Knowledge that Transforms

The sequence of events leading up to a crisis, 95. — Interest as a factor in cost of production, 96. — A comparison of interest rates and commodity prices, 97. — Two-fold demand for loans causes rapid rise of interest, 98. — Increase in profits due to lagging behind of cost of production, 101. — Disappearance of profits due to increased cost of production, 102. — No automatic check to prosperity in rise of virtual interest rates, 104.

Introduction, 444. — Period I. Organization of the first combination in the explosives trade, 445. — The Council, 446. — Compacts with the California Powder Works, 447. — Amendment of the Articles of Association, 448. — The Agreement of 1886, 450. — Fundamental Agreement of 1889, 452. — Period II. Competition between 1890 and 1894, 454. — Revision of the Fundamental Agreement, 456. — The "Understanding" of 1896, 456. — Advance in the prices of powder subsequent to 1896, 457. — Contests against new competitors, 459. — Miscellaneous agreements looking to more complete control, 460. — Early combination in the Dynamite Trade, 462. — Acquisitions of the Eastern Dynamite Company, 465. — Origin of the European Agreement, 465. — Its terms, 466. — The Mexican Agreement, 467. — Period III. The organization of E. I. du Pont de Nemours and Company, Delaware Corporation of 1902, 470. — Relation of E. I. du Pont de Nemours and Company and Laflin and Rand to subsidiaries, 471. — Option upon Laflin and Rand, 472. — The Delaware Securities Company, 472. — The Delaware Investment Company, 473. — Relations of the Companies outside of the combination, 474. — E. I. du Pont de Nemours and Company of Pennsylvania, 475. — The California Investment Company, 476. — International Smokeless Powder and Chemical Company, 477. — Percentage of control exercised, 478. — Prices, 478. — Dissolution of subsidiaries, 479. — Decision of the Circuit Court, 480.

I. The Electric Lamp Combination; relation to General Electrical Company, 594. — Control of tantalum and tungsten filaments, 600. — Circuit Court decree of 1911, 601. — II. The Keystone Watch Case Company, 602. — Methods of destroying competition, 607. — III. The United Shoe Machinery Company, 608. — IV. The Consolidation Coal Company; how related to Baltimore & Ohio Railroad, 613. — V. The Bath Tub Pool, 617. — Control of the jobbing trade, 623. — VI. The Cash Register Company, 625. — Deliberate destructive competition, 626. — VII. Combination of Wholesale and Retail Dealers, 630. — Michigan lumber retailers, 632. — Other lumber retailers, 634. — Wholesale lumber dealers, 637. — Pacific Coast jobbers of plumbing supplies, 640. — Southern Wholesale Grocers' Association, 641. — VIII. Conclusion, 642.

I. Extent of Rise in Price of Silver, 216. — High price in 1905–07, 218. — Peculiarities of the silver market, 219. — Causes of rise in price; the supply, 220. — The demand, for industrial uses, outside India, 222. — The industrial consumption in India, 224. — The monetary demand, for fiduciary coins, 226. — Germany, 227; France, 228; England, 229; United States, 229. — The heavy Indian monetary demand, 230. — The reserves built up by the Indian Government, 232. — Silver standard countries, 234. — How far the rise in silver was a part of the depreciation of gold, 237. — Prices and index numbers, 238. — II. Influences of the rise in price of silver on monetary systems, 239. — The Philippines; difficulties from higher price of silver, 240. — The export point of bullion, 241. — Export of coins, 242.— Prohibition of export in 1905, 244. — Other measures, 246. — Recoinage in 1906–07, with lowered silver content, 248. — Success of the measure, 252. — The Straits Settlements; gold standard in 1906, 254. — Straits silver dollar in danger of exportation; measures to prevent, 256. — Recoinage, 258. — Gold-exchange standard adopted, 260. — Japan; gold standard since 1897, 261. — Prompt recoinage of silver, 262. — Mexico's fortunate experience, 263. — Gold standard plan of 1903, 264. — Adopted in 1905, 267. — At first, export of old silver dollars by Government Commission, 269. — Rapid recoinage into new dollars, 271. — Gold certificates, 272. — Success of the operation, 273.

Twenty-five years ago, little expectation of the growth of a beet-sugar industry, 189. — Great growth since 1890, 191. — Concentration in the far West, 193. — Climatic advantages of the arid region, 195. — Intensive cultivation required, 197. — A large labor supply needed; an agricultural proletariat? 199. — The sugar manufacturers active in procuring the labor, 202. — Little beet sugar in the Central West, 203. — The explanation is in the principle of comparative cost: corn is more profitable, 204. — The situation in Michigan, 207. — The beet-sugar manufactories, 208. — Can the argument for protection to young industries be advanced? 212.

Lack of systematic study of market distribution. Emphasis on production explained by economic causes. Importance of a better organization of market distribution, 703. — Complexity of the problem facing the distributer. Consumer's surplus. Bearing on the distributer's problem, 707. — Selling at the market minus, selling at the market, and selling at the market plus, 712. — Social justification of the differentiation of commodities: Importance of trade-marking, 718. — Methods of sale: sale in bulk; sale by sample; sale by description, 721. — Available agencies for selling: middlemen, producers' salesmen, and advertising, direct and general, 723. — Emergence and rise in importance of the middleman. Modern tendency to decrease number of successive middlemen, 725. — Analysis of the functions of the middleman: sharing the risk, transporting the goods, financing the operations, selling or communication of ideas about the goods, and assembling, assorting, and re-shipping. Development of functional middlemen. Advantages of direct selling in some industries. Present day importance of the direct selling in some industries. Present day importance of the middleman, 731. — The producer's salesman as an agency in distribution, 740. — Advertising as an agency in distribution: relation to sale by description; relation to trade-marking; analysis of classes of demand created by advertising, 742. — Social waste in distribution. Practical problem of distributer, 746. — Analysis of market into geographic sections and economic and social strata, 749. — Laboratory study of distribution, 754. — Wide application of such method of study, 758. — Possibility of better organization of distribution, 763.