World market

“ The same is true of established market places, boards of trade and produce exchanges. Not only does the multitude of exchanges in one place lessen the cost of such exchanges, but these make it possible for multitudes to reach a fair understanding of what is wanted and what is offered in any line of production. This need accounts for the tendency so frequently noticed to establish great centers of trade in particular commodities. The world wants a fair understanding of what the world contains, and these methods of bringing together buyers and sellers are the natural outgrowth of this need. ”

“ The American mechanic already has a market of sixty millions of people, and, as I said before, the best market in the world. This country is now so rich, so prosperous, that it is the greatest market of the earth, even for luxuries. ”

“ But if any of our people are sighing for a foreign market, and value it more highly than our own, they can import foreign raw material practically free of duty, and after advancing it into the higher forms of manufacture, can go out and possess the world’s markets. ”

“ That competition we have to meet, not only in the countries mentioned, but in all countries where we meet them on equal terms; to meet such competition we must be able to produce more cheaply and a better article than others do, and we must safeguard our position as the world's bankers and carriers, as well as the position of our manufacturers. ”

“ The total supply of accumulated wealth of the whole civilized world is engaged in this competition, and the millions of wealth which are added every day are new contestants in the market. Competition in other products is held in local bounds by the cost of shipment over long distances ”

“ For generations, our Nation's free enterprise system has provided consumers an unparalleled selection of high quality goods and services, as well as ample opportunities for earning, spending, and investing personal income. Now, as more and more countries around the world adopt market-oriented economies, thereby expanding global trade and commerce, consumers stand to benefit from an ever wider array of options. ”

“ Commerce Brings the World Together
Thus the world’s commerce develops, and that which is accomplished by market traffic in lesser districts is brought about by the concentrative influence of bourses, or exchanges, in the broadest spheres. Here, as in the smaller markets, the tendency is for all prices to seek a level, to become as independent as possible of individual conditions; and so commerce between nations, and the possibility of ordering goods from the most distant lands, bring with them an adjustment: world prices are formed ”

“ The state of the whole commercial world can seldom be much affected by the improvement of any particular country; and the market for such commodities may remain the same, or very nearly the same, after such improvements, as before. ”

“ If we possess ourselves these facilities of rapid, regular, and reliable information to an extent that no other nation does, we will be the first to reach the foreign market with our supplies, [Pg 28] the first to bring the foreign article into the markets of the world, and the proper recipients of the first and largest profits of the cream of the trade of every land. ”

“ Every one was honestly busy in learning either how to make or how to sell, and in conquering the difficulties that beset traders as they strove to push their way into the world’s market on equal or, if possible, more than equal terms with competitors who had long held unquestioned supremacy. ”

“ As products made in this country compete successfully in world markets, we contribute to the strength and stability of our dollar, the expansion of our industry and fuller employment of our labor force. ”

“ The cheapness of the labour has led many energetic commercial men possessing capital, to do a great deal in the way of organising the trade of the various industries, and so the work which at one time was only produced to supply local requirements, now, thanks to the system introduced by large dealers, agents and others, the great world markets have been opened up for the products of our home industries. ”

“ Secure in the great American market for our manufactures—a market the best per capita of any in the world—we have come now to believe that we may well extend our trade and send our manufactured products to other countries across the seas and in ships carrying the American flag. ”

“ This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, an equitable distribution of income, comfortable living standards, a stable currency, a stable political system, and high dependence on foreign trade. ”

“ It is quite clear to my mind that the effect of our large foreign trade has been distinctly in the direction of lowering the value of money in our market, and consequently an undoubted aid to our industries. ”

“ The manner in which the wealth created by the toiling millions, passed through the channels of trade, into the possession of a few wealthy speculators, was illustrated by pictures and printed explanations, in almost endless variety, so that even the most obtuse observers, could not fail to get a clear idea of the practical workings of a system of commercial exchange, under the operation of which, interest, profit and rent were always added to the market price of the product, every time it changed hands. ”

“ The modern history of capital dates from the creation in the 16th century of a world-embracing commerce and a world-embracing market. ”

“ Purchase British articles with British articles, and you create two such aggregate values, and two such markets for British industry. Whereas, on the contrary, the entire value of every foreign article imported is net income to the foreigner and sustains foreign markets. Purchase foreign articles with British articles, and you only create one value for your own benefit instead of creating two, and only one market for British industry instead of two. ”

“ The vulgar theory disregards this benefit, and deems the advantage of commerce to reside in the exports: as if not what a country obtains, but what it parts with, by its foreign trade, was supposed to constitute the gain to it. An extended market for its produce—an abundant consumption for its goods—a vent for its surplus—are the phrases by which it has been customary to designate the uses and recommendations of commerce with foreign countries. ”

“ They keep their fingers on the pulse of trade, know mine outputs, crop prospects, cattle productions, stability of governments, possibilities of revolutions or political unrest, the condition of business—in a word everything that has any bearing on banking or that could by any possibility reflect on the money market. ”

“ The market-in its narrow sense as transaction, and as a sign process joining structure and dynamics-focuses all that pertains to the relation between the individual and the social environment: language, customs, mores, knowledge, technology, images, sounds, odors, etc. Through the market, economies are ascertained or subjected to painful restructuring. Recent years brought with them turmoil and economic opportunity as an expression of new pragmatic characteristics. Competition, specialization, cooperation, were all intensified. ”

