AN " ATTACK."
Nor are the advantages which undoubtedly accrue from the Gold Standard such as the credit of the London Money Market, the interest received on our enormous holdings of foreign investments and the steadier exchanges enabling us to bur raw materials more cheaply, adequately recognized. And this is a pity, because it really converts a work which purports to be an investigation into our economic position into a mere violent attack upon the Gold Standard. These, however,- are not the days for mere " attacks," because whatever may he the subject under discussion, whether Free 8Ths Ilass in the Economic, -,Syni—The Case Against the Gold Standard. By J. Taylor Peddle. (John Murray. 7s. (3d. net.) Trade and Protection, gold standards or other standards, what. the practical man really wants to know is what are the effects ON BALANCE. •In Mr. Peddie's book there are some chapters dealing with the system which it is propoied to substitute for • the Gold-Standard, but although the author frequently disclaims any desire to foster a scheme of inflation, I consider that in the proposals prit Tforkvard for enlarging purchasing
• power we have inflation thinly disguised. That, however, is not •ta say that the Gold Standard system is without its • imperfections, or that some Modifleations of the Bank Act
• in the direction of greater elasticity may not be required.. It - is the more regrettable, therefore, that some of these points which are really brought out quite well in -Mr. Peddie's book should be marred by the fierceness of his dislike for the Gold Standard which animates every chapter in the book.
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