Chapter 26 of 98 · 115 words · ~1 min read

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.

§ 1. Money imported on two modes; as a Commodity, and as a medium of Exchange. § 2. As a commodity, it obeys the same laws of Value as other imported Commodities.