Dollars

Dollars

Dollars

Dollars

Excerpt

What kind of dollar do the American people want? An obvious answer would be that they do not know. That is to say, the average citizen could not put in words any precise definition of what he wants. But in a more fundamental sense, he has some very exacting demands which run in terms of the practical results of monetary policy. Any political or financial leadership which fails to produce these results is likely sooner or later to be thrown into the discard.

An attempt to describe the nature of the practical results of a monetary policy suited to the demands of the average citizen encounters the difficulty of all efforts to fathom public opinion. Nevertheless, I believe it is possible to hold the mirror up to the public mind on the money question. Indeed, I believe this is the most worth-while starting point in a study of the question: What will the dollar be worth? Over a period of time, the American people will probably get the kind of . . .

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