As time went on the area of trade widened until it covered whole
countries, and finally expanded into international trade or commerce
between different countries. [Sidenote: Inventions which have helped
commerce to grow.] This widening kept step with improvements in the
methods of transportation from pack-horse to wagon, from wagon to
railroad, and from sailing vessel to steamship. The expansion of trade
was also aided by the growth of strong governments which protected the
trader and made the paths of commerce safe. Likewise the general use of
money facilitated the operations of trade; so did the creation of a
system of commercial credit. Without railroads and steamships, law and
order, money and credit, it would not be possible to carry on commerce
as we have it today. If the world can feed and clothe and shelter an
enormously greater population than it could two hundred years ago this
is not because the people work harder; it is because they work more
intelligently and because they have created that gigantic system of
economic co-operation which we call commerce.
[Sidenote: Commerce includes exchange.]
=The Scope of Commerce.=—It is an error to suppose that commerce is
concerned only with the transportation of goods. Its scope is far wider.
Commerce includes not only the moving of goods but the whole process of
buying and selling. Wholesalers, jobbers, retailers, together with all
those who work for them are engaged in commerce. Not only are the
steamship lines, the railroads, and the motor trucks entitled to be
called agencies of commerce, but the telegraph and telephone systems as
well. The pipe lines which carry oil from the depths of the earth to the
great cities are instrumentalities of commerce; so are the gas mains in
the streets, the subways, and the street cars. The postal service,
likewise, is one of the most important factors in expediting commercial
transactions.
[Sidenote: It depends upon currency and credit.]
Commerce cannot be carried on, at least in any large measure, without
currency and credit. Hence the whole system of money and banking links
itself up closely with commercial organization. Goods are bought on
credit by the wholesaler, and sold on credit to the retail merchant who,
in turn, often sells on credit to his customers. The banks and other
credit institutions provide the money to carry on these operations of
trade. So when one takes all these things into account it will be seen
that a considerable proportion of the people are engaged in one or
another of the various branches of commerce.
[Sidenote: Local, interstate, and international commerce.]
Public-domain text, read in full here on John Shaqi.
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