Originally published in 1926. This book explains clearly the depreciation of the franc, the return to the gold standard and dollar parity, inflation and deflation, the stabilization of the mark and its effects; and the connexion between exchange rates and prices. It describes the transfer of money abroad, bank credits, the various methods in which documentary bills are dealt with and foreign currencies exchanged. Based on the author's practical experience of finance, it incorporates economic research and contains a concise statement of Britain's debt to America, the Dawes Reparation Plan, and the debt settlements with France and Italy.
Preface Part 1: Outlines 1. Introductory - Currency and Gold 2. Mint Pars 3. Gold Points Part 2: Exchange 4. Bills of Exchange 5. Exchange Trading 6. Documentary Bills and Credits 7. Miscellaneous Practical Issues Part 3: Exchange, Trade, Prices 8. The Balance of Trade 9. Loans and Credits 10. The Silver Exchanges 11. Interest Rates: Bank Rate and the Exchanges 12. Inflation 13. Purchasing Power Parity Part 4: The New Equilibrium 14. The Mark 15. The Franc 16. The Return to Gold 17. Stabilization 18. International Debts