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INTERNATIONAL CURRENCY
An Inopportune Proposal–What is Currency?–The Primitive System of
Barter–The Advantages possessed by the Precious Metals–Gold as a
Standard of Value–Its Failure to remain Constant–Currency and
Prices–The Complication of other Instruments of Credit–No Substitute
for Gold in Sight–Its Acceptability not shaken by the War–A
Fluctuating Standard not wholly Disadvantageous–An International
Currency fatal to the Task of Reconstruction–Stability and Certainty
the Great Needs

the investing public and of financiers who cater for its wants, and
also of employers and organisers of industry who are trying to see
their way into after-the-war conditions, is that of the supply of
capital
One of the questions that are now most keenly agitating the minds of
the investing public and of financiers who cater for its wants, […]

Other Securities 7,434,900
Gold Coin and Bullion 38,458,235
[…]

necessary to discriminate between certain classes of companies–Class
A being companies in general, Class B being companies owning British
shipping, and Class C companies engaged in ‘key’ industries
In answering these questions, the Committee decided that it was
necessary to discriminate between certain classes of companies–Class
A being companies in general, Class B being companies owning British
shipping, and Class C […]

foreign securities, which this country held at the beginning of the
war, we could not nearly so easily have financed the enormous amount
of food and munitions which we have had to provide for our population,
for our armies, and for the population and armies of our Allies
It is a commonplace that if it had not been for […]

neighbours have already reduced their monetary systems; but there
is fortunately a very general feeling that we are a country with a
reputation and a prestige on this point; and the business world is
growing restive concerning the delay on the part of those responsible
in putting an end to a state of things which may have been justified
by […]