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The way to prevent over-issue of notes was rigid adherence to the gold standard.
The Bank Charter Act of 1844 gave the Bank of England a legal monopoly of the
note-issue; laid down that the amount of legal tender currency in excess of a ...
The book opened with an account of the evolution, and a parade of the virtues, of
the gold-exchange standard, a system based on a paper currency maintained
artificially at par with gold by means of credits abroad in sterling, as opposed to ...
produce two sets of chain reactions, whose ultimate result would be to deprive
the Bank of England of the gold it needed to defend the gold standard - even
though the exchanges were turning in sterling's favour. According to E. V.
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LibraryThing ReviewUser Review - samstark - LibraryThing
An almost perfect intellectual biography, thought-provoking, well-constructed, and enjoyable. I didn't want to buy this because I couldn't imagine really reading something so long. Then one day I ... Read full review
JOHN MAYNARD KEYNES: Vol. III, Fighting for Freedom, 1937-1946User Review - Kirkus
Final volume in the definitive biography (following The Economist as Savior, 1920-1937, 1994, etc.) of the brilliant British economist.Keynes (1883-1946) may or may not have been the greatest ... Read full review