THE PRICE OF GOLD
SIR,-1 always read Mr. Davenport's articles with relish and enlightenment, but on the above subject (June 28) he seems to me to emphasise the impractic- ability of raising the price of gold,- rather than to show wbether or not a revaluation of gold is, in itself, a good idea. After all, it is the value of the dollar and the pound sterling which we are discussing, held artificially high--,as I believe--by all kinds of fancy arrangements which, in recurring crises; fail to hold the line.
Are thirty-five dollars worth an ounce of gold? Is gold not the ultimate yardstick and should not all currencies have to be measured against it according to their real value? Is it not true that to hold down gold to an artificial price is to deprive the world of credit, to keep the price of the commodities low and generally bedevil the whole set-up of international trade? Did not Bernard Shaw say that nothing of importance happens till someone is going to be shot if it doesn't?
THOMAS AITKEN 118 Queen Street, Glasgow, ('f.
Previous page
