The Present and Future of the International Trade of the United States

Abstract

I. Unexampled excess of exports during 1915–19, 1. — II. Theoretical analysis of international lending and borrowing under ordinary conditions, 2. — Peculiar conditions in United States during the war, 3. — Influx of gold and rise in prices, 5. — All the transactions in substance were within the United States, 6. — An overturn inevitable, 7. — III. New stage of international payments and trade to be expected, 8. — Tourist expenditures, 9. — Immigrants' remittances, 9. — Freight charges, 10. — Interest account, 11. — Capital account, 12. — The general outcome, 13. — IV. The probable course of prices and money incomes, theoretical analysis, 14. — Extraordinarily rapid overturn, 17. — Relation to world price level, 19. — Probable maintenance of gold standard and resumption of special payments, 20. — Conclusion, 20.