$s 9 ca% 7i4e41 lawful money71 & leav+ two-?irds on deposit4 ,cu/om]s deposit #bjj1jjj1 ( :i* "o-half is 9 ca%1 "o-qu>t] is 9 *ecks drawn on ?is bank1 & "o-qu>t] is 9 *ecks drawn on o!r banks4 #ag4 ,suppose t ?is bank n[ reorganizes z a national bank &1 to secure ! privilege ( note issue1 buys ,unit$ ,/ates #b p] c5t4 bonds ( a p> value ( #ij1jjj at #ajb4 ,^! bonds x deposits ) ! ,treasur] ( ! ,unit$ ,/ates & receives ! full am\nt ( national bank notes to :i* x is entitl$4 ,depositors )draw by *eck #ahj1jjj1 ! bank giv+ !m #de1jjj 9 its notes & ! balance 9 lawful money4 ,a divid5d ( #b p] c5t4 is decl>$1 & is paid1 "o-half 9 lawful money & "o-half 9 ! =m ( deposits4 ,pres5t ! balance %eet4 ,,*apt] #h ,,bank+ ,,9 ,,! ,,unit$ ,,/ates ,,be=e #aiad ,,ref]5ces4 ,holl&]1 ,j4 ,h41 ,security hold+s ( national banks4 ,a4 ,e4 ,rev41 #c3 #gic-had4 #aiac4 ,kemm]]1 ,e4 ,w41 ,bank+ re=m 9 ! ,unit$ ,/ates4 ,a4 ,e4 ,rev41 #c 7no4 #a1 supp473 #eb-fc4 #aiac4 ,r\nd table discussion ( above1 #fd-hh4 ,kemm]]1 ,e4 ,w41 ,seasonal v>iations 9 ! ,new ,york money m>ket4 ,a4 ,e4 ,rev41 #a3 #cc-di4 #aiaa4 ,national ,monet>y ,commission1 ,report4 #aiab4 ,9 ,s54 ,doc4 #bdc1 #fb;d ,cong41 #b;d ,sess4 ,phillips1 *4 ,,xxx4 99,s\rce ,book1 #cbd-ccf 7extract f ,national ,monet>y ,commission ,report71 #cad-cbc 7extract f #aiaj report ( ! ,comptroll] ( ! ,curr5cy74 ,sprague1 ,o4 ,m4 ,w41 ,proposals = /r5g!n+ ! national bank+ sy/em4 ,q4 ,j4 ,e41 #bd3 #bja-bdb1 #fcd-fei2 #be3 #fg-ie4 #aiji-aiaa4 ,unit$ ,/ates ,comptroll] ( ! ,curr5cy1 ,annual reports4 99,:ite1 bk4 ,,iii1 *s4 ,,iv1 ,,xv1 ,,xvii1 ,,xx1 ,,xxi1 & app5dices ,a & ,b4 ,willis1 ,h4 ,p41 ,! bank+ "q 9 ,congress4 ,j4 ,p4 ,e41 #bj3 #hfi-hhe4 #aiab4 ,,que/ions4 #a4 ,expla9 ! me?od foll[$ by national banks 9 issu+ bank notes4 ,:y did ! banks (t5 f9d x m pr(itable to use _! money 9 o!r ways ?an by issu+ bank notes8 ,ref43 ,discussion 9 v>i\s reports ( ,comptroll] ( ! ,curr5cy4 #b4 ,section #bh ( ! ,national ,bank ,act ( ,june #c1 #ahfd1 aft] provid+ t a national bank+ association may hold real e/ate necess>y = its imm$iate accommodation 9 ! transaction ( its bus9ess & su* o!r real e/ate & mortgages !reupon z x may h tak5 to secure debts previ\sly contract$1 provides t ,su* associations 7national banks7 %all n pur*ase or hold real e/ate 9 any o!r case or = any o!r purpose4444 7a7 ,:at is ! reason = ! above provision8 7b7 ,w\ld x be wise to make a simil> prohibition on sav+s banks8 #c4 ,describe ! cle>+ h\se & def9e its economic advantages4 #d4 ,if !re are tw5ty banks 9 a t[n & no cle>+ h\se1 h[ _m collections w\ld h to be made by all ! banks daily assum+ t ea* day depositors ( ea* bank receive *ecks on ! o!r n9ete5 banks8 #e4 ,does a cle>+ h\se enable ! banks t belong to x to get along ) a small] ca% res]ve8 ,,*apt] #i ,,! ,,f$]al ,,res]ve ,,act ,,ref]5ces4 ,conway1 ,?omas1 ,jr41 ,! f9ancial policy ( ! ,f$]al res]ve banks4 ,j4 ,p4 ,e41 #bb3 #cai-cca4 #aiad4 ,f$]al ,res]ve ,bo>d1 ,! ,f$]al ,res]ve ,bullet94 ,mon?ly4 99,phillips1 *4 ,,xxxi4 ,scott1 ,w4 ,a41 ,bank+ res]ves "u ! ,f$]al ,res]ve ,act4 ,j4 ,p4 ,e41 #bb3 #ccb-cdd4 #aiad4 ,:ite1 bk4 ,,iii1 *4 ,,xxii & app5dices ,d & ,e4 ,willis1 ,h4 ,p41 ,! ,f$]al ,res]ve ,act4 ,a4 ,e4 ,rev41 #d3 #a-bd4 #aiad4 ,,que/ions4 #a4 ,"n & contra/ ! diff]5t k9ds ( banks 9 ! ,unit$ ,/ates4 #b4 ,h[ are notes issu$ "u ! ,f$]al ,res]ve ,act8 #c4 ,if on a giv5 date ! surplus res]ve 7i4e41 ! res]ve 9 excess ( ! legal m9imum res]ve requir$ by law to be held aga9/ deposits7 ( ! ,new ,york ,associat$ ,banks am\nts to #aa1jjj1jjj1 & ! deposits on ! same date am\nt to #a1afd1jjj1jjj1 :at is ! total ca% res]ve held by ! banks on said date8 ,:at w\ld x h be5 9 #aiab8 #d4 ,! ,new ,york ,times ( ,decemb] #h1 #aiaf1 said3 ,! r$isc\nt+ ( comm]cial pap] at ! ,f$]al ,res]ve ,bank ( ,new ,york by "s ( ! city's l>ge/ banks on ,w$nesday _h ! effect ye/]day ( improv+ g5]al money m>ket conditions4 ,call loans :i* 7 made at #ae p] c5t4 on ,monday1 & z high z #aj p] c5t4 on ,tuesday1 & t\*$ sev5 p] c5t4 ,w$nesday1 7 plac$ ye/]day at f ?ree to five p] c5t4 ,mo/ ( ! loans 7 made at f\r & "o-half p] c5t41 ! r5ewal rate1 & ! clos+ quotation 0 ?ree p] c5t4 ,"t money rates 7 easi]4 ,expla9 ! process ( r$isc\nt+ "h ref]r$ to4 ,9 j :at way did ! r$isc\nt+ op]ations relieve ! call money m>ket8 ,d y consid] t ?is use ( ! r$isc\nt+ facilities provid$ by ! ,f$]al ,res]ve ,sy/em 0 9 accord ) s\nd bank+ pr9ciples8 ,0 x ! be/ possible use ( ! r$isc\nt+ me*anism8 ,= sugge/ions see ! ,new ,york ,times ( ,decemb] #e1 #aiaf1 "u ! head+ ,f9ancial ,m>kets4 ,,*apt] #aj ,,crises ,,& ,,indu/rial ,,depressions ,,ref]5ces4 ,dewey1 ,d4 ,r41 ,f9ancial hi/ory ( ! ,unit$ ,/ates1 #d? ed41 #aiab4 ,*4 ,x4 ,engl&1 ,m9nie ,t41 ,promotion z ! cause ( crises4 ,q4 ,j4 ,e41 #bi3 #gdh-gfg4 #aiad-aiae4 99,hamilton1 ,read+s1 #ia-ic1 #ic-ie1 #ie-ih4 ,hobson1 ,j4 ,a41 ,evolution ( mod]n capitalism4 ,ed41 #aiab4 ,*4 #g4 ,jones1 ,e4 ,d41 ,economic crises4 #aijj4 ,jugl>1 ,c41 & ,?om1 ,c4 ,w41 ,a brief hi/ory ( panics & _! p]iodical recurr5ce 9 ! ,unit$ ,/ates4 ,ed41 #aiaf4 99,mat]ials1 #cia-cif4 ,mit*ell1 ,w4 ,c41 ,bus9ess cycles4 #aiac4 ,moore1 ,h4 ,l41 ,economic cycles3 _! law & cause4 #aiad4 ,nelson1 ,s4 ,a41 ,! ,a ,b ,c ( ,wall ,/reet4 #aijj4 ,patt]son1 ,e4 ,m41 ,! !ories advanc$ 9 explanation ( economic crises4 ,a4 ,a4 ,a41 #ei3 #acc-adg4 #aiae4 99,phillips1 *s4 ,,xxviii1 ,,xxix4 99,s\rce ,book1 #ach-aef4 ,sprague1 ,o4 ,m4 ,w41 ,! crisis ( #aiad 9 ! ,unit$ ,/ates4 ,a4 ,e4 ,rev41 #e3 #dii-ecc4 #aiae4 ,unit$ ,/ates ,bureau ( ,labor1 ,annual report = #ahhf4 ,,que/ions4 #a4 ,:at is a f9ancial crisis8 ,an indu/rial depression8 #b4 ,describe ! trade1 bank+ & price conditions :i* obta9 j prec$+1 dur+ & imm$iately foll[+ a crisis4 #c4 ,/ate cle>ly & expla9 ! movem5t ( prices ( /ocks1 bonds1 mortgages1 l&1 commodities g5]ally1 wages & int]e/ rates on long "t & %ort "t loans1 be=e1 dur+1 & aft] a crisis4 #d4 ,tabulate = a s]ies ( ye>s cov]+ p]iods ( prosp]ity & depression1 ! prices ( /ocks1 bonds1 real e/ate1 & ( "s commodities4 #e4 ,:at economic *anges occurr$ 9 y\r own community 9 ! panic ( #ahic-id1 or 9 ! ye>s #aijc-jd1 or 9 #aijg-jh8 #f4 ,is x possible t ! am\nt ( all goods produc$ %all be 9 excess ( ! community's p[] ( consumption8 #g4 ,z ! av]age ,am]ican c produce f> m ?an he c consume1 x has be5 prov$ repeat$ly t z long z ! sale ( 8 products is conf9$ to ! home m>kets1 ov]-production is c]ta9 to be a natural consequ5ce ( e prolong$ p]iod ( activity4 ,= half a c5tury1 !re=e1 ) regul>ly recurr+ seasons ( surplus production1 !re came ^? inevitable comm]cial crises :i* emphasiz$ ) increas+ =ce ! necessity = =eign m>kets4 7,?is passage is tak5 f a repr9t ( a spee* ( a congressman47 ,criticize ! view z to ! cause ( comm]cial crises express$ 9 ! above /atem5t4 #h4 ,is a crisis caus$ by too mu* or too little money1 or by "s o!r influ5ce8 #i4 ,if !re 7 twice z mu* money 9 ! _w1 w\ld panics take place8 #aj4 ,9 a p]iod ( depression is !re less money ?an usual 9 ! c\ntry8 ,9 ! banks8 #aa4 ,9 :at ways & to :at ext5t are trade conditions apt to be affect$ by3 ,! increas+ gold supply8 ,! tru/ movem5t8 ,increas+ armies & navies8 ,! agricultural situation8 #ab4 ,expla9 ! diff]5ce 9 ! motive ( ! borr[] at ord9>y times & 9 times ( panic4 #ac4 ,h[ are loans affect$ :5 ! res]ve limit z e/abli%$ ei!r by law or cu/om is rea*$ 9 ,engl&1 ,g]many & ! ,unit$ ,/ates8 #ad4 ,:at 9 y\r op9ion is ! correct explanation ( crises8 #ae4 ,9 :at ways is bus9ess affect$ by ! condition ( ! crops8 ,)9 :at limitations8 ,9 ! case ( :i* crops is ! connection close/8 #af4 ,:at elem5t ( security is furni%$ by cle>+ h\ses dur+ panics8 #ag4 ,describe ! me?od us$ by ! banks 9 meet+ dem&s ( depositors dur+ ! panics ( #ahic & ( #aijg4 7,dunb> is especially valuable4 ,also ,o4 ,m4 ,w4 ,sprague1 ,hi/ory ( crises "u ! ,national ,bank+ ,sy/em1 pub4 by ,nat4 ,monet>y ,com47 ,,*apt] #aa ,,in/itutions ,,= ,,sav+ ,,& ,,inve/m5t ,,ref]5ces4 ,*amb]la91 ,laur5ce1 ,pr9ciples ( bond inve/m5t4 #d? ed41 #aiac4 ,! "w ( ! bond h\se4 #aiac4 ,dev9e1 ,h4 ,c41 ,p's cop]ative banks = work]s 9 t[ns1 & small hold]s1 allotm5t cultivators1 & o!rs 9 c\ntry di/ricts4 #aijh4 ,dext]1 ,seym\r1 ,a treatise on cop]ative sav+s & loan associations4 ,ed41 #ahid4 ,fi%]1 ,irv+1 ,kemm]]1 ,e4 ,w41 ,br[n1 ,h4 ,g41 & o!rs1 ,h[ to inve/ :5 prices are ris+4 #aiab4 ,gu5!r1 ,l\is1 ,inve/m5t & speculation4 #aiaf4 7,la ,salle ,uni47 ,hamilton1 ,j4 ,h41 ,sav+s & sav+s in/itutions4 #aijb4 ,johnson1 ,a4 ,s41 ,influ5ces affect+ ! developm5t ( ?rift4 ,p4 ,s4 ,q41 #bb3 #bbd-bdd4 #aijg4 ,kemm]]1 ,e4 ,w41 ,! ,unit$ ,/ates ,po/al ,sav+s bank4 ,p4 ,s4 ,q41 #bf3 #dfb-dii4 #aiaa4 ,kniff91 ,w4 ,h41 ,! sav+s bank & its practical "w4 #aiab4 99,phillips1 *4 ,,xvi4 ,wolff1 ,h4 ,w41 ,a cop]ative bank h&book4 #aiji4 ,cop]ative bank+4 #aijg4 ,p's banks4 #c;d ed41 #aiaj4 ,,que/ions4 #a4 ,:at are ! nature & purpose ( legislation re/rict+ ! inve/m5ts ( sav+s banks8 #b4 ,:at are ^! re/rictions 9 ?is /ate8 ,9 y\r own /ate8 ,9 ^? /ates :i* are reg>d$ z hav+ ! mo/ highly develop$ laws 9 ?is field8 #c4 ,is legislation 9 ?is field to be consid]$ z subsidiz+ c]ta9 types ( private ent]prise8 ,if s1 is x socially ju/ifiable8 ,,*apt] #ab ,,pr9ciples ,,( ,,insurance ,,ref]5ces4 ,geph>t1 ,w4 ,f41 ,pr9ciples ( insurance4 #aiac4 ,geph>t1 ,w4 ,f41 ,insurance & ! /ate4 #aiac4 ,huebn]1 ,s4 ,s41 ,life insurance4 #aiae4 ,huebn]1 ,s4 ,s41 ,prop]ty insurance4 #aiac4 ,/ati/ical ,ab/ract ( ! ,unit$ ,/ates4 ,valgr51 ,v4 ,n41 ,f>m]s' mutual fire insurance 9 ,m9nesota4 ,q4 ,j4 ,e41 #be3 #chg-cif4 #aiaj-aiaa4 ,willet1 ,a4 ,h41 ,economic !ory ( risk & insurance4 #aija4 ,z>tman1 ,l4 ,w4 7,ed471 ,fire insurance4 ,ed41 #aiae4 ,z>tman1 ,l4 ,w4 7,ed471 ,life insurance4 ,ed41 #aiae4 ,,que/ions4 #a4 ,:at are ! conditions ( economically s\nd insurance8 ,give at lea/ two examples4 #b4 ,:at is ! ess5tial economic diff]5ce betwe5 gambl+ & insurance8 #c4 ,give examples %[+ ! diff]5ce betwe5 a gambl+ h\se & an insurance company8 #d4 ,inve/ors 9 ,russian bonds are said to take out policies ( insurance payable to !mselves 9 ! ev5t ( ! ,cz>'s dea?1 _! object be+ to gu>d !mselves aga9/ loss by ! depreciation ( _! ,russian securities 9 case ( political di/urbances t might em]ge ^u a *ange ( rul]s4 7a7 ,d y reg>d su* insurance z gambl+ or legitimate speculation f ! /&po9t ( ei!r insur] or insur$8 7b7 ,d y reg>d ! issue ( su* policies on ! "p ( ! insurance companies z s\nd8 #e4 ,ought lott]ies to be p]mitt$ by law8 #f4 ,suppose #a1jjj own]s ( #a1jjj build+s wor? #g1jjj ea* wi% to insure !mselves aga9/ fire4 ,if ! risk = ! class ( build+s involv$ 9 su* t sev5 out ( #a1jjj burn ea* ye>1 :at annual paym5t f ea* own] w\ld be necess>y to insure all aga9/ total loss--exp5ses ( managem5t1 int]e/1 etc41 be+ ignor$8 7,f4 ,m4 ,taylor47 #g4 ,suppose t a corporation owns #ejj build+s wor? #ajj1jjj ea*2 t to insure aga9/ fire 9 an ord9>y company w\ld co/ #bej = ea* build+2 & t ! corporation is conv9c$ t by ! exp5diture ( #aj1jjj ! fire loss c be r$uc$ to an av]age ( "o build+ e ?ree ye>s4 ,w\ld x pay ! corporation to insure ) "s company8 7,f4 ,m4 ,taylor47 ,,*apt] #ac ,,int]national ,,trade ,,ref]5ces4 ,ba/able1 ,c4 ,e41 ,! !ory ( int]national trade4 #ahig4 ,br[n1 ,h4 ,g41 ,int]national trade & ex*ange4 #aiad4 ,cl>e1 ,g41 ,! ,a ,b ,c ( ! =eign ex*anges4 #ahie4 ,es*]1 ,frankl91 ,! elem5ts ( =eign ex*ange4 #b;d ed41 #aiaa4 ,gos*51 ,visc\nt1 ,! !ory ( ! =eign ex*anges4 #ahih4 ,johnson1 ,e4 ,r41 ,probable *anges 9 ! =eign trade ( ! ,unit$ ,/ates result+ f ! ,european w>4 ,a4 ,e4 ,rev41 #f 7no4 #a1 supp473 #ag-be4 #aiaf4 ,r\nd table discussion ( above1 #bf-di4 ,johnson1 ,e4 ,r41 ,van ,metre1 ,t4 ,w41 ,huebn]1 ,g4 ,g41 & ,han*ett1 ,d4 ,s41 ,hi/ory ( dome/ic & =eign comm]ce ( ! ,unit$ ,/ates4 #aiae4 99,s\rce ,book1 #ccg-cdf4 ,willis1 ,h4 ,p41 ,transportation & competition 9 ,s\? ,am]ican m>kets4 ,a4 ,e4 ,rev41 #b3 #had-hcc4 #aiab4 ,,que/ions4 #a4 ,is x bad policy to let ! p ( a suburban village sp5d money 9 ! city = ?+s t c\ld be produc$ at home8 #b4 ,is x bad policy = ,cali=nia to buy ,new ,engl& manufactures8 #c4 ,give examples ( ! indu/rial advantages ( ,am]ica z comp>$ ) ,europe4 #d4 ,is ! alleg$ sup]ior effici5cy ( ! ,am]ican workman ov] ! compet+ workman ( ,europe connect$ 9 any way ) ! pr9ciple ( proportionality8 #e4 ,community ,a has l&s t c produce :eat at a co/ ( #fj c5ts p] bu%el1 corn at #dj c5ts p] bu%el & potatoes at #dj c5ts p] bu%el4 ,community ,b c produce :eat at #gj c5ts p] bu%el1 corn at #de c5ts p] bu%el & potatoes at #db c5ts p] bu%el4 ,suppos+ t ea* community c raise j en\gh ( ^! food/uffs = its own use1 w !re be any inc5tive = !m to ex*ange ^! products8 #f4 ,a man is ( all sorts ( luggage ! mo/ difficult to be transport$4 ,:at is ! be>+ ( ?is fact ^u ! !ory ( int]national trade8 #g4 ,c a c\ntry h a p]si/+ excess ( m]*&ise exports ov] m]*&ise imports8 ,if s1 "u :at conditions8 #h4 ,if =eign ex*ange sudd5ly rose sev]al c5ts1 :ile imports & exports rema9$ ! same1 to :at causes might x be due8 #i4 ,if z ! result ( a ye>'s =eign trade nation ,a obta9s f o!r nations #aj1jjj1jjj 9 gold co9 9 settlem5t ( ! balance ( int]national indebt$ness1 to :at ext5t does t sum measure ! ga9 ( nation ,a f int]national trade8 ,reasons4 #aj4 ,! /ati/ics ( exports & imports ( ! ,unit$ ,/ates = ! ye> #aijh-aiji %[ an excess ( exports ov] imports ( #cea1jjj1jjj 9 m]*&ise2 #ab1jjj1jjj 9 silv] & #dh1jjj1jjj 9 gold4 ,expla9 cle>ly h[ ! ,unit$ ,/ates c\ld h _h an excess ( exports ( m]*&ise1 silv] & gold 9 ! same ye>4 #aa4 ,if dem& ex*ange on ,london 7 sell+ at #d4hce 9 ,new ,york1 w\ld t indicate any?+ z to ! relative values ( our imports & exports8 ,w\ld gold be %ipp$ "u ^! conditions & if s 9 :i* direction8 ,expla94 #ab4 ,expla9 cle>ly ! condition ( comm]ce "u :i* dem& /]l+ bills ( ex*ange w sell at #d4hge 9 ! ,new ,york ex*ange m>ket4 #ac4 ,if ! m]*&ise imports f ,engl& to ! ,unit$ ,/ates equall$ ! exports f ! ,unit$ ,/ates to ,engl&1 :at w\ld be ! /ate ( ex*ange on ,london8 ,w\ld !re be any great] advantage to ei!r ( ! c\ntries engag$ 9 trade8 #ad4 ,:at effect on ex*ange has ! hold+ ( ,am]ican bonds abroad8 #ae4 ,if l>ge %ipm5ts ( :eat are made to ,engl&1 w bills ( ex*ange on ,london be high] or l[] 9 ,new ,york8 #af4 ,:5 9 ,new ,york a sight draft on ,london = #ejjj sells = #bd1aej1 9 :i* direction are gold remittances likely to be mov+8 ,give reasons4 #ag4 ,if ,engl& sells #aj1jjj1jjj wor? ( our securities to ,am]icans1 :at is ! effect on ex*ange rates8 #ah4 ,%[ :at1 9 a gold-produc+ c\ntry1 w\ld be ! relations & int]action ( new gold supply1 prices1 relative am\nts ( imports & exports1 & rate ( ex*ange4 7,sumn]47 #ai4 ,a nation ) n doll>s 9 circulation has to pay a w> indemnity ( n doll>s to ano!r c\ntry hav+ ! same circulation4 ,h[ mu* money w ea* !n h1 & :at w be ! effect on prices1 =eign trade1 rate ( ex*ange8 7,dav5port47 #bj4 ,suppose an increase 9 ! volume ( our curr5cy1 due to a new issue ( silv]1 :at w\ld be ! effect ^u int]national trade8 ,w\ld ?is effect be la/+8 ,w\ld y\r answ] dep5d at all ^u ! condition ( our curr5cy at ! "t ! increase occurr$8 #ba4 ,if ?r\gh ! improvem5t ( our bank+ & curr5cy sy/em a mu* l>g] p]c5tage ( ! bus9ess ( ! c\ntry comes to be done ?r\gh ! use ( cr$its 7r ?an money7 z ! m$ium ( ex*ange1 :at w be ! effect on 7a7 ! quantity ( money 9 circulation1 7b7 ! g5]al level ( prices1 7c7 ! composition ( ! c\ntry's m$ia ( ex*ange1 7d7 ! int]national movem5t ( gold1 7e7 ! int]e/s ( debtors & cr$itors1 respectively8 #bb4 ,ea* "o ( two c\ntries1 ,a & ,b1 c1 by ! application ( a giv5 am\nt ( labor to its mat]ial res\rces1 produce any "o or all ( ! commodities ,m1 ,n1 ,o1 ,p1 ,q1 ,r & ,s1 z exhibit$ 9 ! foll[+ table3 ,commodity4 ,c\ntry ,a4 ,c\ntry ,b4 ,m #ej tons #fj tons ,n #ajjj y>ds #aajj y>ds ,o 4#be bales #bj bales ,p #ijj bu%els #hjj bu%els ,q #fjj ounces #fej ounces ,r #ejjj gallons #ejjj gallons ,s #bejj p\nds #bjjj p\nds 7a7 ,9 ! abs5ce ( re/rictive legislation is ea* c\ntry likely to produce all ( ^! commodities = itself8 ,:y or :y n8 7b7 ,if conditions are su* z to lead to ! t]ritorial division ( labor1 :i* commodities are mo/ likely to be produc$ 9 ea* c\ntry8 7c7 ,ab\t :i* ( ^! commodities is !re ! lea/ c]ta9ty on ?is po9t8 ,:y8 ,,*apt] #ad ,,! ,,policy ,,( ,a ,,protective ,,t>iff ,,ref]5ces4 ,bol51 ,g4 ,l41 ,pla9 facts z to ! tru/s & ! t>iff4 #aijb4 ,pt4 ,,ii4 ,daniels1 ,w4 ,m41 ,! elem5ts ( public f9ance4 ,ed41 #aiaa4 ,pt4 ,,ii1 *4 ,,vii4 ,johnson1 ,e4 ,h41 ,! effect ( a t>iff on production4 ,q4 ,j4 ,e41 #ah3 #ace-acg4 #aijc-aijd4 ,patt51 ,s4 ,n41 ,! economic basis ( protection4 #ahij4 99,s\rce ,book1 #cdg-ceg1 #ceh-cfj4 ,wallace1 ,h4 ,b41 ,a balanc$ t>iff4 ,a4 ,e4 ,rev41 #b3 #efh-ege4 #aiab4 ,,que/ions4 #a4 ,c x be ( advantage to trade freely ) "o nation if g5]al free trade is bad8 #b4 ,if !re 7 no legal b> to a t>iff betwe5 ! /ates1 w\ld a t>iff probably be impos$8 ,if s1 w\ld x be a wise measure8 #c4 ,discuss ! cont5tion t a protective t>iff by help+ to keep out imports ( =eign goods t5ds to ma9ta9 a favorable balance ( trade4 #d4 ,! t]ritorial di/ribution ( money is bo? a det]m9$ & a det]m9+ factor 9 int]national trade4 ,expla9 ! mean+ ( ?is /atem5t & %[ its relation to ! favorable balance ( trade argum5t = protection4 #e4 ,an ,engli%man gave ?is argum5t = protection3 ,if an ,engli%man buys a fry+ pan f a ,g]man = a %ill+ 7#bd c5ts71 !n ,engl& gets ! fry+ pan & ,g]many gets ! %ill+1 :]eas if an ,engli%man buys ! fry+ pan f an ,engli% manufactur] = #ac p5ce 7#bf c5ts71 ,engl& gets bo? ! fry+ pan & ! #ac p5ce4 ,! increase 9 price b5efits ,engl& because ! money rema9s )9 ! c\ntry1 in/ead ( go+ abroad to increase ! weal? ( =eign nations4 ,give y\r op9ion ( ?is argum5t4 #f4 ,discuss ?is /atem5t3 ,! ,am]ican p s5d abroad ov] #ajj1jjj1jjj a ye> to pay = import$ sug>4 ,to meet ?is bill requires ! :eat crop ( ov] #g1ajj1jjj acres4 ,b all ! sug> n[ import$ c\ld be gr[n on #a1gjj1jjj acres 9 beets or cane4 ,9 o!r words we are ?r[+ away ! product ( approximately #e1djj1jjj acres ( l& by n gr[+ our own sug>4 #g4 ,a ,new ,york daily has cont5d$ t ,( c\rse1 we %\ld be ! ga9]s if e p\nd ( x 7raw cotton7 7 export$ 9 manufactur$ =m4 ,e process ?r\gh :i* ! raw mat]ial passes 9 its conv]sion into fabrics w\ld mean employm5t = ,am]ican wage-e>n]s4 ,discuss ! proposition t ! aggregate = ! labor ( ,am]ican wage-e>n]s is less if we export raw cotton ?an if we %\ld manufacture ! raw cotton 9 ?is c\ntry = export4 #h4 ,assum+ t an import duty on tea1 if suffici5tly high1 w\ld create a tea gr[+ indu/ry 9 ! ,unit$ ,/ates capable ( supply+ ! :ole dome/ic dem&1 trace ! v>i\s economic effects ( su* a duty4 #i4 ,:o ga9$ :5 ,hawaiian sug> 7be=e annexation7 0 admitt$ free ( duty1 :ile o!r sug> 0 tax$8 #aj4 ,if ! own]s ( m>ble qu>ries c %[ t _! net income is #cj p] c5t4 great] by reason ( ! protective t>iff ^u =eign m>bles1 does ?is %[ t ! t>iff increases ! weal? ( ! protect+ c\ntry8 #aa4 ,/ate any proposition :i* y ?9k t y c ma9ta9 ab\t ! relation betwe5 high or l[ wages & int]national competition4 ,ma9ta9 y\r proposition4 #ab4 ,:at d y say to ! plan ( s adju/+ duties on imports z to equalize ! labor co/ ( import$ & dome/ic commodities1 ?r\gh ! levy ( duties :i* w j (fset ! high] wages paid by ! ,am]ican employ]8 #ac4 ,is a high rate ( money wages an ob/acle to ! successful conduct ( indu/ry 9 competition ) c\ntries :]e money wages are l[8 #ad4 ,:at 0 ! argum5t orig9ally us$ z to ! comp>ative wage levels "h & abroad s f> z ! />t+ ( c]ta9 indu/ries 9 ?is c\ntry 0 conc]n$8 ,comp>e ?is argum5t ) ! curr5t protectioni/ argum5t z to ! relation betwe5 ! t>iff & ! pres5t g5]al wage level 9 ! ,unit$ ,/ates4 #ae4 ,:at help %\ld ! law ( wages give 9 expla9+ ! pres5t inequality z among ! wage scales 9 ,g]many1 ,france1 ,engl& & ! ,u4 ,s48 #af4 ,if x w\ld pay u to admit goods free1 may we be ju/ifi$ 9 tax+ !m to =ce concessions f ! o!r c\ntry8 #ag4 ,:at conditions z to consumption & production at home & abroad w\ld be mo/ favorable to ! %ift+ ( an import duty on a manufactur$ article entirely to ! consum]8 #ah4 7a7 ,a & ,b are two tropical isl&s inhabit$ by fri5dly peoples & produc+ ! same commodities4 ,! climate1 soil & topography ( ,a are su* t all k9ds ( products c be produc$ !re ) less ef=t ?an !y c be produc$ 9 ,b4 ,c\ld !re be any inc5tive = ! p ( ,a to trade ) ! p ( ,b8 7b7 ,deb>r+ all feel+s ( ho/ility & ( s5tim5tal atta*m5t to home1 is !re any reason :y ! p ( ,b %\ld n all emigrate to ,a8 7c7 ,c\ld ,b equalize conditions ( production by enact+ a protective t>iff on ! products ( ! two isl&s8 7d7 ,suppose ,a 7 discov]$ aft] a /rong civilization _h gr[n up on ,b4 ,might conditions be su* t ,a c\ld ) advantage to itself exact a protective t>iff8 ,,*apt] #ae ,,am]ican ,,t>iff ,,hi/ory ,,ref]5ces4 99,blakey1 ,r4 ,g41 ,! new rev5ue act4 ,a4 ,e4 ,rev41 #f3 #hcg-hej4 #aiaf4 ,curtis1 ,j4 ,f41 ,! adm9i/rative provisions ( ! rev5ue act ( #aiac4 ,q4 ,j4 ,e41 #bh3 #ca-de4 #aiac-aiad4 ,h(fmann1 ,i4 ,n41 ,cu/oms adm9i/ration "u ! #aiac t>iff act4 ,j4 ,p4 ,e41 #bb3 #hde-hga4 #aiad4 ,mc,kinley1 ,wm41 ,hi/ory ( t>iff legislation1 #ahab-ahif4 #ahif4 ,sumn]1 ,w4 ,g41 ,hi/ory ( protection 9 ! ,unit$ ,/ates4 #ahgg4 ,taussig1 ,f4 ,w41 ,h[ t>iffs %\ld n be made4 ,a4 ,e4 ,rev41 #a3 #bj-cb4 #aiaa4 ,taussig1 ,f4 ,w41 ,t>iff ,hi/ory ( ! ,unit$ ,/ates4 #f? ed41 #aiad4 ,taussig1 ,f4 ,w41 ,! t>iff debate ( #aiji & ! new t>iff act4 ,q4 ,j4 ,e41 #bd3 #a-ch4 #aiji-aiaj4 99,willis1 ,h4 ,p41 ,! t>iff ( #aiac4 ,j4 ,p4 ,e41 #bb3 #a-db1 #aje-aca1 #bah-bch4 #aiad4 ,,que/ions4 #a4 ,9 ! light ( ,am]ican t>iff hi/ory :at w\ld y say 7 7#a7 ! pr9cipal advantages & 7#b7 ! pr9cipal disadvantages ( a highly protective t>iff z a prim>y s\rce ( public rev5ue8 ,illu/rate y\r po9ts by hi/orical ref]5ces4 #b4 ,if o!r c\ntries c c>ry our comm]ce *eap] ?an we c d x ourselves & if ! citiz5s ( ?is c\ntry c inve/ _! money ) great] pr(it 9 o!r indu/ries1 :at are ! advantages & disadvantages ( all[+ ^? c\ntries to c>ry our comm]ce8 #c4 ,tabulate & diagram ! values ( ! imports & ( ! exports ( ! ,u4 ,s4 to & f ,europe1 ,n4 ,a41 ,s4 ,a41 ,asia1 ,oceanica & ,africa = ! late/ five ye>s report$4 ,discuss ! "q ( ,am]ican exports & imports 9 a p>agraph n exce$+ #bjj words 9 l5g?4 ,/at4 ,ab/4 7"u ,progress ( ,u4 ,s474 #d4 ,make a li/ ( ! t5 lead+ articles export$ f & ! t5 lead+ articles import$ into ! ,u4 ,s4 = ! late/ ye> available4 ,:at d ^! %[ z to ! position ( ! ,u4 ,s4 9 int]national comm]ce8 ,/at4 ,ab/4 ,,*apt] #af ,,objects ,,& ,,pr9ciples ,,( ,,taxation ,,ref]5ces4 99,bullock1 ,c4 ,j41 ,select$ read+s 9 public f9ance4 #aijf4 ,*s4 ,,viii1 ,,ix4 ,! gr[? ( f$]al exp5ditures4 ,p4 ,s4 ,q41 #ah3 #ig-aaa4 #aijc4 99,daniels1 ,pt4 ,,ii1 *s4 ,i-,,iv4 ,edgewor?1 ,f4 ,y41 ,! subjective elem5t 9 ! fir/ pr9ciples ( taxation4 ,q4 ,j4 ,e41 #bd3 #dei-dgj4 #aiji-aiaj4 99,plehn1 ,c4 ,c41 ,public f9ance4 #c;d ed41 rev & enl4 #aiac4 ,pts4 ,i1 ,,ii4 ,r\nd table discussion ( taxation4 ,a4 ,e4 ,assn4 ,bul41 #d? s]41 #a 7no4 #b73 #ccc-cdf4 #aiaa4 ,seligman1 ,e4 ,r4 ,a41 ,essays 9 taxation4 #h? ed41 #aiac4 ,,que/ions4 #a4 ,does taxation ev] infr+e on ! "r ( private prop]ty8 #b4 ,:at is x a citiz5 gets 9 return = 8 taxes8 #c4 ,is !re any relation betwe5 ! taxes paid & ! b5efits secur$ f gov]nm5t8 #d4 ,9 :at ways may we und]/& ! proposition t taxation %\ld be proportion$ to ability8 #e4 ,x is claim$ by "s t ! use by ! gov]nm5t ( indirect taxes increases exi/+ inequalities 9 ! p]sonal di/ribution ( weal?4 ,:at reasons may be giv5 = or aga9/ ?is op9ion8 ,,*apt] #ag ,,prop]ty ,,& ,,corporation ,,taxes ,,ref]5ces4 ,brooks1 ,r4 ,c41 ,! ,g]man imp]ial tax on ! une>n$ increm5t4 ,q4 ,j4 ,e41 #be3 #fhb-gji4 #aiaj-aiaa4 ,bullock1 ,*s4 ,,xi1 ,,xv4 ,compton1 ,w4 ,m41 ,rec5t t5d5cies 9 ! re=m ( =e/ taxation4 ,j4 ,p4 ,e41 #bc3 #iga-igi4 #aiae4 99,hamilton1 ,read+s1 #efj1 #efa4 ,rob9son1 ,m4 ,h41 ,! ,f$]al corporation tax4 ,a4 ,e4 ,rev41 #a3 #fia-gbc4 #aiaa4 99,s\rce ,book1 #acj-acg4 ,tuck]1 ,r4 ,s41 ,! ,briti% taxes on l& values 9 practice4 ,q4 ,j4 ,e41 #bi3 #gid-hai4 #aiad-aiae4 ,unit$ ,/ates ,bureau ( ,corporations1 ,report on ! taxation ( corporations4 ,pts4 ,i-,,iv4 #aiji-aiab4 ,special report on taxation4 #aiac4 ,"y1 ,a4 ,n41 ,! s+le tax movem5t 9 ! ,unit$ ,/ates4 #aiaf4 ,,que/ions4 #a4 ,a rec5t newspap] item says3 ,?is is ! ye> real e/ate is assess$4 ,turn ! c[ loose 9 ! front y>d1 te> d[n ! f5ce1 make ?