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45 2 INDEX
Protectionist vidories and Free of Commoditie: since 1873,"
Trade successes [1897 ]-contd. 156.
Explanations and defin/Hong, 157.
protective, but for revenue pur· ypnsideration of the signs of ap·
poses, 181-182. U preciation or depreciation in an
Successes 'on the side of Free advancing community 8' dis.lin-
Trade: . Ftee Trade more preva- guished from a stationary com·
lent in the world than generally munity, 159.
supposed, and much of it of re- Purchasing power of money, 160-
cent growth, J82. 163.
I. The success of Free Trade Appreciation of gold: reference to
was so great in England, that former papers, and inquiry'
many countries had to adopt it whether tbe suggestion there
out of necessity, J8z- thrown out has since been con·
z. The Cobden Treaty of J860 has firmed by the facts, and in what
!lever really been reversed. Ex- sense there has been apprecia-
isting tariffs cannot compare with tion of gold in recent years, 164'
those of pre-Cobden period, 183. In·
3. Growth of large communities De~ee and character of apprecia.
itself a triumph of Free Trade, tIon: the rise in the purcbasing
as within their respective bound- power of gold measured by com·
aries, petty restrictions on trade modities being established. it reo
have been abolished, 183' mains for consideration to which
4. Free Trade can claim on its of the types described in our pre·
behalf those scientific inven- liminary remarks this appreciation
tions which have facilitated com- belongs; and whether it is an ap·
munication and cheapened pro- preciation in which the income
duction, 184. per head of the community, and
S. Rapid growth of certain foreign the earnings per head of the wage
countries will in time force them earners, diminish: an apprecia-
to adopt free trade, I8S. tion in which the aggregate in-
Future of the United States: come of the whole community
opinion of Mr. Taussig as to diminishes, or a case where in·
lessening effects' of protection and comes remain stationary although
its probable decay, I8S·I87. commodities fall, 174-189.
Facts on the side of Free Trade, TaMe A. Prices of leading whole-
187-188. sale commodities in January,
1873, 1879, 1883. and 1885,
PURCHASING power of money, i. and December, 1888, compared,
160. d~ .
-- B. Comparison of the index
RAlLWAVS, premature construc- numbers of the .. Economist,"
Mr. Sauerbeck, Board of Trade
tion of, abroad, i. 104. import and export prices, Dr.
-- State purchase of, i. 252. Soetbeer, and an American index
RATES, increase of, less than in- number, 168.
crease of value of real property, -- C. Average imports per heag
i.261 •. and total imports and exports pet
head of the popUlation of the
-- increase of, mostly for im- United Kingdom in the under-
provements, i. 264. mentioned quinquennial periods;
RATIO of silver to gold, 1500 to also showing percentage mcrease
or decreases, 172.
1888, i. 226. -- D. Statement of gross amolffit
Recent Changes in Prius and In- of profits assessed to income tax (
comes compared [1888], i. 156- per head irfundermentioned quin-
228. ( .. - quennial periods, 173.
E. Comparisoll of wages rates
Preliminary: referenc~ to his paper published in the second report of
in 1879 on "The Fall of Prices the labour correspondent of the