Saturday, June 8, 2013

Modern Economic Problems by Frank A. Fetter

Status: One Round of QC (06.08.2013)


Needs new scan:

26, 51, 80, 81, 87, 120, 124, 127, 131, 139, 146, 149, 178, 179, 181, 186, 194, 212, 216, 221, 230, 231, 238, 242, 248, 258, 259, 260, 262, 263, 267, 268, 327, 338, 344, 360, 363, 365, 366, 367, 368, 371, 375, 376, 402, 410, 411, 414, 423, 506, 510, 512, 513, 514, 524, 525, 526, 527, 528, 529, 531, 532, 534, 535, 537, 543, 545, 550, 551, 580, 592, 596, 597, 601

Not bad:

538, 549, 576, 579, 585

Fix Notes:

I changed the look of the copyright page to try to match the first Volume.

Page 22: par. 1: California

For some time after the discovery of gold in Calfornia, gold dust was roughly measured out on the thumb-nail.

Page 54: In the sections right below the Chapter: bimetallism

§ 10. Nature and object of bimetal-ism.

Page 81: par. 0: elementary

[...] mining to keep up the quantity of gold ought to be apparent to any one with the most elemetary understanding of monetary principles.

Page 94: par. 0: ability

The indispensable condition to the exercise of this function by a bank is public confidence in its abilty to fulfil its promise to pay whenever it is due.

Page 101: par. 2: inconvertible

In this view it is overlooked that bank-notes, unlike inconvertable paper money, depend for their value on the credit of the bank, not on their legal-tender quality and on political power.

Page 102: par. 1: predominant

The predominent opinion to-day is that in their economic nature bank-notes share to some extent the character both of private promissory notes and of political paper money.

Page 114: par. 2: manufacturing

Another aspect of this concentration of surplus money and available funds in the larger cities was the comparatively ample provision of banking facilities in the cities and in the manufacturng sections, and imperfect provision in the agricultural districts.

Page 125: par. 0: discount

Then the circulation might be doubled with the same reserves, the proportion thus falling to not less than 20 per cent of outstanding notes, and the rate of discout to customers rising to 13.5 per cent (5 plus 8.5).

Page 139: par. 0: wave-like

[...] in a wavelike manner, going through a somewhat regular series of changes that is called a business cycle.

Page 139: par. 1: precedes

What preceeds has not the appearance of disease, but rather that of exuberant health.

Page 141: par. 0: correspond

But the disturbances are so modified by the particular conditions (of crops, politics, and speculation) that the phenomena never corres-spond exactly in time of occurrence, in duration, or in intensity.

Page 175: par. 1: coöperators

The general plan and principles of local building and loan associations was extended in 1916 to groups of rural co-operators in the joint-stock land banks, enabling them to make loans to their members11; [...]

Page 237: par. 0: elementary

[...] the elemetary principles of foreign exchange is required, and to this we may now turn.

Page 241: Footnote 6 is also on page 235... all on this page until the end of the chapter should be one number higher.

Page 246: interference

§ 1. Military and political motives for inteference with trade.

Page 260: par. 2: monopoly

§ 11. Protection as a monoply measure.

Page 276: par. 0: divisions

The purposes for which the debts are incurred by specially organized districts are mainly indicated in the names (e. g., drainage, irrigation), while the regular political divisons of counties, cities, villages, towns, townships, incur debts for many objects, such as streets, sewage disposal, water supply, electric-light or gas plants, schoolhouses, libraries, and other public buildings.

Page 295: par. 2: products

Goods imported are taxed at the time of entering the country; domestic prod-ducts, such as cigars, spirituous or malt liquors, playing cards, [...]

Page 311: par. 0: distinction

[...] income of husband and wife living together (this distincton, it will be observed, offers a reward of $20 per annum to make marriage a failure).

Page 313: par. 2: administration

Before the adoption of the sixteenth amendment, the need for new revenue in the Taft adminstration led to the enactment, August 5, 1909, of an “excise tax” on corporations, measured by net profits within the taxing period.

Page 341: par. 1: eligible

The national organization was composed of local chapters, to membership in which every one was elegible excepting bankers, lawyers, gamblers, and saloon-keepers.

Page 394: par. 1: experiment

Great Britain, after some exexperiment with a local system, established in 1909 the first national system of “labor exchanges.”

Page 405: par. 0: companies

[...] gation of the business of the large industrial insurance com-ponies, that but 28 per cent of the premiums paid by employers were paid to workmen as indemnity.

Page 446: par. 1: campaign

Despite the fact that frequently in economic legislation the farmer has been the victim, every compaign orator admits that there is no other occupational class that is of greater importance to the nation than are the farmers, or more deserving of prosperity.

Page 462: par. 0: transferring

The greater ease of tranferring landed property in America and the greater mobility of our population have always made it more natural here than in Europe to look upon land as a capital investment.

Page 469: par. 1: coöperation (missing 'ö')

This type of producers’ selling coöperation is proving in America to be far more successful than producers’ co-operation among workingmen; [...]

This form of coöperation, with the related form of consumers’ co-operation that is fostered by it, promises to have a wide extension.

Page 472: par. 0: opportunities

[...] of better opportunties for credit in the agricultural districts was long recognized.

Page 473: par. 1: coöperation (missing 'ö')

These schools and meetings are helping, as are automobiles, good roads, telephones, rural free delivery, better schools, and an active rural press, to destroy the isolation of country life and to make farmers as a class more broadly educated, more co-operative and more public-spirited than the average urbanite.

Page 523: par. 0: coöperation (missing 'ö')

Yet there are some men interested in “large business” who look upon competition as bad, and upon monopoly as having essentially the nature of friendly co-operation.

Page 537: par. 1: Commision

The anti-trust legislation of 1914, passed by the Democratic party to carry out its program, is embodied in two acts: the Clayton Act and the Federal Trade Commision Act.

Page 550: par. 1: numerous

Civilized government requires the use of numer-out material agents to make possible the exercise even of the primary political functions.

Page 693: par. 1: non-existent (matching hyphenation in rest of the book)

But utopian (from utopia, Greek for no place) means nonexistent, and Marxian socialism surely was that.


Page 476, Figure 1 belongs in Chapter 28. I moved it to after Section 1 in Chapter 28.

Page 490, Figure 1 belongs in Chapter 29. I moved it to after Section 1 in Chapter 29.

Page 568 is missing the Caption/Figure information.

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