Rate

“ The normal rate seems to refer to the actual conditions of industry, the rate which can be obtained for a given amount of exertion, taking the average of employments at the time, rather than to the particular rate obtained for some class of work over a period of years. ”

“ The rate of wages, whether measured in money or in the real remuneration of the laborer, affords an approximate criterion of the cost of production,365 either of money, or of the commodities that enter into the laborer's real remuneration, but in a sense the inverse of that in which it is understood in the argument under consideration: in other words, a high rate of wages indicates not a high but a low cost of production.366 ... ”

“ Much study and effort to reduce all the conditions under which assets depreciate to a common basis and so to a definitely stated rate for each set of conditions, have, so far, come to naught and all qualified experts say without reserve that the rate of depreciation is an individual problem. ”

“ What would be the consequence of this difference in the rates of profit for capitals employed in the different branches of industry? Why, the consequence that generally obtains whenever, from whatever reason, the average rate of profit comes to differ in the different spheres of production. ”

“ The ratio between the price which he has to pay for these means of production, and the produce which they enable him to raise, is the rate of his profit. If he must give for labour and tools four-fifths of what they will produce, the remaining fifth will constitute his profit, and will give him a rate of one in four, or twenty-five per cent, on his outlay. ”

“ There are thousands of occupations of various kinds, and at first sight it may seem impossible to determine, in a manner sufficiently accurate for any useful purpose, an average or general rate of wages, especially if we attempt to take real and not merely nominal wages. At the same time, in estimating the progress of the working-classes, or in comparing their relative positions in different countries, it is necessary to use this conception of a general rate of wages in a practical manner. ”

“ But in reality none of the ingredients of natural or money price are given, excepting the natural value of labour, and consequently the money prices of commodities which regulate the ordinary rate at which different countries exchange their commodities with each other, will be determined partly by the quantity of labour employed upon them, partly by the ordinary rate of profits, and partly by the value of money. ”

“ When a through rate is made by combination of rates for intermediate distances, the rate for the later link in the shipment is, when lower than the local, spoken of as a proportional rate.' Atchison, T. & S.F.R. v. ”

“ The analysis of the principles of valuation for rate-making is the most complete, most closely reasoned, and altogether the best general exposition of the subject extant. The most important contribution of the work is its criticism of the practices of valuation. ”

“ Where a rate has been established and maintained for a considerable period, for the purpose of developing a particular industry, and with full knowledge that the industry could not be developed without it, and where, under the influence of such rate, large amounts of money have been invested in property the value of which must be seriously impaired by an advance of the rate, that fact is an important consideration in passing upon the reasonableness of such advance. ”

“ It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce. ”

“ Rate regulation can well be confined to rates in the aggregate, rate-making applies to the adjustment of individual rates, and must necessarily be the work of men well versed in all the varied elements which control it and the particular conditions affecting the business of each particular road. ”

“ In making the rates, all articles of commerce are divided into several classes, and a certain standard rate per hundred pounds of each class is fixed between two important points, as New York and Chicago. ”

“ Multiply the sum by 100, and divide the product by 100 increased by the product of the rate per cent and number of years. If the time that the debt has yet to run be expressed in years and months, or months only, the months must be reduced to the equivalent fraction of a year. ”

“ If the income distribution remains the same (all incomes grow with the same rate) then also the average income, y = W grows at the same rate, and then also the net income distribution remains the same, and then the ratio of net average to subsistence remains the same too. ”

“ A long series, even a perpetual series, may be exchanged for no more than ten, twenty, or twenty-five annual rents. While therefore the selling value of the good is the sum of the values of the rents, it evidently is that sum discounted. Immediately, when we have reached this point in the reasoning, our proposition must suggest itself as self-evidently true in this form: the value of any good is the sum of the entire series of rents it contains, discounted, at some rate, to their present worth. What determines the rate of discount is a question that will call later for a fuller explanation. ”

“ Thus the question in a valuation for rate making is how much a utility will be allowed to earn. The basic question in a valuation for reorganization purposes is how much the enterprise in all probability can earn.' Institutional Investors v. ”

“ Every day I am more satisfied that the former enquiry is vain and delusive, and the latter only the true object of the science. You say that my proposition, 'that with few exceptions the quantity of [Pg 176] labour employed on commodities determines the rate at which they will exchange for each other, is not well founded.' I acknowledge that it is not rigidly true, but I say that it is the nearest approximation to truth, as a rule for measuring relative value, of any I have ever heard. ”

“ At certain times and in certain businesses the prevailing rate of exchange on the actual day, or the monthly average of daily rates, may need to be used to secure satisfactory results. With the use of the fixed average rate, as above, the totals of foreign sales and sales returns journals are converted into home currency and carried respectively as debits and credits to Accounts Receivable control, and credits and debits to Sales. ”

“ It seems to be felt that it is not rate hut change of rate that deranges business relations, and thus injures industry; and this consciousness, however ill-defined, by its tendency towards constancy of rate, will ultimetely lead to the truth in regard to money. The truth is, that value exists only in persons—that therefore the unit of population is the unit of value—that this unit may be represented, and that its representative is the money unit. ”

“ Whether a bank lent one million, ten millions, or a hundred millions, they would not permanently alter the market rate of interest; they would alter only the value of the money which they thus issued. ”

