Monetary Reform

NEW YORK HARCOURT, BRACE AND COMPANY 1924 CONTENTS PREFACE CHAPTER I THE CONSEQUENCES TO SOCIETY OF CHANGES IN THE VALUE OF MONEY I. CHANGES IN THE VALUE OF MONEY, AS AFFECTING DISTRIBUTION 1. The Investing Class 2. The Business Class 3. The Earner II. CHANGES IN THE VALUE OF MONEY, AS AFFECTING PRODUCTION CHAPTER II PUBLIC FINANCE AND CHANGES IN THE VALUE OF MONEY I. Inflation as a Method of Taxation II. Currency Depreciation versus Capital Levy CHAPTER III THE THEORY OF MONEY AND OF THE FOREIGN EXCHANGES I. The Quantity Theory of Money II. The Theory of Purchasing Power Parity III. The Seasonal Fluctuation IV. The Forward Market in Exchanges CHAPTER IV ALTERNATIVE AIMS IN MONETARY POLICY I. Devaluation versus Deflation II. Stability of Prices versus Stability of Exchange III. The Restoration of a Gold Standard CHAPTER V POSITIVE SUGGESTIONS FOR THE FUTURE REGU- LATION OF MONEY I. Great Britain, II. The United States. III. Other Countries