1 expedient would certainly considerable amount of the Dr. Schachts expedient therefore, now he is removed from its direct control, may balloon into a most ex—|eeptional form of inflation, covering indeed the whole fabric of world economy for, as recent attacks on French financial conditions have shown, the gold standard is subject to revision, and still further revision until, as in France, the French Franc, dragging with it more directly the Belgian and Swiss Francs, together ultimately the Netherlands Guilder hanging with Sterling and the U.S. Dollar, under the Tripartite Agreement, is very thin indeed with its gold. backing in actual bullion. very much revalued in face of rising and much higher costs.
Sterling in terms of gold, is overvalued in that it actuated against Britain's export trade. Similarly the United States' silver-purchasing and gold reserve policies are making purchases of US. manufactures and products increasingly dificult. These factors only tend to assist the illegitimate" barter or closed areas of trade. being set in harness on gunt is t the Nazi and paid in State So doing, the State, which of such foodstuff, complete the economic d always that the other barter bargain, can be ith German "This last is the crux of enormous conse den for Cen-or failure ave wks might have Europe M mn Ges method, for the Should pt duplicate the world as a whole. Its 4 50 success, or lack of decisive has already vastly revised ideas of international political economy. Further proof of workability, either from sheer necessity, ideology leal or otherwise, would destroy in A motable measure the formerly re-jons of "free econo-Afready, even in such citadels ction in the sense of Government inter-
Text read from the printed page and cleaned; old type leaves the occasional error.