+s look g5]ally dilapidat$1 = x w be money 9 y\r pocket4 ,:at does ?is indicate reg>d+ taxation8 #b4 ,! p>ts ( an e/ate divid$ into fifte5 equal %>es by exp]t real e/ate ag5ts 7 soon aft] assess$ v>i\sly f #ijj to #bhej = purposes ( taxation4 ,:at does ?is indicate8 7,f ,sumn]'s ,problems47 #c4 ,expla9 h[ & :y ! g5]al prop]ty tax has be5 break+ d[n 9 ! ,unit$ ,/ates ) ref]5ce to ! taxation ( public s]vice corporations4 #d4 ,:at is meant by ! sep>ation ( /ate & local rev5ues8 ,:at advantages d ! advocates ( sep>ation claim = _! plan8 ,:at is y\r judgm5t ) ref]5ce to its advisability8 #e4 ,:at is meant by ! proposition t a s+le tax on l& values is paid = all "t by ! "o :o owns ! l& at ! "t ! tax is fir/ impos$8 #f4 ,h[ does ,massa*usetts tax int]/ate railroads runn+ ?r\gh ! /ate8 ,:at defects1 if any1 d y see 9 ! ,massa*usetts plan8 #g4 ,c taxation be us$ to secure "s ( ! pr(its ( l>ge corporations8 ,,*apt] #ah ,,p]sonal ,,taxes ,,ref]5ces4 ,adams1 ,t4 ,s41 ,! effect ( income & inh]itance taxes on ! di/ribution ( weal?4 ,a4 ,e4 ,rev41 #e 7no4 #a1 supp473 #bcd-bdd4 #aiae4 ,! place ( ! income tax 9 ! re=m ( /ate taxation4 ,a4 ,e4 ,assn4 ,bul41 #d? s]41 #a 7no4 #b73 #cjb-cba4 #aiaa4 99,blakey1 ,r4 ,g41 ,! new income tax4 ,a4 ,e4 ,rev41 #d3 #be-df4 #aiad4 ,b[ley1 ,a4 ,l41 ,! ,briti% sup]-tax & ! di/ribution ( income4 ,q4 ,j4 ,e41 #bh3 #bee-bfh4 #aiac-aiad4 99,bullock1 *s4 ,,xii1 ,,xvi4 ,! taxation ( prop]ty & income 9 ,massa*usetts4 ,q4 ,j4 ,e41 #ca3 #a-fa4 #aiaf-aiag4 ,daniels1 ,pt4 ,,ii1 *4 ,,viii4 ,grice1 ,j4 ,w41 ,rec5t developm5ts 9 taxation 9 ,engl&4 ,a4 ,e4 ,rev41 #a3 #dhh-ejd4 #aiaa4 ,hill1 ,j4 ,a41 ,! income tax ( #aiac4 ,q4 ,j4 ,e41 #bh3 #df-fh4 #aiac-aiad4 ,seligman1 ,e4 ,r4 ,a41 ,! income tax4 ,ed41 #aiad4 ,smi?1 ,r4 ,h41 ,di/ribution ( income 9 ,great ,brita9 & incid5ce ( ! income tax4 ,q4 ,j4 ,e41 #be3 #baf-bch4 #aiaj-aiaa4 ,we/1 ,max1 ,! inh]itance tax4 #b;d ed41 #aijh4 ,,que/ions4 #a4 ,:at is ! pres5t /atus ( ! inh]itance tax 9 ! ,am]ican commonweal?s8 #b4 ,discuss ! proposition t income is ! normal s\rce ( taxation4 #c4 ,outl9e ! hi/ory ( income tax legislation by ! f$]al gov]nm5t4 ,:at 7 ! conditions :i* l$ to ! income tax legislation ( #aiac8 #d4 ,:at conception ( income does ! rec5t income tax embody8 ,illu/rate "s peculi> di/9ctions result+ f ?is use ( income4 #e4 ,:at is y\r op9ion conc]n+ ! ju/ice ( progressive taxation8 #f4 ,"n ! two pr9cipal argum5ts 9 favor ( progressive taxation4 ,:i* two argum5ts 9 favor ( progressive taxation d y consid] ! /ronge/ & :y8 ,:i* two argum5ts aga9/ progressive taxation d y consid] ! weake/ & :y8 ,to :at k9ds ( taxes1 if to any1 is ! pr9ciple ( progression inapplicable & :y8 ,,*apt] #ai ,,me?ods ,,( ,,indu/rial ,,remun]ation ,,ref]5ces4 99,adams1 ,t4 ,s41 & ,sumn]1 ,h4 ,l41 ,labor problems4 #h? ed41 #aiad4 ,*s4 ,,iv1 ,,ix1 ,x4 ,commons1 ,j4 ,r4 7,ed471 ,trade unionism & labor problems4 #aije4 ,*4 ,,xi4 99,commons1 ,j4 ,r41 & ,&rews1 ,j4 ,b41 ,pr9ciples ( labor legislation4 #aiaf4 ,*4 ,,ii1 secs4 #a-c4 ,cross1 ,ira ,b41 ,cop]ation 9 ,cali=nia4 ,a4 ,e4 ,rev41 #a3 #ece-edd4 #aiaa4 ,fay1 ,c4 ,r41 ,cop]ation at home & abroad4 #ahih4 ,gilman1 ,n4 ,p41 ,pr(it-%>+ betwe5 employ] & employee4 #ahhi4 ,hoxie1 ,r4 ,f41 ,:y organiz$ labor opposes sci5tific managem5t4 ,q4 ,j4 ,e41 #ca3 #fb-he4 #aiaf-aiag4 ,r\nd table discussion4 ,indu/rial effici5cy & ! int]e/s ( labor4 ,a4 ,e4 ,rev41 #b 7no4 #a1 supp473 #aag-acj4 #aiab4 ,s*loss1 ,d4 ,f41 ,me?ods ( indu/rial remun]ation4 #c;d ed41 #ahih4 ,virtue1 ,g4 ,o41 ,cop]ative coop]s ( ,m9neapolis4 ,q4 ,j4 ,e41 #ai3 #ebg-edd4 #aijd-aije4 ,wolff1 ,h4 ,w41 ,neglect$ opportunities ( cop]ation4 ,econ4 ,rev41 #af3 #aij-bjf4 #aijf4 ,,que/ions4 #a4 ,) increas+ division ( labor is !re great] or less opportunity = ! paym5t ( labor]s accord+ to ! piece-wage plan8 #b4 ,discuss ! foll[+ /atem5t3 ,"u ! piece-"w sy/em ! =eman looks out = ! quality & ! op]ative = ! quantity ( ! "w2 "u ! "t-wage sy/em ! =eman looks out = ! quantity & ! labor] = ! quality ( ! "w4 #c4 ,:at rem$y has ! =eman = an ineffici5t labor] work+ "u ! "t-wage sy/em8 #d4 ,is "t- or piece-"w be/ adapt$ to ! foll[+ k9ds ( labor]s3 coal-m9]s1 coop]s1 f>m-h&s1 pr9t]s1 engrav]s1 %oe-factory h&s1 railroad brakem51 telegraph op]ators8 #e4 ,s9ce "u ! piece-"w sy/em a man is paid only = :at he does is !re any reason = dis*>g+ a workman employ$ "u ?is plan ^: effici5cy falls bel[ ! av]age8 #f4 ,describe any case ( pr(it-%>+ y may h se5 9 op]ation4 #g4 ,9 ! case ( a cop]ative g5]al /ore d economic pr(its em]ge8 ,if s1 :]e d !y g8 #h4 ,if y h se5 a cop]ative /ore 9 op]ation tell :at 0 its success4 #i4 ,comp>e & expla9 produc]s' & consum]s' cop]ation1 %[+ ! difficulties & advantages4 ,,*apt] #bj ,,organiz$ ,,labor ,,ref]5ces4 99,adams & ,sumn]1 *s4 ,,vi1 ,,vii4 ,b>nett1 ,g4 ,e41 ,national & di/rict sy/ems ( collective b>ga9+ 9 ! ,unit$ ,/ates4 ,q4 ,j4 ,e41 #bf3 #dbe-ddc4 #aiaa-aiab4 ,b>nett1 ,g4 ,e41 ,! dom9ance ( ! national union 9 ,am]ican labor organization4 ,ibid41 #bg3 #dee-dha4 #aiab-aiac4 ,c>lton1 ,f4 ,t41 ,! hi/ory & problems ( organiz$ labor4 #aiaa4 ,commons1 *s4 ,,ii1 ,,vi4 99,commons & ,&rews1 ,*4 ,,iii1 sec4 #a4 ,groat1 ,g4 ,g41 ,an introduction to ! /udy ( organiz$ labor 9 ,am]ica4 #aiaf4 ,hoxie1 ,r4 ,f41 ,sci5tific managem5t & labor4 #aiae4 ,hoxie1 ,r4 ,f41 ,! tru? ab\t ! ,i4 ,w4 ,w4 ,j4 ,p4 ,e41 #ba3 #ghe-gig4 #aiac4 ,hoxie1 ,r4 ,f41 ,trade unionism 9 ! ,unit$ ,/ates3 g5]al "* & types2 ! int]pretation ( union types4 ,j4 ,p4 ,e41 #bb3 #bja-bag1 #dfd-dha4 #aiad4 ,lewis1 ,h4 ,t41 ,! economic basis ( ! fight = ! clos$ %op4 ,j4 ,p4 ,e41 #bj3 #ibh-ieb4 #aiab4 ,mc,cabe1 ,d4 ,a41 ,! /&>d rate 9 ,am]ican trade unions4 #aiab4 ,mit*ell1 ,john1 ,organiz$ labor4 #aijb4 99,s\rce ,book1 #bad-bbg 7extract f ,mc,cabe74 ,webb1 ,sidney & ,beatrice1 ,indu/rial democracy4 #ahig4 ,wolman1 ,l41 ,! boycott 9 ,am]ican trade unions4 #aiaf4 ,,que/ions4 #a4 ,are ! opportunities = workm5 to rise to ! rank ( ma/]s z great z =m]ly8 #b4 ,:at are ! *ief causes ( ! orig9 & rise ( trade unions8 ,di/+ui% betwe5 a trade union & a labor union4 #c4 ,:at are ! conditions favorable to national agreem5ts betwe5 trade unions & employ]s' associations8 ,expla9 cle>ly ! be>+ ( ea* ( ^! conditions4 #d4 ,describe ! practices includ$ "u ! t]m direct action1 & contra/ ) ! me?ods ( collective b>ga9+ & legislation4 #e4 ,are /rikes becom+ m or less frequ5t & important 9 y\r /ate8 ,9 answ] to ?is "q give figures f #ahha on if obta9able1 %[+ numb] ( /rikes2 e/abli%m5ts affect$ & to :at ext5t2 loss 9 wages & to employ]s4 ,diagram ! figures4 ,ref41 ,u4 ,s4 ,bu4 ( ,labor1 ,annual report1 #aijf4 #f4 ,d trade unions increase or decrease ! numb] ( /rikes8 #g4 ,if y 7 an (fic] ( a trade-union1 w\ld y beg9 a /rike :5 trade 0 good or :5 x 0 poor8 #h4 ,does x make any diff]5ce 9 ! p]man5ce ( an increase ( wages br\ght ab\t by a /rike1 :e!r ! employ] is "o ( ! m successful or "o ( ! less successful 9 t bus9ess8 #i4 ,give examples ( ! diff]5t k9ds ( boycott4 ,:at seems to be ! attitude ( ! f$]al c\rts z to ! lawfulness ( boycotts8 #aj4 ,is !re any simil>ity betwe5 ! me?ods ( trade unions & ! etiquette ( ! m$ical & ! legal pr(essions8 #aa4 ,"s trade unions limit ! numb] ( appr5tices 9 _! trades4 ,is ?is a ju/ifiable policy on _! "p8 #ab4 ,( ! me?ods employ$ by trade unions to raise ! wages ( _! memb]s1 :i* are prejudicial & :i* are n prejudicial to ! int]e/s ( ! re/ ( ! community1 includ+ non-union labor8 ,give reasons4 #ac4 ,c wages be affect$ by ! collective b>ga9+ ( trade unions & if s indicate 9 t connection a ju/ification 7if "o exi/s7 = trade union organization4 #ad4 ,if a trade union sets a m9imum rate ( wages l[] ?an ! competitive m>ket rate w\ld be 9 ! abs5ce ( organization1 :i* rate w\ld ! memb]s receive8 ,/ate ! facts f ! ,s\rce ,book :i* lead y to y\r answ]4 #ae4 ,h trade unions rais$ or l[]$ ! wages ( non-union labor8 #af4 ,:at is ! attitude ( ,am]ican trade unions t[>d effici5cy sy/ems z attempts to introduce improv$ me?ods ( production 7n sy/ems ( paym5t78 ,,*apt] #ba ,,public ,,regulation ,,( ,,h\rs ,,& ,,wages ,,ref]5ces4 ,abbott1 ,edi?1 ,progress ( ! m9imum wage 9 ,engl&4 ,j4 ,p4 ,e41 #bc3 #bfh-bgg4 #aiae4 ,wom5 9 indu/ry4 #aiae4 99,adams & ,sumn]1 *s4 ,,ii1 ,,viii1 ,,xii1 secs4 #a-d1 #i1 ,,xiii1 sec4 #b4 ,b>nett1 ,g4 ,e41 & ,mc,cabe1 ,d4 ,a41 ,m$iation1 inve/igation & arbitration ( indu/rial disputes4 #aiaf4 ,cl>k1 ,v4 ,s41 ,! labor movem5t 9 ,au/ralasia4 #aijf4 ,commons1 *s4 ,,vii1 ,,viii1 ,,xviii1 ,,xxi4 99,commons & ,&rews1 *s4 ,,iii1 secs4 #b1 #c1 ,,iv1 ,v4 ,compton1 ,w4 ,m41 ,wage !ories 9 indu/rial arbitration4 ,a4 ,e4 ,rev41 #f3 #cbd-cdb4 #aiaf4 ,hammond1 ,m4 ,b41 ,judicial int]pretation ( ! m9imum wage 9 ,au/ralia4 ,a4 ,e4 ,rev41 #c3 #bei-bhf4 #aiac4 ,hammond1 ,m4 ,b41 ,wages bo>ds 9 ,au/ralia4 ,q4 ,j4 ,e41 #bi3 #ih-adh1 #cbf-cfa1 #efc-fcj4 #aiad-aiae4 ,holcombe1 ,a4 ,n41 ,! legal m9imum wage 9 ! ,unit$ ,/ates4 ,a4 ,e4 ,rev41 #b3 #ba-cg4 #aiab4 ,kelley1 ,flor5ce1 ,m9imum-wage laws4 ,j4 ,p4 ,e41 #bj3 #iii-ajaj4 #aiab4 ,millis1 ,h4 ,a41 ,"s aspects ( ! m9imum wage4 ,j4 ,p4 ,e41 #bb3 #acb-aee4 #aiad4 ,mote1 ,c4 ,h41 ,indu/rial arbitration4 #aiaf4 ,p]sons1 ,c4 ,e41 ,wom5's "w & wages 9 ! ,unit$ ,/ates4 ,q4 ,j4 ,e41 #bi3 #bja-bcd4 #aiad-aiae4 ,suff]n1 ,a4 ,e41 ,conciliation & arbitration 9 ! coal indu/ry ( ,am]ica4 #aiae4 ,unit$ ,/ates ,bureau ( ,labor ,/ati/ics1 ,bul4 #age4 #aiae4 ,summ>y ( report on woman & *ild wage-e>n]s4 ,webb1 ,sidney1 ,! economic !ory ( a legal m9imum wage4 ,j4 ,p4 ,e41 #bj3 #igc-iih4 #aiab4 ,wise1 ,e4 ,f41 ,wage bo>ds 9 ,engl&4 ,a4 ,e4 ,rev41 #b3 #a-bj4 #aiab4 ,,que/ions4 #a4 ,if y c d m "w 9 two h\rs ?an 9 "o1 c y d m cont9u\sly 9 sixte5 consecutive h\rs ?an 9 eight8 #b4 ,:at det]m9es ! maximum /udy "t = ! e>ne/ /ud5t8 #c4 ,:5 does an indu/ri\s man /op work+ on 8 own f>m1 & :y8 #d4 ,if production is r$uc$ "o-f\r? by %ort] h\rs1 is "w made to t degree = ! unemploy$8 #e4 ,def5d ! m9imum wage policy f ! workman's po9t ( view1 & /ate ! employ]s' objections !reto4 #f4 ,suppose x 7 propos$ to e/abli% by law a univ]sal n9e-h\r day = m54 7a7 ,"u :at conditions w\ld y consid] su* a law socially b5eficial8 7b7 ,:at o!r ag5cies might accompli% ! ends :i* su* a law is design$ to effect8 7c7 ,:at are ! *ief social & economic effects :i* y w\ld expect f su* a law8 ,,*apt] #bb ,,o!r ,,protective ,,labor ,,& ,,social ,,legislation ,,ref]5ces4 99,adams & ,sumn]1 *s4 ,v1 sec4 #c1 ,,xii1 sec4 #e1 ,,xiii1 sec4 #c4 ,addams1 ,jane1 ,*ild labor legislation1 a requisite = indu/rial effici5cy4 ,a4 ,a4 ,a41 #be3 #edb-eej4 #aije4 ,commons1 *s4 ,,xiv1 ,,xix1 ,,xx1 ,,xxii1 ,,xxiii1 ,,xxvi1 ,,xxxviii4 99,commons & ,&rews1 ,*s4 ,,vi1 ,,vii1 ,,ix4 ,fi%]1 ,w4 ,c41 ,! field ( workm5's comp5sation 9 ! ,unit$ ,/ates4 ,a4 ,e4 ,rev41 #e3 #bba-bgh4 #aiae4 ,leis]son1 ,w4 ,m41 ,! movem5t = public labor ex*anges4 ,j4 ,p4 ,e41 #bc3 #gjg-gaf4 #aiae4 ,pig\1 ,a4 ,c41 ,unemploym5t4 #aiad4 ,rub9[1 ,i4 ,m41 ,! problem ( unemploym5t4 ,j4 ,p4 ,e41 #ba3 #cac-cca4 #aiac4 ,rub9[1 ,i4 ,m41 ,subsidiz$ unemploym5t insurance4 ,ibid41 #dab-dca4 #aiac4 ,sumn]1 ,h4 ,l41 & ,m]ritt1 ,e4 ,a41 ,*ild labor legislation 9 ! ,unit$ ,/ates4 #aiae4 ,unit$ ,/ates ,bureau ( ,labor ,/ati/ics1 ,bul4 #aei4 #aiae4 ,,que/ions4 #a4 ,:at classes ( economic goods or s]vices are regulat$ by law & :y8 #b4 ,is !re any lik5ess betwe5 trade-unions & t>iffs8 ,betwe5 t>iffs & factory legislation8 #c4 ,:at reasons are giv5 9 ju/ification ( laws clos+ b>b] %ops on ,sundays8 #d4 ,may a p]son own+ a lot on a resid5ce /reet ( a city erect a glue factory on x8 #e4 ,:at h y not$ z to ! b5efits or h>d%ips ( re/rict+ *ild labor 9 factories8 #f4 ,9 :at k9ds ( social legislation is ! f$]al "* ( our gov]nm5t a s]i\s b> to exp]im5tation8 ,%[ cle>ly ! reasons :y4 #g4 ,if population became /ation>y1 nei!r increas+ nor decreas+ 9 numb]s1 & if me?ods 7 discov]$ :i* w\ld r5d] possible ! production ( ! same am\nt ( weal? p] ye> z at pres5t ) only half ! =ce ( labor]s employ$1 & if ! av]age labor day 7 n %ort5$1 w\ld !re n be a great & app>5tly p]man5t lack ( employm5t8 ,discuss ?or\ghly & give reasons = y\r answ]4 #h4 ,9 :at s5se is ! unemploym5t1 s manife/ 9 a p]iod ( indu/rial depression1 evid5ce t ! numb] ( work]s is 9 excess ( ! "w to be done8 ,,*apt] #bc ,,social ,,insurance ,,ref]5ces4 ,adams & ,sumn]1 *4 ,,xii1 secs4 #f-h4 ,baldw91 ,f4 ,s41 ,old age p5sion s*emes3 a criticism & a program4 ,q4 ,j4 ,e41 #bd3 #gac-gdb4 #aiji-aiaj4 ,commons1 *4 ,,xxv4 99,commons & ,&rews1 *4 ,,viii4 ,fo]/]1 ,r4 ,f41 ,! ,briti% national insurance act4 ,q4 ,j4 ,e41 #bf3 #bge-cab4 #aiaa-aiab4 ,frankel1 ,l4 ,k41 & ,dawson1 ,m4 ,m41 ,work+m5's insurance 9 ,europe4 #aiaj4 ,h5d]son1 ,c4 ,r41 ,indu/rial insurance 9 ! ,unit$ ,/ates4 #aiji4 ,lewis1 ,f4 ,w41 ,/ate insurance4 #aiji4 ,national ,civic ,f$]ation1 ,social ,insurance ,dep>tm5t1 ,report ( ! committee on prelim9>y =eign inquiry4 #aiae4 ,rub9[1 ,i4 ,m41 ,/&>ds ( sickness insurance4 ,j4 ,p4 ,e41 #bc3 #bba-bea1 #cbg-cfd1 #dcg-dfd4 #aiae4 ,unit$ ,/ates ,bureau ( ,labor1 ,annual reports1 #aijh1 #aiji4 ,w>r51 ,b4 ,s41 & ,syd5/rick]1 ,edg>1 ,heal? insurance4 #aiaf4 ,,que/ions4 #a4 ,are indu/rial accid5ts m frequ5t 9 l[ paid or 9 high paid occupations8 #b4 ,sugge/ advantages & disadvantages ( a g5]al sy/em ( compulsory indu/rial insurance = old age1 sickness & accid5ts4 ,:at are ! ess5tial diff]5ces betwe5 ^! ?ree =ms ( insurance8 #c4 ,%[ to :at ext5t a sy/em ( work+m5's insurance has be5 develop$ 9 "o ( ! foll[+ c\ntries3 ,g]many1 ,france1 ,italy1 ,engl&4 ,9 ! developm5t ( a g5]al sy/em ( work+m5's insurance 9 ! ,u4 ,s41 :i* "o ( ! above =ms w probably fir/ come 98 ,= :at reasons has a sy/em ( ?is k9d n be5 develop$ 9 ! ,u4 ,s48 ,h5d]son1 ,c4 ,r41 ,indu/rial insurance4 ,,*apt] #bd ,,population ,,& ,,immigration ,,ref]5ces4 99,adams & ,sumn]1 *4 ,,iii4 99,commons & ,&rews1 *4 ,,ii1 sec4 #d4 ,fair*ild1 ,h4 ,p41 ,immigration4 #aiac4 ,! /&>d ( liv+--up or d[n8 ,a4 ,e4 ,rev41 #f3 #i-be4 #aiaf4 ,fett]1 ,f4 ,a41 ,population or prosp]ity4 ,a4 ,e4 ,rev41 #c 7no4 #a1 supp473 #e-ai4 #aiac4 7,presid5tial address be=e ! ,am]ican ,economic ,association1 #aiab1 mu* ( :i* is incorporat$ ) *ap4 #bd 9 ! text47 ,gold5weis]1 ,e4 ,a41 ,walk]'s !ory ( immigration4 ,am4 ,j4 ,soc1 #ah3 #cdb-cea4 #aiab-aiac4 ,hall1 ,p4 ,f41 ,! rec5t hi/ory ( immigration & immigration re/riction4 ,j4 ,p4 ,e41 #ba3 #gce-gea4 #aiac4 99,hamilton1 ,read+s1 #chd-chf1 #cib-cie4 ,husb&1 ,w4 ,w41 ,! significance ( emigration4 ,a4 ,e4 ,rev41 #b 7no4 #a1 supp473 #gi-he4 #aiab4 ,r\nd table discussion ( above1 #hf-hh4 ,j5ks1 ,j4 ,w41 & ,lauck1 ,w4 ,j41 ,! immigration problem4 #aiab4 ,lauck1 ,w4 ,j41 ,! vani%+ ,am]ican wage-e>n]4 ,atlan4 ,mo41 #aaj3 #fia-fif4 #aiab4 99,mat]ials1 #adf-aef4 ,mayo-,smi?1 ,ri*mond1 ,/ati/ics & economics4 #ahii4 ,bk4 ,i1 *4 ,v4 ,mayo-,smi?1 ,ri*mond1 ,/ati/ics & sociology4 #ahie4 ,bk4 ,i1 *s4 ,v-,,vii4 ,millis1 ,h4 ,a41 ,"s economic aspects ( ,japanese immigration4 ,a4 ,e4 ,rev41 #e3 #ghg-hjd4 #aiae4 ,page1 ,t4 ,w41 ,! di/ribution ( immigrants 9 ! ,unit$ ,/ates be=e #ahgj4 ,j4 ,p4 ,e41 #bj3 #fgf-fid4 #aiab4 ,page1 ,t4 ,w41 ,"s economic aspects ( immigration be=e #ahgj4 ,ibid41 #bj3 #ajaa-ajbh2 #ba3 #cd-ee4 #aiab1 #aiac4 ,rob]ts1 ,pet]1 ,! new immigration4 #aiab4 ,ross1 ,e4 ,a41 ,! old _w 9 ! new4 #aiad4 99,s\rce ,book1 #ahg-aih4 7,extract f ,j5ks & ,lauck47 ,w>ne1 ,f4 ,j41 ,! tide ( immigration4 #aiaf4 ,,que/ions4 #a4 ,tabulate & *>t ! *anges t h tak5 place 9 our immigration 9 reg>d to 7#a7 am\nt1 7#b7 "*4 ,:at problems are pres5t$ by ^! facts8 ,/at4 ,ab/4 #b4 ,expla9 ! t]ms ! new immigration & ! old immigration1 & give ! important /ati/ical facts reg>d+ !m4 #c4 ,%[ ! application ( ! doctr9e ( population to ! pres5t problem ( immigration & wages 9 ,am]ica4 #d4 ,d ! figures on immigration %[ any?+ z to ! ne$ ( legislation re/rict+ immigration8 #e4 ,:at has be5 ! effect ( ! rec5t immigration into ! ,unit$ ,/ates ^u ! use ( ma*9]y8 #f4 ,apply ! !ory ( wages to expla9 ! effect ( pres5t immigration on ! wages ( unskill$ or slightly skill$ work]s4 #g4 ,if ! supply ( labor ( any class 7 to be decreas$ t5 p] c5t41 w\ld wages rise 9 l proportion8 #h4 ,is immigration n[ add+ to ! g5]al welf>e 9 ! ,unit$ ,/ates8 ,/ate ! facts & g5]al economic pr9ciples on :i* y base y\r answ]4 #i4 ,if !re is an immigration ( half a million work]s annually into a c\ntry = a p]iod ( t5 ye>s--dur+ :i* no new natural res\rces are made available1 w\ld wages 9 t c\ntry be affect$8 ,if s1 ( :at classes ( work]s8 ,:at w\ld be ! effect on ! am\nt ( income receiv$ by l& own]s8 #aj4 ,expla9 h[ ! g5]al pr9ciples ( price-det]m9ation hold 9 ! det]m9ation ( wages4 ,%[ h[ ^! pr9ciples apply :5 !re is ext5sive employm5t ( s\!rn & ea/]n ,europeans4 7,see ,s\rce ,book47 #aa4 ,if 9 a giv5 labor m>ket ! numb] ( labor]s increases :ile ! numb] & te*nical effici5cy ( indirect ag5ts rema9s un*ang$1 :at *ange1 if any1 w result 9 ! av]age rate ( wages8 ,:at *ange1 if any1 w !re be 9 ! return to ! indirect ag5ts8 #ab4 ,is common1 unskill$ labor sc>ce 79 any reasonable s5se ( ! ^w7 9 ,*9a8 9 ! ,unit$ ,/ates8 ,,*apt] #be ,,agricultural ,,& ,,rural ,,population ,,ref]5ces4 ,c>v]1 ,t4 ,n41 ,select$ read+s 9 rural economics4 #aiaf4 ,c>v]1 ,t4 ,n41 ,! "w ( rural organization4 ,j4 ,p4 ,e41 #bb3 #hba-hdd4 #aiad4 ,c\lt]1 ,j4 ,l41 ,agricultural developm5t 9 ! ,unit$ ,/ates1 #aijj-aiaj4 ,q4 ,j4 ,e41 #bg3 #a-bf4 #aiab-aiac4 ,hibb>d1 ,b4 ,h41 ,t5ancy 9 ! nor? c5tral /ates4 ,q4 ,j4 ,e41 #be3 #gaj-gbi4 #aiaj-aiaa4 ,hibb>d1 ,b4 ,h41 ,t5ancy 9 ! nor? ,atlantic /ates4 ,q4 ,j4 ,e41 #bf3 #aje-aag4 #aiaa-aiab4 ,hibb>d1 ,b4 ,h41 ,t5ancy 9 ! we/]n /ates4 ,q4 ,j4 ,e41 #bf3 #cfc-cgf4 #aiaa-aiab4 ,hibb>d1 ,b4 ,h41 ,t5ancy 9 ! s\!rn /ates4 ,q4 ,j4 ,e41 #bg3 #dhb-dif4 #aiab-aiac4 ,hoagl&1 ,h4 ,e41 ,! movem5t ( rural population 9 ,ill9ois4 ,j4 ,p4 ,e41 #bj3 #iac-ibg4 #aiab4 ,n\rse1 ,e4 ,g41 ,agricultural economics4 #aiaf4 7,a l>ge volume ( read+s1 well select$ & edit$47 ,r\nd table discussion4 ,! decl9e ( ! rural population4 ,a4 ,e4 ,rev41 #b 7no4 #a1 supp73 #ea1 #eb4 #aiab4 ,r\nd table discussion4 ,rural conditions 9 ! s\?4 ,ibid41 #dh-ej4 #aiab4 ,taylor1 ,h4 ,c41 ,agricultural economics4 #aije4 ,vogt1 ,p4 ,l41 ,! f>m]'s labor income4 ,a4 ,e4 ,rev41 #f3 #hjh-hbb4 #aiaf4 ,,que/ions4 #a4 ,cite any