Spread of Raiffeisen type to the Orient, 484. — Famine the impetus to the movement in China, 485. — The model constitution of 1923, 486. — The Central Bank and its policy, 487. — Its educational activities, 489. — Credit unions, 491. — Growth of coöperatives, 491. — Status and purpose of loans, 492. — Comparative cost of loans, 495. — The outlook, 496.
I. Introduction. Three concepts of velocity defined. — Various senses in which the term price level is used, 36. — II. Turnover of Media. Use of the turnover concept by Irving Fisher, J. M. Keynes, and R. G. Hawtrey, 37. — The neutralization of changes in turnover of media by changes in turnover of commodities, services, and securities, 44. — Support for this a priori contention found in the statistical studies of Carl Snyder, 48. — III. The Balance Concept of Velocity. Use of the concept by Irving Fisher, J. M. Keynes, and R. G. Hawtrey, 52. — Objections to the use of the concept, 55. — IV. The Expenditure Ratio. The relative merits of the expenditure ratio concept and the balance concept, 59. — The probability of the practical occurrence of changes in the expenditure ratio, 61. — Antithetical movements of consumers' and the business expenditure ratio, 63. — Exact neutralization of changes in expenditure ratios by changes in the other factors of the equation possible but improbable, 65.
I. The argument that labor-saving improvements release purchasing power and so reabsorb displaced labor, 684.— The fallacy in this argument, 686.— Circumstances under which the displaced labor will be reabsorbed, 687.— II. Effect of price reduction, 688; of restrictions upon credit and wage rates, 690.— III. Effect of price maintenance, 692; of lower interest rates, 693.— IV. The effect of universal monopoly upon unemployment, 696.— Quasi-monopoly control of prices contrasted with rigid control of wage-rates, 697.
The purpose of the elementary accounting courses given at the Chicago, Illinois-based University of Illinois is to give the students a thorough knowledge of basic transactions and fundamental procedure. Much of the material given in elementary accounting course can be disregarded when an examination is prepared because it represents routine work. Subjects such as, the classification of accounts, the preparation of short financial statements, adjusting entries, closing of the ledger, and books of original entry are included in the first-semester examination. The second-semester course is devoted more to accounting procedure and so for this reason the final examination given in the second semester may be counted upon to have a large number of difficult journal entries covering a wide variety of transactions. The examination for the second semester may include problems such as requiring adjusting entries, where the amount must be calculated as well as entries formulated, requiring the opening of the books of a corporation, or requiring the changing of a single proprietorship or partnership.
Early history of the industry in Europe, 589.— Growth in the United States since 1911; the American Viscose Company the leading producer, 590. — The technical processes, 592. — Steady improvement of rayon quality, 593.—Protection and its proximate results, 597.—Failures and successes, 600.— Advance in comparative effectiveness, 603.— Costs abroad and at home, 604.—Extraordinary profits, 608.—Domestic and foreign prices, 610.—Duopoly; international ramifications and combinations, 614.— Summary on tariff effects, 617.— The future, 619.
I. Scope of the treatise, 547.—II. The theory of prices; the equations of exchange; relation between investment and saving, 549.— Does it solve the “dilemma” of the “over-savings” theories? 553. — Specific maladjustments, 555.— Profit versus anticipated profit, 556.— III. The money mechanism. Distinction between income and savings deposits; treatment of demand and time deposits, 558. The problem of business deposits, 560. Security booms and deposits; does speculation tie up credit? 567.—IV. Bank control of prices, 573. Bank rate and investment, 575.— Market rate and “natural rate,” 578. Bank control and the major depressions: the nineties, 581; — England since the war, 583; — the current depression, 584.— Bank control by action “in advance,” 584.— External versus internal stability, 586.