A
HISTORY OF COMMERCE

BY

CLIVE DAY, Ph.D.

KNOX PROFESSOR OF POLITICAL ECONOMYIN YALE UNIVERSITY

REVISED AND ENLARGED

LONGMANS, GREEN, AND CO.
55 FIFTH AVENUE, NEW YORK
39 PATERNOSTER ROW, LONDON
TORONTO, BOMBAY, CALCUTTA AND MADRAS
1925

Copyright, 1907, by
Longmans, Green, and Co.
Copyright, 1914, by
Longmans, Green, and Co.
Copyright, 1922, by
Longmans, Green, and Co.

First Edition, May, 1907
Reprinted, April, 1908; June, 1909; August, 1910
August, 1912
New Edition, June, 1914
Reprinted, February, 1916; April, 1917
August, 1919
September, 1920
August, 1921
New Edition thoroughly revised, September, 1922
Reprinted, February, 1923; January, 1924,
May, 1925

MADE IN THE UNITED STATES

To
E. L. D.

The year 1914 marks one of the great turning points inhistory. I have accordingly revised the part of this bookcovering the recent period to close the narrative at that date,and have added another part, covering the history of commercein the war and in the two or three years of peace immediatelyfollowing. The commerce of the great nations of the worldhas departed since 1914 far from its accustomed paths andforms. In my attempt to make intelligible the commercialchanges of the time I have had to take account of mattersin public finance, currency and foreign exchange which areusually treated apart from the history of international trade.I have thought it better, by touching on these outside subjects,to show the reasons for the course which commerce has followed,rather than to omit the reasons because they are hard for thestudent of the history of commerce to understand.

Clive Day

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