“ If we divide the year's expenditures, E, by the average amount of money, M, we shall obtain what is called the average rate of turnover of money in its exchange for goods, E/M, that is, the velocity of circulation of money.*16 This velocity may be denoted by V, so that E/M = V; then E may be expressed as MV. In words: the total circulation of money in the sense of money expended is equal to the total money in circulation multiplied by its velocity of circulation or turnover. E or MV, therefore, expresses the money side of the equation of exchange. ”

“ The variation in the value of money, however great, makes no difference in the rate of profits; ”

“ In all the different employments of stock, the ordinary rate of profit varies more or less with the certainty or uncertainty of the returns. ”

“ If you are spending money, and the amount you spend in a short time be called , the rate of spending it will be , or rather, should be written with a minus sign, as , because is a decrement, not an increment. But money is not a good example for the calculus, because it generally comes and goes by jumps, not by a continuous flow–you may earn £ a year, but it does not keep running in all day long in a thin stream ”

“ As the rate of wages is itself fluctuating, and as the prices paid and quantities executed have been given only between certain limits, it is not to be expected that this table can represent the cost of each part of the work with the minutest accuracy, nor even that it shall accord perfectly with the prices above given: but it has been drawn up with some care, and will be quite sufficient to serve as the basis of those reasonings which it is meant to illustrate. ”

“ What is true, however, is that a falling rate is to be expected, that this fact acts as a stimulus for saving in the case of the more far-sighted classes, and that the number of persons in these classes is increasing. ”

“ The establishment of a rate for a regulated industry often involves two steps of different character, one of which may appropriately precede the other. The first is the adjustment of the general revenue level to the demands of a fair return. ”

“ No uniform or secular tendency to reduction in the average rate of interest, which is the index of the average productiveness of capital, not of its amount, can be found to have prevailed. Fluctuations in the average rate are found, quite independent of the local and temporary fluctuations, which are often extreme ”

“ Thus, suppose that a workman spends at the rate of $1 a day and receives at the average rate of $1 a day. The average amount that he will require to keep on hand will be less if his receipts occur once every fortnight than if they occur at intervals of three weeks and one week respectively in alternation. ”

“ Some authorities maintain that the income from a penny rate can only represent the net sum realized by a penny on the rateable value, after all deductions have been made on account of empty houses and other irrecoverable items. ”

“ For the determination of individual rates local conditions are always the controlling factor. An illustration in point is given by Henry Floy, [28] showing the varying rates used by thirty-one different concerns for the depreciation of their rolling stock equipment. The methods vary in almost every case, comprising annual charges of an arbitrary amount, per cent of the original cost, cents per car mile, arbitrary deductions from income irregularly applied, per cent of gross earnings, per cent of present estimated values. ”

“ This curve expresses, in terms of value, the idea of proportionality which is an essential part of the quantity theory. Put in terms of the money market, we have a demand-curve for money, not for the long-time possession of money, but for its temporary use—a rental, rather than a capital value, is expressed in the price which this curve helps to determine. This curve is highly elastic. When money-rates are low, transactions will be undertaken which will not be undertaken when the rate is a little higher. ”

“ Skill must be therefore directed to the object of so using coins that they may quickly effect their object of measuring one value, and be set to work to measure another—that they may be turned over as many times as possible in the year, in order that the amount of labour measured by each coin may be as large as possible, and thus the amount represented by interest on the coins borrowed, though paid at the normal or usual rate, shall bear as small a proportion as possible to the amount paid to labour. ”

“ As time passes, more complete knowledge may indicate insufficient or excessive estimates of such items as depreciation, bad debts, provision for contingent liabilities, and similar reserve items, the valuation of which must be corrected for an accurate showing of earning capacity. Thus a distinction must be made between summaries compiled to show the current profit and loss results and those which give a true index of earning capacity over a longer period. ”

“ A. The rates of duty in rate columns numbered 1 and 2 for items 155.20 and 155.30 of Subpart A, Part 10, Schedule 1 of the TSUS, are modified, and the following rates are established:
155.20 ..... 2.98125 cents per lb. less 0.0421875 cents per lb. for each degree under 100 degrees (and fractions of a degree in proportion) but not less than 1.9265625 cents per lb. ”

“ The full statement of these facts, made in graphic form, shows an ascending line of density of population, as we proceed from left to right, an ascending line of price for raw produce, a descending line of price for highly wrought merchandise, and descending lines for wages and interest. All these lines represent the facts in a broadly general way. They deal with averages and not with particular rates. The labor whose earning power descends along the line numbered 5 is of many kinds, and the produce of which the average values vary along the lines numbered 2 and 4 is of many varieties. ”

“ N. B.—The above are the average rates of each class of men as detailed, and the rates given are the amount paid in pence and in fractions or decimals of pence per hour. Fifty-one hours constitute a working week. ”

“ The proportion consecrated may be a certain ratio of income fixed on a sliding scale, on the principle that the greater the profits, the greater the proportion which me be spared. For instance, on the first day of each week, or month, or quarter, or year, one may consecrate a certain proportion of his profits of that week, month, quarter, or year to the Lord, say five, eight, or ten per cent., in case they rise to a specified amount ”

“ In case of important elements which were to enter into a number of rates, a large number of observations were taken when practicable on different first-class men, and at different times, and they were averaged. ”

“ The question of rates is a practical question, to be governed by the conditions of the time and of production; the ruling and uncompromising principle is the protection and development of American labor and industry. ”