January 4, 1868.

Aus:
The Economist, 4. Januar 1868. S. 1.
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Money Market.  Zusatz von Marx.
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(Notes Reserves mit Country Banks.[)]

B.o.E. Notes with the Public 1 Jan. ’68. 2 Jan. 67 3 Jan. ’66.
£24,842,000 £23,740,000 £22,200,000

DerEconomist“ meint, daß die increase of 21/2 Mill. in the outstanding notes tells significantly of the larger Actual Note Reserves kept by Country Bankers.

Aus:
The Economist, 4. Januar 1868. S. 1–3.
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The Alleged Degeneration of England in Commercial Morality.

Spectator (chorus of lamentation over the pitiable condition of commercial morality in this country) affirms „that dishonesty is the besetting sin of the middle class.“ Aber Frage: „whether the commercial class of to-day is positively less honest than the commercial class of the last generation?“ … Not at all …  Zusatz von Marx.
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Seine doctrin:
Die „latent immorality“ gleich groß. Besondre Umstände develop sie nur oder besondre temptation.  Kommentar von Marx.
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⦗Der Esel sagt das indeß alles zur Vertheidigung der present Commercial Morality.⦘
Great openings for safe fraud suddenly presented … What is it which really tries commercial morality in its most delicate essence? Clearly, a widely ramified system of credit. It is no great moral achievement not to cheat in a ready-money transaction … No national character for commercial honesty can … be fairly established at all, until thoroughly tried and tested by an extensive system of credit. Aber credit never developed in any age of the world, or country at the present time, wie recently in England und U. States. Man kann daher nicht compare the England or America of 1867 (in Bezug auf entwikeltes Creditsystem) mit France or Germany of 1867, or even mit England und America of 1837 or 1847. Und dann, nützlicher to compare a commercial morality exposed to the newest, most complicated, and heaviest possible trials, with a commercial morality exposed to very much less complicated and much lighter trials, and trials of a kind to which it had already become inured. Take Railways. Englisch Railways nicht subject to State Control, wie die meisten Foreign ones. Die Vergleichung fails again. … England nur zu vergleichen mit U. States, und da der comparison is not disgraceful to England.

Aus:
The Economist, 4. Januar 1868. S. 4.
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Considerable Fall in Prices. Seit 1866.

A) Wholesale Prices. London 1st January of 1868, 1867 und 1866.
Articles 1 Jan. 1868 1 Jan. 1867. 1 Jan. 1866. 1868 less than
1867 1866
I) P.Ct. P.Ct.
1) Cotton. Dhollera lb. 51/2d. 121/2d. 171/4d. 58 70
2) Silk Raw. Cossim lb. 16s. 19s. 20s. 18 20
3) Flax. St. Petersburg. ton. £53 £54 £80 34
4) Wool. English S. D. 240 lb. £141/2 £19 £22 24 33
II)
5) Oil, Seal, Pale. 252 gls. £41. £46 £50 10 20
6) Saltpetre. Eng. Refin. cwt. 31s. 24s. 28s.
7) Copper. T. C. ton £76. £86 £106 10 29
8) Iron. – B. Bars. £61/2 £7 £8 8 20
9) Tin. – English Bars. £96. £85 £104 8
III)
10) Yarn. Mule. 40.’s 40’s lb. 111/2d. 21d. 30d. 46 64
11) Cotton Cloth – Gold End. 10s. 4d. 15s. 9d. 18s. 6d. 37 44

During the same time, the wages in all the trades dependent on these raw materials have fallen from 20 to 30%. The cost of producing most of the great articles of export composing our foreign trade has been reduced 1/3 during the last 2 years. Suffering and distress inflicted by this gigantic revulsion was inevitable. Terrible penalty entailed by the infatuated notions of the Prosperity years. Export Trade feels  Zusatz von Marx.
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(!)
schon the effect of this Cheapness.

B) 1867, 1866, 1865. Eleven Months end. November. Exports of Manufactures. Value and Quantities.
Value. Million £. Quantities.
Articles. 1867. 1866. 1865. 1867. 1866. 1865.
Mlns. Mlns. Mlns.

Cotton Yarn.

13.7£

12.4

9.3.

