chapter  Chapter II
25 Pages

Agriculture, 1 Manufacture, and Commerce

ByRobert E. Wright, Richard Sylla

The several groups or trades taking part in a process work in succession on goods before they can reach completion. Producers under the more favourable circumstances are enabled to transact business with smaller quantities of yarn, cotton, and calico—in other words, with smaller dead stocks—which they ‘turn over’ frequently, that is, they replace them as soon as disposed of with others. The entire business operations of any particular trade of the series are shown to resolve themselves into moving stock forward a stage nearer completion, receiving in return for the stock thus disposed of, firstly, another in a like stage of advancement to the one sold when it came to hand in the first instance; and secondly, a share of the goods which have reached the finished state. Speculative dealings in commodities tend to lessen variations in prices, and therefore in the distribution of money between trades and industries.