International Currency Experience: Lessons of the Interwar Period

International Currency Experience: Lessons of the Interwar Period

International Currency Experience: Lessons of the Interwar Period

International Currency Experience: Lessons of the Interwar Period

Excerpt

The purpose of this volume is to consider the lessons that may be learnt from the story of international monetary relations during the inter-war period. No other period of equal duration affords so great a variety of experience; in no other period were so many experiments deliberately or fortuitously undertaken; in no other period was the influence of extraneous events on monetary relations or of monetary policy on economic conditions greater.

With the detail of the history so rich in incident this book is not concerned. The story is related in bold outline and the evidence is collated and analyzed in such a manner as to throw the major facts and sequences of events into perspective and with the object of deriving from those facts and sequences the conclusions that would appear to be of major importance for the formulation of policy in the future. The conclusions reached are summarized in the last chapter.

But though its primary object is to assist in the formulation of policy, it is hoped that this volume may prove of value also to those whose concern with monetary questions is less pragmatic.

The greater part of this volume is the work of Mr. Ragnar Nurkse; but Chapter VI was written by Professor William Adams Brown, Jr.

Certain chapters were originally drafted as independent documents and circulated to various experts for criticism. Many of the comments received, for which our sincere thanks are due, have proved of great value.

A. LOVEDAY Director of the Economic, Financial and Transit Department

League of Nations April, 1944 . . .

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.