“ The constant view of such companies is always to raise the rate of their own profit as high as they can; to keep the market, both for the goods which they export, and for those which they import, as much understocked as they can; which can be done only by restraining the competition, or by discouraging new [Pg 309] adventurers from entering into the trade. ”

“ While theoretical economists abroad, of course, applaud every movement in the economic policy of the United States which they consider as emanating from sound principles, I know, from personal observation, that European manufacturers who understand their business look forward with grave apprehension to the time when American industry will be relieved of the clogs which now hamper it and enter the markets of the world to compete with them. ”

“ But it may be said without fear of contradiction378 that when a great nation like ours, in which the spirit of enterprise is manifest, has reached the point where its own domain has been developed, when it has perfected a sound banking and currency system, when it has recovered its lost shipping and mastered those economic lessons that the future has in store, it may confidently be expected to push out into new lands and supply their demands for capital.
Already we have in America a world’s storehouse of necessary commodities, with wealth and intelligence that increases by leaps and bounds. ”

“ We hold by this proposition, well understood and energetically supported in America, that "when a nation makes a market at home for nearly all its products, other nations have to come and seek what they require, and pay the highest price; and that, when it does not make a market at home, markets must be sought abroad, and then sales must be made at the lowest prices." ”

“ But in addition to the amount of foreign money thus employed in these bills of exchange, our vast foreign trade must result in the temporary employment here of the proceeds either of these bills or of goods sold in our market, to be used in the purchase of goods here, for investment, or for safe-keeping in time of trouble, and must greatly add to our available resources. ”

“ Their invariable object in trade, is to acquire sudden wealth by large profit; and if that cannot be done, they abandon the pursuit for some new project. Certain of the market, and certain of the increasing supply, they will prescribe the price, both to those who cultivate, and to those who consume. ”

“ The anomalous state of the Money Market proceeds, we believe, from a redundancy, not of mere paper, but of capital which cannot find investment, superinduced by stagnation of trade, and the want of commercial enterprise, occasioned by the restrictive nature of our duties on imports.—Morning Chronicle.
The accounts from the United States mention that the greatest activity prevails among the manufacturers in their purchases of the raw material for the year's consumption. ”

“ I do not doubt that a very largely increased foreign trade is accessible to us without bartering for it either our home market for such products of the farm and shop as our own people can supply or the wages of our working people. ”

“ The merchant, in order to save a second loading and unloading, endeavours always to sell in the home market, as much of the goods of all those different countries as he can; and thus, so far as he can, to convert his carrying trade into a foreign trade of consumption. ”

“ If from investigation it appears that there is a market for one’s goods in any section or universally, that quality and prices can be such as to make competition favorable, that the market can be enlarged, or should there be none that one can be created, and a determination is therefore formed to enter export trade, the next question is how the goods shall be sold. ”

“ So far as I know, there is not in history record of anything so disgraceful to the human intellect as the modern idea that the commercial text, "Buy in the cheapest market and sell in the dearest," represents, or under any circumstances could represent, an available principle of national economy. ”

“ Even if foreign markets were freely and widely open to the reception of our agricultural produce, from its bulky nature, and the distance of the interior, and the dangers of the ocean, large portions of it could never profitably reach the foreign market. ”

“ Market prices of products and of securities are hourly known in every commercial market, and the investments of people extend beyond their own national boundaries into the remotest parts of the earth. ”

“ That the free and open market, in which all honest money and all honest commodities are free to be given and received in exchange for each other, is the true, final, absolute, and only test of the true and natural market value of all money, as of all the other commodities that are bought and sold for money. ”

“ The market price will sink more or less below the natural price, according as the greatness of the excess increases more or less the competition of the sellers, or according as it happens to be more or less important to them to get immediately rid of the commodity. ”

“ Operating at an assured profit they were able to learn the markets without the long and discouraging fight which would have been necessary had the competitive power of the other nations been at full force. If, as seems likely, the economic forces which projected the United States so suddenly and dramatically into the world’s markets shall continue to operate, then the future will see a further development of our sales. ”

“ The importance of our remaining the principal market for foreign investments of all kinds cannot be overrated, and I shall refer to this point again when we come to consider the question of balance of trade, perhaps the most difficult question we have to deal with to-night, and one of the most important, in considering Foreign Trade and the Money Market. For it is only through the action of the money market that this balance of trade adjusts itself. ”

“ Equally important is it to provide at home a market for our raw materials, as by extending the competition it will enhance the price and protect the cultivator against the casualties incident to foreign markets. ”

“ The flow of capital into businesses yielding the largest returns; the buying in the cheapest market and selling in the dearest; the introduction of more economical modes of manufacture; the development of better agencies for distribution; and all those variations in the currents of trade that are noted in our newspapers and telegrams from hour to hour; exhibit movement taking place in directions where it is met by the smallest total of opposing forces. ”

“ Here’s the truth about today’s economy: if we’re serious about fighting for American jobs and American businesses, one of the most important things we can do is open up more markets to American goods around the world. ”