153

126

94 lbs

Cotton Piece Goods. 48.8 53.1 41.0 2,567 2,341 1,850 yards
62.5 65.5 50.3 2,720 2,467 1,944

Iron. Puddled et Pig.

1.6

1.4.

1.4

0.53

0.45

0.49 tons

     Bar and Bolt 2.2 2.1 2.0 0.27 0.25 0.23
     Rail 4.6 3.9 3.3 0.55 0.46 0.40
8.4 7.4 6.7 1.35 1.16 1.12 tons
Iron. Total. All kinds. 14.2 13.7 12.2 1.77 1.56 1.48 tons.
Woollen Cloths. 5.0 5.0 3.7 29.47 32.31 24.27 Yards
Aus:
The Economist, 4. Januar 1868. S. 9–11.
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French Companies. (From „Le Finance“. 1866.[)]

In 1866 Calls made in France for French Cos. 496,000,000 (round figures) und für Foreign Cos. 514,000,000f. Davon waren:

In: French Companies: Comptoir d’Escompte (30 Mill. fc.) Société Générale (30 Mill. fc.) The Fives-Lille (6,150,000f.) Railways 300 Mls. fc.

In Foreign Undertakings: Suez Canal (100 Mill. f.) Austrian Credit Foncier (115 Mill. f.) Nagares of the Span. Gvt. (47,500,000f.) Conversion of Spanish Debt (2,500,000f. Tunisian Loan (31,500,000f.) Russian loan (89,500,000f.) Danub. Princip. (31,500,000) Austrian Railways: 33,750,000f.|

60

Aus:
The Economist, 4. Januar 1868. S. 11.
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Annual Rate of Mortality in 1867 per 1000 persons living in great cities of U. Kingd.

London, 23, Bristol, 23, Birmingham, 24, Sheffield, 25, Hull, 25, Leeds, 27, Edinburgh 27, Dublin 27, Salford 29, Glasgow, 29, Liverpool 30, Manchester 31, Newcastle-on-Tyne, 31. Decrease in almost all the towns upon the rates of 1866.

I) U. Kingdom.

