Money - The Decisive Factor -- Britain’s Handicap in the Economic Race With Russia

Foreword.

  Preface to Second Edition.

  Chapter I. The Background.
The problem of the 20th century--Material progress
of Communism--Alternative for the West--Measure-
less reward or supreme disaster?--The Tory and
Socialist solutions--Problem of the Trade Cycle--
What Adam Smith said--What has gone wrong?

  Chapter II. A Brief History of Money.
Earliest exchanges--From weights to coins--The
ancient world--Elizabethan England--Blondeau\'s
Mill--The end of an era.

  Chapter III. The Birth of Modern Money.
The advent of paper--Goldsmiths to bankers--The
Bank of England--From paper money to credit--The
gold standard and the trade cycle--Ricardo and
Torrens--Victorian England and the gold standard.

  Chapter IV. What Money Is.
War finance 1914-18--Deflation and unemployment
of the 20\'s and 30\'s--End of the Great Depression--
The Second World War and inflation--The Cohen
Committee--The Radcliffe Report--The present
financial system: why it fails.

  Chapter V. What Money Should Be.
The proper function of money--Proposals for reform
--The prerogative of the State--Goods and money--
Stability of the Price Level--Arguments for a Com-
modity Standard--A logical evolutionary step--
Guernsey and other monetary experiments--Reality.

  Chapter VI. International Trade.
Origins--Merchant Bankers--Foreign Investment--
The pursuit of \'favourable\' trade balances--Creditors
and debtors--Purpose of exports--Trade and invest-
ment--The great loan to Mars!

  Chapter VII. Conclusions.
Economist, old and new--The monetary system and
the trade cycle--A detached view of money--Benefits
of Commodity Money--Ignorance the barrier to
change--Need for education in economics--The race
with Communism--Money, a self-imposed handicap
--Equilibrium in our time.

  Index.