Labor Quotes
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As it now appeared that we had been forced at least two points north of the course we had originally intended to steer, by the northern bearing of the Canadian, we made an effort to cross a ridge of timber to the south, which, after considerable labor, proved successful. Here we found a multitude of gravelly, bright-flowing streams, with rich bottoms, lined all along with stately white oak, black-walnut, mulberry, and other similar growths, that yielded us excellent materials for wagon repairs, of which the route from Missouri, after passing Council Grove, is absolutely in want. Figure 12-6 pulls together in a simplified way the main elements of income determination. Without saving and investment, there would be a circular flow of income between business and the public: above, business pays out wages, interest, rents, and profits to the public in return for the services of labor and property; and below, the public pays consumption dollars to business in return for goods and services.
Realistically, we must recognize that the public will wish to save some of its income, as shown at the spigot Z. Hence, businesses cannot expect their consumption sales to be as large as the total of wages, interest, rents, and profits.