  • 1) Money Market, Bank o. E. etc, Currency. Exchange.
    • Movement at Bank o. England and Clearing House. 1868. (p. 3–10) Notes to same. (13–18)
    • Capital of Bank o. E. (44) Profits of (29) Joint Stock Banks Profits und Rate of Discount (23, 28) Banking Progress, First Half Year ’68 (39)
    • Money Market. Anfang 1868 (59) March (64) October (47, 48) August. Alleged Influence of French Loan (78)
    • Bank Act. 1844 and Gold Export. (4 41)
    • Changes in Rates of Discounts. Action and Reaction. (50) 28 Nov. und Dec. 5 (54)
    • Annual Average Minimum Discount Rates of B.o.E. (42)
    • Influences of Prices of Articles on Money Market (65)
    • Gold, Silver, and Copper coined 1853–’67 (75)
    • Gold Imported und Exported. U. Kingd. 1858–1867. (75)
    • Worn Coin (31)
    • Seignorage on Coin (46)
    • Amount and Condition of Gold Coinage in U. Kingd. (Jevons) (80–84)
    • Foreign Settlements on London Stock Exchange. (53)
    • Negotiations of Foreign Bills of Exchange in London (65)
  • 2) Crisis of 1866 und Nachwirkungen.
    • Das Jahr 1867. Bullion movement. (42) Rate of Discount (19) Dates of ’67 (21) Silk. Agricultural Implements. (22) Its Commercial etc aspects (19) Alterations in values of securities (20, 23)
    • Causes of Present Depression (22, 25), Influence of Commercial Depression on Railway Revenue (44, 45)
    • Crisis of ’66 und Nachwehn. (31) Fall of Revenue ’68 (70)
    • Panic and investments. (40) Market Value of Financial Co’s. Shares (33–35)
    • Fall in Prices since ’66. (59)
    • Nature of Commercial Crises. (61) Agra and Masterman’s Bank (40)
  • 3) Commercial Morality.
  • 4) Railways.
    • State Control (21)
    • Caledonian (21) (28, 29) Accounts. Ersatz des Verschleisses (24)
    • Midland Rail. Börsenmogelei und Directors. (24)
    • Brighton Railway Verschleiß von steamers (25) Falsification of Accounts. Working Expenses (34) Wear and Tear (31) Paying weight, dead weight (28) Construction and Management (31) Steel and Iron rails. (26)
    • Patterson: Railway Finance (27) (29)
    • Railway Trains. 1866. (25, 30)
    • Capital of Railways in U. Kingd. 1866 (24, 42) in 1867 etc (55, 56)
    • Bird: Railway Accounts. (27) Estimate of intrinsic Value id. (38, 39) Railways Accounts defended durch Saturday Revue (27)
    • Railway Profits. Delusive Gvt. figures. Their Competition. (22)|
    • 88
    • Railways, 1845–46. Hudson. (37, 38)
    • Banks and Railway Cos. (24) Lawyers and Rail. (24)
    • Chatham, Lond., Dover and Landed Property (45)
    • Rates charged on goods in Ireland on a main line. (84)
    • New Act of ’68 (41)
    • Injuries from vibration und smoke of Railways (34)
  • 5) Cotton.
    • Cotton Prices 1866, ’67, 68 (28) Manchester Trade Circular Jan. 1868 (27)
    • Import, Export. 1867. (30)
    • Market 1868 (32, 43, 48, 49, 50, 56)
    • Cotton in U. States. (57, 58)
    • Cotton Statistics Bill. (35, 37, 40, 68)
  • 6) Wheat.
    • Importations. 1868 (43) Imports ’66, ’67, 68 (53)
    • Average Cornprices. (67)
    • Sources from which U. Kingd. draws wheat. Rangliste der in U. Kingd. wheat importirenden Ländern changed in last years. U. St. Russia. Germ. (71, 72)
    • Contract price per cwt. for Bread. Board of Guardians of Whitechapel 1864–68 (73)
  • 7) Notes on Trade. (facts, Statistics)
    • Board of Trade Returns. (29, 31, 40, 44, 48)
    • Foreign Trade. First Half Year ’66, ’67, ’68 (43, 52, 53)
    • Imports, Exports ’68. (62)
    • Wool Trade. Oct. 68 (45)
  • 8) Land
    • Freetrade in. (Fawcett) (58)
    • Rent and Value of Land. (60)
    • Peasantry Proprietors. (61, 62)
    • Ownership and Occupation of land (72, 73)
    • Paternal Landlordism. (86)
  • 9) Wages, Pauperism, Unions etc. Incomes, Taxes etc.
    • Insolvency of Trades’ Unions. (69)
    • Bonus System (68, 69) Industrial Partnership etc (71)
    • Meeting of Ironmasters. Reduction of Wages. (66)
    • Collieries. Insurance (56)
    • Pauper Expenditure in Metropoles since 1863. (68)
    • Labor of Superintendence (Venezuela) (38)
    • Bill for abolishing Houses unfit for human habitation. (70)
    • National Income. (Dudley Baxter) (26, 27)
    • State Revenue and its sources. (51, 52) The Succession Duties. (60)
  • 9) Miscellaneous.
    • Fires and Incendiarism. (58)
    • Council of Foreign Bondholders (49)
    • Conversion of Iron into steel. (46, 47, 49, 50, 54, 56)
    • Annual Rate of Mortality U. K. 1867 (60)
  • 10) Ireland.
    • Income Tax (39)
    • Emigration. Wages etc (67, 68)
    • Annual Report of Poor Law Commissioners 1852–1867 (74)

Inhalt:

  • Inhaltsverzeichnis von Friedrich Engels
  • 1869 I Heft
  • Money Market. 1868.
  • Money Market Review. Jahrgang 1868.
  • The Economist. Jahrgang 1868. Nachträge
    • The Economist. Jahrgang 1868.
    • Inhaltsregister für 1868 Jahrgang. („Money Market Review“ und „Economist“.)
    • Kommentar zu George Joachim Goschen
      • George J. Goschen: The Theory of the Foreign Exchange. 7th edit. London 1866.
      • Friedrich Ernst Feller, Carl Gustav Odermann: Das Ganze der kaufmännischen Arithmetik
      • Inhalt.