First published in 1987, this is a reissue of the first book to offer a detailed comparison of two of the foremost stock exchanges in world before 1914. It is not only an exercise in comparative economic history but it also relates these institutions to wider world markets, thereby clarifying their functions and how they related to the general financial and economic framework. Students and researchers in economic and social history will welcome the reissue of this groundbreaking account of two historically important institutions in a crucial period of their development. Financial practitioners and others will also find much of interest here, in terms of both fascinating history and of insights into an era when a global market was rapidly evolving largely free of the twentieth-century distortions and hindrances introduced by wars, interventionist governments and exchange controls.

This book is a classic work on economics and exchange rates, first published in 1861. Goschen's analysis of the foreign exchanges and the role of gold as a universal currency remains relevant to this day. This edition includes a new introduction by leading economists. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Economics is more than simply the cost of a gallon of milk. Economics is also the science of society, the basis upon which a civilization functions at its most basic level. Productivity, commerce, and value all are essential elements that define and affect a community deeply. Eminent economist Frank W. Taussig brings the complex and sometimes intimidating subject to light in Principles of Economics (first published in 1911) by writing for the specialist as well as those with a simple educated curiosity about economics and its relevance to every member of a community. In Volume I, he focuses on labor, production, banking, and trade. (Volume II covers the distribution of wealth, wages, problems in economics, and taxes.) By sacrificing no scholarship while ensuring the subjects are accessible, Taussig presents an invaluable treatise on the science of society. American economist FRANK WILLIAM TAUSSIG (1859-1940) was professor of political economy at Harvard University, longtime editor of the Quarterly Journal of Economics, and an advisor to U.S. president Woodrow Wilson during World War II. He is also the author of Elements of Political Economy (1884), The Tariff History of the United States (1888), and International Trade (1927).