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Which it can be turned. Historically correctly that all money, Saving the value a little long time, were metal (Or reversible in metal - in gold or silver); correctly also that The governments "spoilt" sooner or later even a metallic currency, so all Kinds of paper money which we know, appeared even worse. Therefore in The present many consider that returning can help only to Metal (or to other commodity) to the standard. However, a metallic currency
Not only are in the same way subject to risk of swindle from outside the governments,
But even best of them will be never so reliable, as money,
Let out by the agency which all business depends on success of maintenance
Publics money which this public prefers to all other. Though gold -
The anchor, and any anchor is better, than the governmental arbitrariness, it very much
Unreliable anchor. It, certainly, will not sustain loading, if the majority of the countries
Will decide to enter own gold standard. Gold simply will not suffice.
The international gold standard can mean today only that a little
The countries begin to support the real gold standard, while others
Will be connected with them through the standard in the gold and exchange form.
The competition will provide more reliable money, than the government
I am convinced that we can do it better, than gold, and the governments - is not present.
System of free business, that is institutes which will arise in
Competition process for granting of good money, undoubtedly, it is capable
On it. In this case there will be no need to burden process of the offer of money
Difficult, and the expensive mechanism of maintenance of convertibility which was
It is necessary for maintenance of automatic action of the gold standard, and
Which seemed to more practical, than incomparably more approaching on a role
Ideal, the standard based on a commodity reserve.
Rather interesting scheme based on has been developed for it
Reservation of a great number of raw and other standard goods, at
Which the monetary unit would exchange on the fixed set of such goods
And, thereby, its stability would be reached. Practical value of the given
Offers, however, decreases necessity of reservation (with creation
Warehouses etc.) that will be very expensive and convenient for rather small
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