Currency and Credit e-bog

Whilst the greatest effort has been made to ensure the quality of this text, due to the historical nature of this content, in some rare cases there may be minor issues with legibility. It will be found that pre-war institutions and con dirions are often referred to in the present tense. This is no more unreal than to speak of them' in the past, as things of the past. Even now the war is not techni cally over, and in the prevailing obscurity it is impossible to say What can or cannot be regarded as normal or actual. Chapters XV. To XIX. Are occupied with illustrative examples drawn from a variety of periods and countries. I am indebted to the editors of the Economic Journal for bringing out the greater part of Chapters XV. And xvi.'in the issues of the journal for September and March, 1918.