in/ances y h not$ ( local *anges ( population di/ribution z betwe5 c\ntry & city4 ,:at are ! *ief facts ( int]e/ 9 ^! cases8 ,:at =ces c y assign z causes ( ! *anges8 ,has agricultural activity be5 accel]at$ or ret>d$8 ,has x receiv$ a set-back8 #b4 ,a weal?y metropolitan bank] pur*ases a l>ge c\ntry e/ate 9 a section 9 :i* f>m+ is practically on a subsi/5ce basis & 9 :i* 9 rec5t ye>s _m f>ms h be5 ab&on$4 ,he applies labor & mat]ials lavi%ly to ! soil1 sp>+ no exp5ditures = purposes :i* w assi/ 9 ! production ( crops ( ! be/ quality4 ,"u :at conditions c ?is be pr(itably done8 ,:at w be ! probable effect on local agriculture1 7a7 if ! entire product ( ! e/ate is consum$ ^u x8 7b7 if a sub/antial "p ( ! product is m>ket$ 9 competition ) t ( ! local f>m]s8 ,:at *anges are likely to occur ) ref]5ce to ! occupation ( ! local population8 ,) ref]5ce to its migration8 #c4 ,:y is x t immigrants are n[ tak+ up ! f>ms ( ,new ,engl& :i* h1 9 "s cases = ye>s1 be5 ab&on$ by native f>m]s8 ,is ! fact t !y are do+ s an argum5t = or aga9/ ! re/riction ( immigration8 #d4 ,:at is ! g5]al t5d5cy ( immigrants 9 ! matt] ( settlem5t 9 urban & rural communities8 #e4 ,if x is true t ! relative decl9e ( ! agricultural population ( ! ,unit$ ,/ates c be expla9$ by ! op]ation ( purely economic =ces1 on :at gr\nds is !re ju/ification = compla9t z to ! evils ( conc5tration ( population 9 cities8 ,,*apt] #bf ,,problems ,,( ,,agricultural ,,economics ,,ref]5ces4 ,c>v]1 ,t4 ,n41 ,select$ read+s 9 rural economics4 #aiaf4 ,c\lt]1 ,j4 ,l41 ,m>ket+ ( agricultural l&s 9 ,m9nesota & ,nor? ,dakota4 ,a4 ,e4 ,rev41 #b3 #bhb-cja4 #aiab4 ,gold5weis]1 ,e4 ,a41 ,! f>m]'s income4 ,a4 ,e4 ,rev41 #f3 #db-dh4 #aiaf4 ,huebn]1 ,g4 ,g41 ,agricultural comm]ce3 ! organization ( ,am]ican comm]ce 9 agricultural commodities4 #aiae4 ,int]national ,in/itute ( ,agricultural ,/ati/ics ,ye> ,book4 ,monographs on agricultural cop]ation 9 v>i\s c\ntries4 #aiaf4 ,kemm]]1 ,e4 ,w41 ,agricultural cr$it 9 ! ,unit$ ,/ates4 ,a4 ,e4 ,rev41 #b3 #heb-hgb4 99,mat]ials1 #djg1 #djh1 #dji4 ,metcalf1 ,r41 & ,black1 ,c4 ,g41 ,rural cr$it cop]ation1 & agricultural organization 9 ,europe4 #aiae4 ,olm/$1 ,v4 ,h41 ,! pur*as+ p[] ( f>m products4 ,unit$ ,/ates ,dept4 ( ,agric41 ,report1 #aiab4 99,phillips1 *4 ,,xxvii4 ,on agricultural cr$it4 ,p[ell1 ,f4 ,w41 ,cop]ative m>ket+ ( ,cali=nia fre% fruit4 ,q4 ,j4 ,e41 #bd3 #cib-dah4 #aiji-aiaj4 ,putnam1 ,g4 ,e41 ,agricultural cr$it legislation & ! t5ancy problem4 ,a4 ,e4 ,rev41 #e3 #hje-hae4 #aiae4 ,putnam1 ,g4 ,e41 ,f>m cr$it 9 ,kansas4 ,ibid41 #bg-cg4 #aiae4 ,putnam1 ,g4 ,e41 ,! f$]al rural cr$it bill4 ,ibid41 #f3 #ggj-ghi4 #aiaf4 ,%aw1 ,a4 ,w41 ,"s problems 9 m>ket di/ribution4 ,q4 ,j4 ,e41 #bf3 #gjc-gfe4 #aiaa-aiab4 99,s\rce ,book1 #cd-dg1 #dh-eg1 #ge-hj1 #ha-ij4 ,w>r51 ,g4 ,f41 ,f>m managem5t4 #aiac4 7,treats prim>ily ! problem ( ! individual f>m1 b also _m ( ! broad] economic que/ions47 ,weld1 ,l4 ,d4 ,h41 ,! m>ket+ ( f>m products4 #aiaf4 ,,que/ions4 #a4 ,:y has ! corporate =m ( bus9ess organizations n be5 z ext5sively introduc$ into ! f>m+ indu/ry z into o!r indu/ries8 #b4 ,discuss ! foll[+ /atem5ts quot$ f an article on ! ,f$]al ,f>m ,loan ,act ( #aiaf4 ,!re 0 no necessity = any k9d ( f$]al legislation affect+ ! l& cr$it problem ( l&-own]s4444 ,!re is1 h[ev]1 ! m press+ problem 444 ( mak+ ! conditions ( c\ntry life m attractive to ! y\ng] g5]ation ( f>m]s4 ,9 accompli%+ ?is end "s =m ( l& pur*ase legislation is ne$$4 ,am]4 ,econ4 ,rev41 #f3 #ghi4 #aiaf4 #c4 ,h[ d urban & rural di/ricts diff] 9 _! pref]5ce = & use ( diff]5t k9ds ( bank cr$it8 ,,*apt] #bg ,,! ,,railroad ,,problem ,,ref]5ces4 ,br[n1 ,h4 ,g41 ,! competition ( transportation companies4 ,a4 ,e4 ,rev41 #d3 #gga-gib4 #aiad4 ,br[n1 ,h4 ,g41 ,transportation rates & _! regulation4 #aiaf4 ,cl>k1 ,j4 ,m41 ,"s neglect$ phases ( rate regulation4 ,a4 ,e4 ,rev41 #d3 #efe-egd4 #aiad4 ,dixon1 ,f4 ,h41 ,! ,mann-,elk9s ,act1 am5d+ ! act to regulate comm]ce4 ,q4 ,j4 ,e41 #bd3 #eic-fcc4 #aiji-aiaj4 ,dunn1 ,s4 ,o41 ,railway discrim9ation4 ,j4 ,p4 ,e41 #bj3 #dcg-dfa4 #aiab4 ,geph>t1 ,w4 ,f41 ,! place ( ! canal 9 a national sy/em ( transportation4 ,a4 ,e4 ,assn4 ,bul41 #d? s]41 #a 7no #b73 #ahh-aif4 #aiaa4 ,r\nd table discussion1 #aig-bjc4 ,hadley1 ,a4 ,t41 ,railroad transportation4 #ahhd4 ,hammond1 ,m4 ,b41 ,railway rate !ories ( ! int]/ate comm]ce commission4 ,q4 ,j4 ,e41 #be3 #a-ff1 #bgi-ccf1 #dga-ech4 #aiji-aiaj4 ,johnson1 ,e4 ,r41 ,am]ican railway transportation4 #c;d ed41 #aijh4 ,johnson1 ,e4 ,r41 ,inl& wat]way policy4 ,a4 ,e4 ,assn4 ,bul41 #d? s]41 #a3 #aff-agd4 #aiaa4 ,johnson1 ,e4 ,r41 ,! pr9ciples ( gov]nm5tal regulation ( railways4 ,p4 ,s4 ,q41 #ae3 #cg-di4 #aijj4 ,mc,fall1 ,r4 ,j41 ,railway monopoly & rate regulation4 #aiaf4 ,mat]ials1 #fbg1 #fbh4 ,mey]1 ,b4 ,h41 ,c]ta9 consid]ations 9 railway rate mak+4 ,a4 ,e4 ,rev41 #d 7no4 #a1 supp473 #fi-hj4 #aiad4 ,r\nd table discussion ( above1 #ha-ajj4 ,pr\ty1 ,c4 ,a41 ,railway discrim9ations & indu/rial comb9ations4 ,a4 ,a4 ,a41 #ae3 #da-ej4 #aijj4 ,ripley1 ,w4 ,z41 7,ed471 ,railway problems4 #aijg4 ,ripley1 ,w4 ,z41 ,railroads3 rates & regulation4 #aiab4 ,ripley1 ,w4 ,z41 ,railroad ov]capitalization4 ,q4 ,j4 ,e41 #bh3 #fja-fbi4 #aiac-aiad4 ,ripley1 ,w4 ,z41 ,railroads3 f9ance & organization4 #aiae4 99,s\rce ,book1 #cfa-cfg1 #cfh-cgh1 #cgi-chb4 ,,que/ions4 #a4 ,:y is transportation a great] problem 9 ! ,unit$ ,/ates ?an 9 ,europe8 #b4 ,%[ 9 :at way natural wat]ways h det]m9$ ! location ( lead+ cities 9 ,am]ica4 #c4 ,give examples ( cities ^: gr[? has be5 caus$ by railroads4 #d4 ,^u :at consid]ations are commodities classifi$ = %ipm5t by railroads8 ,is classification unfair discrim9ation8 ,illu/rate by an example4 #e4 ,:at classes ( int]e/s are affect$ by increas+ ! m9imum weight = c>loads8 ,expla9 9 ea* case :e!r ! effect is favorable or unfavorable & ! reasons !re=4 #f4 ,does co/ ( s]vice h any?+ to d ) ! rates *>g$ by railroads8 #g4 ,give an example ( a blanket rate t]ritory & ! reasons !re=4 #h4 ,:at is ! long & %ort haul clause ( ! ,int]/ate ,comm]ce ,act8 ,expla9 :y railroads make rates :i* contrav5e ! t]ms ( ?is clause1 & :y ! gov]nm5t %\ld =bid ! railroads to make su* rates4 #i4 ,a railroad connect+ two competitive po9ts *>ges "o-f\r? ( a c5t p] ton mile on gra9 %ipm5ts f its inl& t]m9us1 :ile x *>ges "o c5t p] ton mile on gra9 %ipm5ts f non-competitive t]ritory4 ,:at consid]ations h probably l$ to ! e/abli%m5t ( ! above rates8 ,might n ! railroad increase its net rev5ue by rais+ ! rate on ?r\gh traffic to "o-half c5t p] ton mile & l[]+ ! local rate to ?ree-f\r?s ( a c5t p] ton mile8 #aj4 ,! rate on corn 9 c>load lots f ,omaha1 ,neb4 to ,newport ,news1 ,va4 is #aj c5ts p] hundr$ p\nds4 ,f ! ,omaha region !re are compet+ c>ri]s to ! ,gulf & o!r ,atlantic ports4 ,! rate on corn 9 c>load lots f po9ts 9 ,virg9ia to ,newport ,news ov] ! same r\te is #ab c5ts p] hundr$ p\nds4 ,c\ld n ! local rates be l[]$ if ! c>ri]s advanc$ ! rates on ! long-di/ance haul8 #aa4 ,:at cases h y se5 :]e ! railroads impose unju/ly on ! public8 #ab4 ,give in/ances y h se5 or he>d ( :]e two %ipp]s paid diff]5t rates = ! same s]vice4 #ac4 ,d y "k any l>ge cities t are m favorable %ipp+ po9ts ?an neighbor+ t[ns8 #ad4 ,:at legal rights d ! build]s ( a railroad h t are n enjoy$ by all citiz5s8 #ae4 ,c y see any cle> di/9ction betwe5 ! public nature ( a railroad & t ( a horse & c>riage8 #af4 ,:at h>m c !re be 9 ! acceptance ( passes by judges1 legislators1 & o!r public (ficials8 #ag4 ,ought ! law prohibit ! sale ( tickets by scalp]s8 #ah4 ,if y\r neighbor rides on a pass & y pay y\r f>e1 are y help+ to pay = 8 ride8 #ai4 ,:y %\ld prea*]s get half-f>e rates8 #bj4 ,:at are ! *ief reasons = ! gov]nm5tal regulation ( railways8 #ba4 ,:y does ! "q ( ! control ( ! railways 9 ! int]e/ ( ! public pres5t especial difficulties 9 ,am]ica8 ,,*apt] #bh ,,! ,,problem ,,( ,,indu/rial ,,monopoly ,,ref]5ces4 ,bol51 ,g4 ,l41 ,pla9 facts z to ! tru/s & ! t>iff4 #aijb4 ,colli]1 ,w4 ,m41 ,! tru/s4 #aijj4 ,cott]1 ,a41 ,! au!ntic hi/ory ( ! ,unit$ ,/ates ,/eel ,corporation4 #aiaf4 ,hobson1 ,j4 ,a41 ,! evolution ( mod]n capitalism4 ,ed41 #aiab4 ,*4 ,v4 ,jones1 ,eliot1 ,! an?racite coal comb9ation 9 ! ,unit$ ,/ates4 #aiad4 ,k+1 ,w4 ,i41 ,! weal? & income ( ! p ( ! ,unit$ ,/ates4 #aiae4 ,meade1 ,e4 ,s41 ,! economics ( comb9ation4 ,j4 ,p4 ,e41 #bj3 #ceh-cgb4 #aiab4 ,tru/ f9ance4 #aijc4 ,montague1 ,g4 ,h41 ,tru/s ( to-day4 #aijd4 ,ripley1 ,w4 ,z41 ,indu/rial conc5tration z %[n by ! c5sus4 ,q4 ,j4 ,e41 #ba3 #fea-feh4 #aijf-aijg4 7,ed471 ,tru/s1 pools & corporations4 ,ed41 #aiaf4 99,s\rce ,book1 #bee-bfd4 7,extract f ,unit$ ,/ates ,commission] ( ,corporations1 ,report on ! transportation ( petroleum47 ,/ev5s1 ,w4 ,s41 ,classification ( pools & associations4 ,a4 ,e4 ,rev41 #c3 #ede-ege4 #aiac4 ,/ev5s1 ,w4 ,s41 7,ed471 ,indu/rial comb9ations & tru/s4 #aiac4 ,/ev5s1 ,w4 ,s41 ,a gr\p ( tru/s & comb9ations4 ,q4 ,j4 ,e41 #bf3 #eic-fdc4 #aiaa-aiab4 ,/ev5s1 ,w4 ,s41 ,! p[d] tru/1 #ahgb-aiab4 ,ibid41 #ddd-dha4 #aiaa-aiab4 ,unit$ ,/ates ,commission] ( ,corporations1 ,report on ! transportation ( petroleum4 #aijf4 ,will\ghby1 ,w4 ,f41 ,! integration ( indu/ry 9 ! ,unit$ ,/ates4 ,q4 ,j4 ,e41 #af3 #id-aae4 #aija-aijb4 ,,que/ions4 #a4 ,:at l>ge tru/s h rec5tly be5 =m$8 #b4 ,/ate ! motives = =m+ tru/s1 sep>at+ ^? :i* are socially b5eficial & ^? :i* are anti-social4 #c4 ,enum]ate ! advantages possess$ by a tru/ ov] a small competitor1 & indicate :i* ( ^! are ! results ( l>ge scale production & :i* are due to ! possession ( monopoly p[]4 #d4 ,are !re any conditions "u :i* a comb9ation w\ld be a m economical unit ( production & di/ribution ?an a s+le plant l>ge en\gh to secure all advantages to be obta9$ f m]e quantity ( output8 ,if s1 /ate !m cle>ly4 #e4 ,expla9 c>efully ! causes & limits ( ! advantages ( l>ge production4 ,give ?ree examples ( indu/ries 9 :i* ! advantages are se54 #f4 ,h y obs]v$ ! gr[? ( any local indu/ry f a small beg9n+ to l>ge proportions8 ,if s1 h[ d y acc\nt = x8 #g4 ,:at is ! l>ge/ manufactur+ e/abli%m5t 9 y\r home t[n8 ,w\ld a numb] ( small] e/abli%m5ts ( ! same sort & ) ! same aggregate capacity succe$ z well8 ,:y8 #h4 ,:at relation has improv$ transportation & o!r means ( communication to tru/s8 #i4 ,:at are ! *ief me?ods by :i* tru/s or comb9ations h s\ght to make economies 9 managem5t8 #aj4 ,describe ! *>act]i/ic features ( ! pool1 ! tru/ & ! hold+ company4 #aa4 ,describe any agreem5t ( :i* y "k1 made betwe5 m]*ants or manufactur]s = ! purpose ( regulat+ prices4 ,did prices g up or d[n z a result8 #ab4 ,:at is a simple price agreem5t8 ,h[ does x diff] f a pool8 ,is !re any diff]5ce 9 ! matt] ( legality8 ,reasons4 #ac4 ,:at are ! limits to ! price-fix+ & pr(it-e>n+ p[]s ( monopolies8 ,are !re any o!r conditions :i* w t5d to *eck ! indef9ite gr[? ( comb9ations8 #ad4 ,expla9 & illu/rate by a concrete example ! circum/ances relat+ to co/ ( production :i* t5d to make a monopoly price l[] ?an ! previ\s competitive price = ! same article4 ,no ref]5ce is "h int5d$ to local or tempor>y cuts 9 price by monopolies :i* are int5t by su* means on captur+ a local m>ket4 #ae4 ,if all trade is ex*ange1 d n ! memb]s ( a tru/ r$uce _! income :5 !y raise ! price ( _! products by artificial agreem5t8 #af4 ,five plants engag$ 9 ! production ( a giv5 article 9 diff]5t p>ts ( ! ,unit$ ,/ates are comb9$ "u ! own]%ip ( a s+le corporation =m$ = ?is purpose4 ,be=e ! comb9ation ^! five plants produc$ #ge p] c5t4 ( ! total output ( ! article 9 "q1 ea* produc+ approximately #ae p] c5t42 ! rema9+ #ge p] c5t4 0 produc$ by sev5 plants1 no "o ( ^! turn+ out m ?an #e p] c5t4 ( ! total output4 ,ea* ( ! fir/ five plants 0 l>ge en\gh to secure all kn[n economies 9 ! co/s ( trans=m+ ! raw mat]ial into ! physically f9i%$ product1 & ea* 0 runn+ to its full capacity4 ,! aggregate net e>n+s ( ! five plants 7 #a1jjj1jjj a ye>4 ,! co/ ( reproduc+ ^! five is #ad1jjj1jjj4 ,! new corporation issues & pays to ! own]s ( ! prop]ties tak5 ov] #aj1jjj1jjj 9 #e p] c5t4 fir/ mortgage bonds1 #f1jjj1jjj 9 cumulative pref]r$ /ock1 & #h1jjj1jjj 9 common /ock4 ,:at w det]m9e :e!r ?is comb9ation possesses monopoly p[]8 ,is ! corporation ov]capitaliz$8 ,if s1 to :at ext5t8 ,/ate cle>ly :at y mean by ov]capitalization8 ,is x probable t ! e>n+s ( ! new corporation w be great] ?an ! aggregate e>n+s ( ! five plants1 if ! price ( ! product is n increas$8 ,if s1 h[ w ?is increase be ga9$8 ,if !re is an increase 9 e>n+s1 h[ w ! price ( ea* ( ! ?ree k9ds ( securities ( ! corporation be affect$8 #ag4 ,suppose t ! effective dem& = a c]ta9 k9d ( goods 9 ! c\ntry z a :ole w v>y 9 ! foll[+ mann] ) ! price *anges indicat$3 #a4jj #a1jjj1jjj units #a4aj #ijj1jjj units #a4bj #hjj1jjj units #a4cj #gjj1jjj units #a4dj #fjj1jjj units #a4ej #ejj1jjj units #a4fj #djj1jjj units #a4gj #cjj1jjj units #a4hj #bjj1jjj units ,!re are t5 companies ea* produc+ #ajj1jjj units at a co/ ( #ij c5ts 7includ+ all co/s b an all[ance = divid5ds on inve/m5t7 ?is giv+ j en\gh ( a m>g9 to ea* company to cause x to cont9ue 9 ! indu/ry4 ,:at imm$iate effect on prices c\ld a comb9ation consi/+ ( six firms h1 assum+ t ! co/ p] unit ( product & t ! output ( ! indep5d5ts rema9 un*ang$8 ,%[ = ea* ( ! prices indicat$ :at ! am\nt ( ! m>g9 made by ! f\r indep5d5t competitors 7altoge!r7 & by ! comb9ation w\ld be4 ,:at less imm$iate effects w\ld be likely to foll[1 & :y8 #ah4 ,is grant+ pat5ts an int]f]5ce ) trade simil> to t>iffs8 #ai4 ,is x "r t ! lucky inv5tor ( a popul> toy %\ld make #ajj a day f x8 #bj4 ,is x "r t an inv5tor %\ld by pat5t laws be able to keep ! pr(its ( 8 bus9ess high8 ,,*apt] #bi ,,public ,,policy ,,9 ,,respect ,,to ,,monopoly ,,ref]5ces4 ,&]son1 ,b4 ,m41 ,jr41 ,competition v]sus monopoly ! issue ( ! campaign4 ,indep5d5t1 #gc3 #iig-ajjb4 #aiab4 ,bol51 ,g4 ,l41 ,pla9 facts z to ! tru/s & ! t>iff4 #aijb4 ,br[n1 ,w4 ,j41 ,! prev5tion & control ( monopolies4 #aiae4 ,cl>k1 ,j4 ,b41 ,! problem ( monopoly4 #aijd4 ,cl>k1 ,j4 ,b41 & ,j4 ,m41 ,! control ( tru/s4 ,ed41 #aiad4 ,cl>k1 ,j4 ,m41 ,rates = public utilities4 ,a4 ,e4 ,rev41 #a3 #dgc-dhg4 #aiaa4 ,colli]1 ,w4 ,m41 ,! tru/s4 #aijj4 ,davies1 ,j4 ,e41 ,tru/ laws & unfair competition4 #aiaf4 ,dur&1 ,e4 ,d41 ,! tru/ problem4 #aiae4 ,see also ,q4 ,j4 ,e41 #bh3 #cha-daf1 #ffd-gjj4 #aiac-aiad4 ,dur&1 ,e4 ,d41 ,! tru/ legislation ( #aiad4 ,q4 ,j4 ,e41 #bi3 #gb-ig4 #aiad-aiae4 ,ely1 ,r4 ,t41 ,monopolies & tru/s4 #aijj4 ,gray1 ,j4 ,h41 ,! control ( public s]vice corporations4 ,a4 ,e4 ,rev41 #d 7no4 #a1 supp473 #ah-dd4 #aiad4 ,r\nd table discussion ( above1 #de-fh4 ,hot*kiss1 ,w4 ,e41 ,rec5t tru/ decisions & bus9ess4 ,a4 ,e4 ,rev41 #d 7no4 #a1 supp473 #aeh-agb4 #aiad4 ,r\nd table discussion ( above1 #agc-aie4 ,j5ks1 ,j4 ,w41 ,! tru/ problem4 #aijj4 ,knau?1 ,o4 ,w41 ,capital & monopoly4 ,p4 ,s4 ,q41 #ca3 #bdd-bei4 #aiaf4 ,knau?1 ,o4 ,w41 ,competition & capital4 ,ibid41 #cj3 #egh-eij4 #aiae4 ,knau?1 ,o4 ,w41 ,! policy ( ! ,unit$ ,/ates t[>d indu/rial monopoly4 #aiad4 ,le,rossignol1 ,j4 ,e41 ,monopolies pa/ & pres5t4 #aijj4 ,or?1 ,s4 ,p4 7,ed471 ,read+s on ! relation ( gov]nm5t to prop]ty & indu/ry4 #aiae4 ,ripley1 ,w4 ,z41 7,ed471 ,tru/s1 pools & corporations4 ,ed41 #aiaf4 99,s\rce ,book1 #chc-che4 ,! ,%]man anti-tru/ act4 ,/ev5s1 ,w4 ,s41 ,! ,clayton act4 ,a4 ,e4 ,rev41 #e3 #ch-ed4 #aiae4 ,! trade commission act4 ,ibid41 #d3 #hdj-hee4 #aiad4 ,unit$ ,/ates ,indu/rial ,commission1 ,report4 #ahih-aija4 #ai vols4 ,wright ,c4 ,w41 ,! economics ( gov]nm5tal price regulation4 ,a4 ,e4 ,rev41 #c 7no4 #a1 supp473 #abf-aca4 #aiac4 ,r\nd table discussion ( ?is pap] & t ( ,j4 ,m4 ,cl>k1 #acb-adb4 ,wyman1 ,bruce1 ,control ( ! m>ket4 #aiaa4 ,,que/ions4 #a4 ,:at is ! tru/ problem8 #b4 ,does ! public consid] ! gr[? ( tru/s to be good or bad8 ,:at d /ud5ts ( ! "q ?9k ( x8 #c4 ,:i* "o ( ! foll[+ views d y ?9k to be ne>e/ ! tru? & :y8 7a7 ,! tru/ is a natural & inevitable outcome ( mod]n conditions & is a di/9ct economic ga94 7b7 ,! tru/ is a result ( special privileges & corporate abuses4 7c7 ,! tru/ is ! greate/ inv5tion ( ?is or any o!r age4 #d4 ,w\ld x be a good ?