INDEX

Commodity interest, 164-165,179-182, 190-192.

Comparative advantage principle,175.

Comparative advantages, methodof, gives maximum presentworth, 152-177.

Computation of real rate frommoney rate of interest, 526.

Conditions determining interestrate, summary of, 226#.; tabu-lar scheme, 228.

Consumption, the end of produc-tion, 454.

Consumption goods, relation of,to interest rate, 453-454.

Consumption loan. See Personalloan.

Continuous reckoning of interest,25-26.

Contractual interest. See Explicitinterest.

Correlation coefficients, bondyields and price changes, 417-420; interest rates and pricechanges, 411; obtained by lag-ging price changes, 418; withprice lag distributed, 419-429.

Cost, defined, 157; juture, aloneenters into valuation, 15; cap-italized, 467; a negative incomeitem, 15; past, affects valuethrough supply, 16; throughincome, 467; relation of to in-terest, 485-487; return over,150-188. See also Return overcost.

Costs, as disadvantages, 154#.

Cost of living, 6; ever present ininterest, 180-181; the moneymeasure of real income, 6-7; anegative item, 7.

Cost of production, less thanvalue of product, 49-52; pastand future, contrasted, 461-462; relation of, to value andinterest, 460-467.

[553

Cost theory of interest, 57.

Cost of the use of a good, 8-9.

Cost of waiting. See Waiting,also Abstinence .

Crum, W. L., on seasonal varia-tions in interest rates, 396.

Currency, depreciation of. SeeAppreciation and depreciation,also Price level.

Currency bonds, 401-402.

D

Day, Clive, cited, 336; on inter-est rates in Java, 375.

Davenport, H. J., cited, 34, 467;criticism by, considered, 453-454.

Del Mar, Alexander, theory ofinterest of, 165.

Depreciation, appreciation andinterest rates, 493-497; (andappreciation) of money, effecton interest rates, 36-44, 47;foresight offsets, 37-39; meas-ures to offset, 38-39.

Discoveries, effects of, similarto inventions, 347. See alsoInvention .

Distributed lag, definition of,419-420, 420?!.; applied to in-terest rates and price changes,416-429.

Distribution, effect on, of thrift,333-338; functional, miscon-ceived by classical economists,

332- 333; functional, relation tointerest, 331-333; personal, offirst importance, 333-338; per-sonal, relation of, to interest,

333- 338; personal, treatmentof, by Pareto, King, Stamp,Mitchell, Rae and others, 334;theory of, in relation to inter-est theory, 325-340; of wealth,effect of, on interest rates,378-381, 384-391.

]