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Are on sale and bought in the market. Though a problem of an establishment of the correspondingExchange rates (taking into account the given exchange rates between various currencies)
Will be difficult, the computer will help to make almost instant calculation, so bank
Will hourly know, whether to increase to it or to reduce volume of currency, Offered for loans and-or for sale. Fast, immediate measures will be
To be accepted by purchase or currency sale at a stock exchange, but long effect
Can be reached only by change of a loan policy. Current emission policy In this paragraph I intend to state in more details as should operate Bank of issue to keep value of the currency on the selected constant Level. A basis for the daily decisions, concerning its loan policy (and
Also sales and purchases of currencies at a currency stock exchange), results should serve
Constant calculations on the computer into which it is continuously entered, on a measure
Receipts, the freshest information on the prices for the goods and exchange rates.
It is possible to illustrate character of these calculations on an example following
The simplified table (Table II). I neglect here a question on that, how much
Should or should not be considered transport expenses on ways from the main thing
The market to a certain general centre or the separate articles reflecting expenses on
Different types of transport.
The key number in the right bottom corner of the table will be the major information,
Received or as a result of such selection of volumes of the various goods, that
For initial date their cumulative price in it equaled 1.000, or in Result of a choice 1.000 as base for calculation of index number. This The size and its current changes should serve as a signal specifying
To heads of bank as they should arrive. The number which has appeared on the screen
1.002 will tell it that it is necessary to toughen the control, that is, to limit loans
(Doing them is more expensive or, giving more selectively and selling other currencies
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