A new basis for money

Abstract

B y FRANK MORRISpcoplc W~I O belicw tliiit by SOIIIC process of 11101i~tiir~ There lins becn n steady incrensc in tlic niiniber of and credit ninnipiilntion tlic grave ceononiic ills of the world irill dienppcnr ns if by mngic. Ever since 1931 when this country i i b n n d o d , or, in the cnnt 1)llriisc, wns " driren off " gold, tlic sluice pntcs of eontrowrsy on the ciirrency have bcen reopcned, nnil one of tlic liitest rccniits in support of n *' monctnry ' * pinncea for our troiibles is no less nil institution tliiin tlic London Clinniber of Commerce. Tlint body on Xovcnil~cr 10, 1931, nppointed n coniniittec " to consiilcr tlic nicnns ncecssiiry to provide tlic currency reqiiired for tlic innintcnniicc nnd devclopnient of 13ritisli t riitle, whilst avoiding thosc evils wlucli nre inviirinhly nt t endiiiit npon inflation nnd deflntion nlikc." This Ciirrcncy Coniniit t cc has issued ii Rcport iind hns iilso put fonvnrtl its proposnls for denlin~ with the problcni in its intcriiiitio~i~~l iispcct.