The Communitys Credit a Consideration of the Principles And Proposals of the S
The Communitys Credit a Consideration of the Principles And Proposals of the S
C Marshall Charles Marshall Hattersley
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It is still the old story of the vicious circle higher wages, higher prices, ad infinitum and many of the remarks made just previously with regard to the effect of a general reduction in wages may be applied mutatis mutandis to the effect of an all-round rise. The A very influential body of opinion, Gold particularly amongst Bankers, is in Standard, favour of a return at the earliest opportunity to a Gold Standard of Currency. We have already (c) discussed this matter at some length, and we hav...e seen that such a return would be nothing less than a calamity, except perhaps to that small propor- tion of the Community to whom it would bring additional opportunities for self - interested manipulation of credits and values. It is un- necessary to add anything here to what has been already said (c), except to repeat with all possible emphasis that a return to the Gold Standard is a step backwards. Such a standard for our currency is illogical, and exposes the community to unnecessary dangers, whilst effec- ting little or nothing in the way of a solution of its problems.
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