+ = society if a tru/ made great economies 9 production1 cr[d$ out its small] competitors1 & ma9ta9$ prices j :]e !y 7 be=e1 divid+ among its %>ehold]s ! am\nts sav$8 #e4 ,h[ w\ld ! effects on society be diff]5t if prices 7 r$uc$ by bett] organization & ! prev5tion ( wa/e8 #f4 ,if x c\ld be %[n t tru/s h l[]$ prices1 %\ld t fact exempt !m f all int]f]5ce f legislation8 #g4 ,describe briefly ! unfair practices ( monopoli/ic corporations4 ,:at specific features ( ! rec5t railroad & tru/ legislation are aim$ at ! prev5tion ( ^! practices8 #h4 ,is x good public policy to all[ a tru/ to und]sell its small] competitor 9 "o di/rict :ile x keeps up its prices else:]e8 #i4 ,are mo/ positive laws int5d$ to h9d] competition or make x fre]8 #aj4 ,copy f ! /atutes ( two /ates f> ap>t1 ^? sections t p]ta9 to anti-tru/ or anti-monopoly legislation4 ,note ! g5]al nature ( ?is legislation1 special features1 p5alties = violations1 etc41 & discuss4 #aa4 ,:at are ! ma9 provisions 9 "o ( ! foll[+3 7a7 ,%]man ,anti-,tru/ ,law1 7b7 ,massa*usetts ,bus9ess ,corporation ,law1 7c7 ,! ,new ,companies' ,acts1 ,engl&1 7d7 ,g]man ,company ,law4 #ab4 ,ab/ract & discuss ! ,nor!rn ,securities decision4 ,d y see any argum5ts to be advanc$ = pool+8 ,d y ?9k ! decision effective 9 /opp+ pool+8 ,ripley 7,ed471 ,tru/s1 pools & comb9ations4 ,,*apt] #cj ,,public ,,own]%ip ,,ref]5ces4 ,bemis1 ,e4 ,w41 7,ed471 ,municipal monopolies4 #ahii4 ,brooks1 ,r4 ,c41 ,municipal ,affairs1 #e3 #a-cdf4 #aija4 7,an exhau/ive & well-arrang$ bibliography on all aspects ( municipal problems47 ,dewsnup1 ,e4 ,r41 ,! attitude ( ! /ate t[>d railways1 a discussion ( ! "q ( nationalization4 ,a4 ,e4 ,assn4 ,bul41 #d? ,fairlie1 ,j4 ,a41 ,rec5t ext5sions ( municipal functions 9 ! s]41 #a1 no4 #b3 #age-ahg4 #aiaa4 7,vol4 ( ,pap]s & discussions47 ,unit$ ,/ates4 ,a4 ,a4 ,a41 #be3 #bii-caj4 #aije4 ,guyot1 ,yves1 ,:]e & :y public own]%ip has fail$4 ,trans4 by ,h4 ,f4 ,bak]4 #aiad4 ,knapp1 ,m4 ,a41 ,gov]nm5t own]%ip ( railroads4 ,a4 ,a4 ,a41 #ai3 #fa-gc4 #aijb4 ,national ,civic ,f$]ation1 ,report on municipal & private op]ation ( public utilities4 #aijg4 #c vols4 7,a monum5tal /udy by an ,am]ican delegation1 :i* visit$ _m cities ( ,europe & ,am]ica2 favorable1 9 ! ma91 to ext5sion ( municipal own]%ip47 ,w9*ell1 ,b4 ,l41 ,drift t[>d gov]nm5t own]%ip ( railways4 ,atlan4 ,mo41 #aaj3 #gdg-geh4 #aiab4 ,,que/ions4 #a4 ,does e gov]nm5t ent]prise necess>ily n>r[ ! field = private ent]prise & dim9i% ! am\nt ( competition8 #b4 ,:at =ms ( /ate activity favor survival ( unfit m5 & bad traits ( "*8 ,:at =ms help ! fitte/ to survive8 #c4 ,:at are municipal fran*ises8 ,:]e are !y8 #d4 ,:y does ! public cons5t to grant pat5ts or public fran*ises8 #e4 ,:at k9ds ( municipal indu/ries h y se5 9 op]ation8 ,h[ successful 7 !y8 #f4 ,:at are ! ma9 argum5ts = & aga9/ ! city own]%ip & control ( gas & wat]works8 ,:at tr\bles arise f city politics8 #g4 ,"n ! indu/ries t are own$ & controll$ by t[ns & cities ( :i* y h a p]sonal k4 ,:i* ( !m are mo/ satisfactory 9 y\r judgm5t8 ,:i* ! lea/ s8 #h4 ,:at is ! public s5tim5t 9 y\r home community z to ! own]%ip ( indu/ries by ! t[n or city8 ,,*apt] #ca ,,"s ,,aspects ,,( ,,socialism ,,ref]5ces4 ,brooks1 ,j4 ,g41 ,! problem ( syndicalism4 ,a4 ,e4 ,rev41 #d 7no4 #a1 supp473 #aae-acj4 #aiad4 ,r\nd table discussion ( above1 #aca-aeg4 ,cl>k1 ,j4 ,b41 ,social ju/ice )\t socialism4 #aiad4 ,ensor1 ,r4 ,c4 ,k41 7,ed471 ,mod]n socialism4 #b;d ed41 #aijg4 7,selections f sociali/ic s\rces47 ,gladd51 ,wa%+ton1 ,tools & ! man4 #ahic4 7,"o example ( a l>ge numb] ( ,am]ican books appeal+ = ! application ( ,*ri/ian e?ics to social que/ions47 ,hillquit1 ,m41 ,hi/ory ( socialism 9 ! ,unit$ ,/ates4 #aijc4 ,hillquit1 ,m41 ,socialism 9 !ory & practice4 #aiji4 ,h9ds1 ,w4 ,a41 ,am]ican communities4 #b;d ed41 #aijh4 7,describes _m exp]im5ts1 all failures2 by a sympa?iz] ) socialism47 ,kirkup1 ,t41 ,inquiry into socialism4 #c;d ed41 #aijg4 7,a sympa!tic1 b n a p>tizan /atem5t47 ,lockwood1 ,g4 ,b41 ,! ,new ,h>mony movem5t4 #b;d ed41 #aijg4 ,m>t91 ,john1 ,an attempt to def9e socialism4 ,a4 ,e4 ,assn4 ,bul41 #d? s]41 #a 7no4 #b73 #cdg-ced4 #aiaa4 ,r\nd table discussion ( above1 #cee-cfg4 ,m5g]1 ,a41 ,! "r to ! :ole produce ( labor4 ,trans4 #ahii4 7,ma/]ly criticism47 ,rae1 ,john1 ,contempor>y socialism4 #c;d ed41 #aija4 7,/&>d "w by a non-sociali/47 ,s*aeffle1 ,a41 ,! qu9tess5ce ( socialism4 ,ed41 #ahih4 7,exposition by a non-sociali/1 s favorable t x is us$ by ! sociali/s z a tract47 ,spahr1 ,c4 ,b41 ,pres5t di/ribution ( weal? 9 ! ,unit$ ,/ates4 #ahif4 ,sp>go1 ,john1 ,socialism4 #aijf4 7,pro47 ,wall+1 ,w4 ,e41 ,socialism z x is4 #aiab4 7,pro47 ,wall+1 ,w4 ,e41 & o!rs1 ,! socialism ( to-day4 #aiaf4 7,a s\rce book47 ,watk9s1 ,g4 ,p41 ,gr[? ( l>ge =tunes4 #aijg4 ,wells1 ,h4 ,g41 ,new worlds = old4 #aijh4 7,an appeal = ju/] di/ribution2 ,fabian s*ool47 ,,que/ions4 #a4 ,9 ! la/ analysis is !re anyone--retir$ capitali/ or unskill$ day-work]--^: title to ! real income he receives is d]iv$ solely f ! prop]ty he owns1 or solely f ! labor he p]=ms8 #b4 ,:at is x to e>n a liv+8 ,h[ _m p d x8 #c4 ,if capital is ne$$ 9 production :y is ! "q ( ju/ice rais$ :5 its use is paid =8 #d4 ,:at is ! doctr9e ( economic h>monies8 ,give ?ree examples 7di/9ct 9 k9d7 9 mod]n legislation :i* run c\nt] to ?is doctr9e1 ) ! ju/ification = ea* ( ^!4 #e4 ,def9e *>ity4 ,apply ! g5]al pr9ciples ( *>ity to free s*ools1 free libr>ies1 & free clo?+ to s*ool *ildr54 #f4 ,:at is economic fre$om8 ,h[ diff]5t f political fre$om8 #g4 ,is cu/om a bett] regulator ( economic action ?an competition8 #h4 ,:at are ve/$ rights8 ,d !y ev] /& 9 ! way ( progress8 ,examples4 #i4 ,di/+ui% betwe5 ! sociali/ic & ! competitive pr9ciples ( di/ribution4 #aj4 ,:at classes ( ?9k]s are mo/ incl9$ to take up socialism8 7,classes consid]$ socially1 indu/rially1 z to race1 z to economic & hi/orical tra9+47 #aa4 ,if socialism r$uc$ ! total product1 w\ld x /ill be desirable because ( ! bett] di/ribution8 #ab4 ,:at effect w\ld x h if ! /ate %\ld make labor]s "w = unsuccessful employ]s at l[] wages ?an = successful ones8 ,or %\ld r$uce r5ts = ! less capable m]*ants & manufactur]s8 #ac4 ,is !re any rule = det]m9+ ! limits ( /ate int]f]5ce8 #ad4 ,if y _h ! p[]1 :at s+le public measure t y believe w\ld be practicable & effective w\ld y put on ! /atute books1 9 ord] to make a ju/] division ( ! social income8 ,give reasons4 #ae4 ,! weal? ( ! ,unit$ ,/ates increas$ f #g1jjj1jjj1jjj 9 #ahej to #ahh1jjj1jjj1jjj 9 #aiab4 ,h[ 0 ?is weal? di/ribut$ accord+ to 7a7 ! sociali/ic !ory ( value8 7b7 ! s+le tax !ory8 7c7 ! !ory ( value "u competitive conditions8 #af4 ,:at are ! *ief ways 9 :i* ! rule ( competitive value has be5 nullifi$ 9 ?is p]iod4 #ag4 ,w\ld socialism gu>antee /ead9ess or regul>ity 9 economic activity1 ?us elim9at+ ! ph5om5a ( economic crises & depressions8 #ah4 ,9 :at way does taxation n[ %ift ! di/ribution ( real incomes z among p]sons8 ,by :at o!r me?ods & 9 :at degree c\ld su* taxation be ext5d$8 99 99 99 99 99 ,,transcrib]',s ,,notes #a4 ,all errors & inconsi/5cies 9 spell+1 punctuation1 italicization h be5 reta9$1 except z not$ bel[4 #b4 ,on p4 #i1 ! title ',! geography ( comm]ce' _h a l[] case 't' 9 ',!' 9 ! orig9al4 #c4 ,on p4 #aj1 ! "q ',:at is meant by ! ,factory ,sy/em8' appe>$ 9 ! orig9al z ',:at is meant by ! ,factory ,sy/em4' #d4 ,on p4 #ab1 ! "q ',:at are ! pr9cipal ?+s besides money uses t cause a dem& = gold & silv]8' _h a full /op 7p]iod7 in/ead ( a "q m>k 9 ! orig9al4 #e4 ,on p4 #ae1 9 ! phrase 'piece ( ! same d5om9ation' ! orig9al _h 'demon9ation'4 #f4 ,on p4 #ag1 9 ! ref]5ce to '*s4 ,,vi1 ,,vii1 ,,xiii4'1 ! "n ',phillips' 0 n italiciz$ 9 ! orig9al4 #g4 ,9 ! table at ! top ( p4 #ah labell$ ',av]age prices ='1 !re 0 no comma aft] ',wool' 9 ! orig9al4 #h4 ,on p4 #ah ! p5ultimate s5t5ce 9 "q #g1 ) ! phrase 'weight+ affect y\r fir/'1 lack$ a "q m>k 9 ! orig9al4 #i4 ,on p4 #ba "q #i1 ab\t ',two m5 ,a & ,b'1 _h 'transacton' in/ead ( 'transaction' 9 ! orig9al4 #aj4 ,on p4 #bc1 "q #ag1 ',suppose t ?is bank444'1 _h two full /ops 7p]iods7 in/ead ( "o aft] '#ajb'4 #aa4 ,on p4 #ch1 ! hang+ ind5t aft] ! ref]5ce beg9n+ ',virtue1' 0 a regul> ind5t 9 ! orig9al4 #ab4 ,on p4 #db1 9 ! ref]5ce beg9n+ ',unit$ ,/ates'1 ! abbreviation ',bul4' 0 italiciz$ 9 ! orig9al1 al?\gh x 0 n italiciz$ 9 its o!r occurr5ces4 #ac4 ,on p4 #dd1 ! ^w '&' 9 ! ref]5ce beg9n+ ',w>r51 ,b4' 0 italiciz$ 9 ! orig9al4 #ad4 ,on p4 #df1 ! hang+ ind5t aft] ! ref]5ce to ',! "w ( rural organization' 0 a normal ind5t 9 ! orig9al4 #ae4 ,on p4 #dg1 ! au?or ( ',t5ancy 9 ! s\!rn /ates'1 ,b4 ,h4 ,hibb>d1 0 %[n z ,h4 ,e4 ,hibb>d 9 ! orig9al4 #af4 ,on p4 #di1 ! "q ',h[ d urban & rural444' _h a full /op 7p]iod7 in/ead ( a "q m>k 9 ! orig9al4 #ag4 ,on p4 #ec1 presumably ei!r ! phrase '^! five plants produc$ #ge p] c5t4' 0 meant to be '^! five plants produc$ #be p] c5t4' or ! phrase '! rema9+ #ge p] c5t4' 0 meant to be '! rema9+ #be p] c5t4' #ah4 ,on p4 #ee1 ! initials ( ,le,rossignol 7 n italiciz$ 9 ! orig9al4 #ai4 ,on p4 #ef1 ! phrase 'its prices else:]e' 0 'its prices elsew]e' 9 ! orig9al4 #bj4 ,on p4 #eh1 9 ! "q ab\t ! 'doctr9e ( economic h>monies'1 ! ^w 'ju/ification' 0 'ju/ificaton' 9 ! orig9al4 #ba4 ,on p4 #ei1 ! "q ab\t 'unsuccessful employ]s' _h 'unsuccesful' 9 ! orig9al4 #bb4 ,! phrase 'l& own]s' occurs once 9 ! text2 ! ^w 'l&-own]s'1 brok5 across l9es1 occurs once4 ,?is discrepancy has be5 reta9$1 ) ! ^w 'l&-own]s' r ?an 'l&[n]s' be+ arbitr>ily *os5 = ! latt]4