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But the better parts of the South, the tobacco and cotton belts, with their annual output of three hundred millions' worth of exportable commodities, their high-strung, well-bred gentry accustomed to outdoor life and horseback riding and devoted to the idea of local autonomy in government, were behind the Confederate movement.
If France and Italy are to make good their own deficiencies in coal from the output of Germany, then Northern Europe, Switzerland, and Austria, which previously drew their coal in large part from Germany's exportable surplus, must be starved of their supplies. Before the war 13,600,000 tons of Germany's coal exports went to Austria-Hungary.
The equilibrium of exports and imports would only be restored, when either some of the latter became so dear that we could produce them cheaper at home, or some articles not previously exported became exportable from the fall of prices. In the one case, we lose the benefit of importation altogether, and are obliged to produce at home, at a greater cost.
Soon after that date the development of the Bayer plant made her independent in that product, and gave her, in fact, an exportable surplus. War Activities of the I.G. Reviewing all these activities and realising how they all emanate from this one organisation, we are overwhelmed by its formidable nature as an offensive and defensive weapon in time of war.
M'Arthur for the possession of an exportable commodity which has contributed very materially to its present wealth and importance. Such general attention is now paid to this interesting branch of rural economy, that the importation of wool into England from our Australian colonies, amounted, in 1832, to 10,633 bales, or 2,500,000 lbs.
Russian capitalism is far more "Anglo-Saxon" than Old Europe's. The Federation has an educated but cheap and abundant labor force, a patchy welfare state, exportable natural endowments, a low tax burden and a pressing need for unhindered inflows of foreign investment. Russia's only hope of steady economic growth is the expansion of its energy behemoths abroad.
Whereas before the war Germany produced 85 per cent of the total food consumed by her inhabitants, the productivity of the soil is now diminished by 40 per cent and the effective quality of the live-stock by 55 per cent. Of the European countries which formerly possessed a large exportable surplus, Russia, as much by reason of deficient transport as of diminished output, may herself starve.
The Soviet Union must realize that its decision to use military force in Afghanistan will be costly to every political and economic relationship it values. The region which is now threatened by Soviet troops in Afghanistan is of great strategic importance: It contains more than two-thirds of the world's exportable oil.
As lately as 1890 Europe had a population three times that of North and South America added together. But by 1914 the domestic requirements of the United States for wheat were approaching their production, and the date was evidently near when there would be an exportable surplus only in years of exceptionally favorable harvest.
I have now, I trust, in this and the preceding chapters explained with sufficient minuteness the nature and extent of the commercial connection which at present prevails, and has long subsisted, between the negro natives of those parts of Africa which I visited and the nations of Europe; and it appears that slaves, gold, and ivory, together with the few articles enumerated in the beginning of my work viz., bees' wax and honey, hides, gums, and dye-woods constitute the whole catalogue of exportable commodities.
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