The Power To Become Habituated To His

In Truth, The Gold Standard Is Already A Barbarous Relic.

The Biggest Problem Is Not To Let People Accept New Ideas, But To Let Them Forget The Old Ones.

The Idea Behind Stamped Money Is Sound.

The Engine Which Drives Enterprise Is Not Thrift, But Profit.

Nevertheless, If We Contemplate A Society With A Somewhat Stable Wage-unit, With National Characteristics Which Determine The Propensity To Consume And The Preference For Liquidity, And With A Monetary System Which Rigidly Links The Quantity Of Money To The Stock Of The Precious Metals, It Will Be Essential For The Maintenance Of Prosperity That The Authorities Should Pay Close Attention To The State Of The Balance Of Trade. For A Favourable Balance, Provided It Is Not Too Large, Will Prove Extremely Stimulating; Whilst An Unfavourable Balance May Soon Produce A State Of Persistent Depression.