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amount arbitrage balance Bank of England bank rate bank-rate borrowing Britain business world capital cash cent per annum chapter commodities countries country's Currency Note debt Deflation depreciation Devaluation discount on forward economic effect equation of exchange equilibrium fact fall favour Federal Reserve Board fixed fluctuations forward dollars forward exchange franc Germany gold reserves gold standard Government Hesperides important income increase index number inflation influence internal price level investments Irving Fisher June labour London ment method monetary money rate month forward movement note issue period practice pre-war parity production profit proportion purchasing power parity rate of exchange rate of interest real rate reason relative rentier restoration result rise risk speculative spot and forward stabilisation standard of value steady sterling sterling prices store of value taxation tion trade transaction Treasury United value of gold value of money volume wealth whilst