Chapter XIV

. Of International Values.

§ 1. The values of imported commodities depend on the Terms of international interchange. § 2. The values of foreign commodities depend, not upon Cost of Production, but upon Reciprocal Demand and Supply. § 3. —As illustrated by trade in cloth and linen between England and Germany. § 4. The conclusion states in the Equation of International Demand. § 5. The cost to a country of its imports depends not only on the ratio of exchange, but on the efficiency of its labor.

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