Originally published in 1933 this book discusses the inadequacy of ‘orthodox Gold Standard theory’ in the light of post-war monetary phenomena. In demonstrating that the Gold Standard had broken down the book explains that the Quantity Theory of Money is an inaccurate explanation of what happens over short periods and that the determining factor in the rise or fall of prices is the Velocity of Circulation. The book makes a plea for a workable Gold Standard operated by an international consortium of Central Banks.

chapter I|18 pages

The Orthodox Theory of the Gold Standard

chapter II|25 pages

Gold Movements and the Price-Level

chapter V|32 pages

War Debts, Reparations, and Tariffs

chapter VI|31 pages

The Dilemma

chapter VII|38 pages

Towards a Workable Gold Standard

chapter VIII|8 pages

The Three Evil Genii Again

chapter IX|22 pages

The World Bank