exchange between England and the United States to be heavily against England, how will this fact affect the export and import trade between the two countries, and
- What is meant by exchanges being against a country?
- Enumerate the principal circumstances which affect the rate of exchange between two countries. How is the par of exchange ascertained?
- In what way are gold and silver distributed among the different trading countries? Between different parts of the same country?
- Trace the effects of large and continuous issues of inconvertible paper currency on the prices of commodities, on importation and exportation, and on the foreign exchanges.
- State the conditions under which international trade can permanently exist. What will be the ultimate effect of a large movement of foreign gold upon prices, imports, and exports in the receiving country?
- State the theory of the value of money (i.e., “metallic money”), and clear up any apparent inconsistencies between the following statements: (1.) The value of money depends on the cost of production at the worst mines; (2.) The value of money varies inversely as its quantity multiplied by its rapidity of circulation; (3.) The countries whose products are most in demand abroad and contain the greatest value in the smallest bulk, which are nearest the mines and have the least demand