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Should reduce according to rules of the gold standard level The monetary incomes. The central bank here is considered in quality
The important element of a policy of stabilisation of the prices. It (Hawtrey) p. 144 - 145, see "Monetary
Reconstruction " considers such policy as overcoming means
The difficulties, the generated subjects circumstance that stable exchange rates between
The countries not always appear compatible to a stable price level in everyone
From them separately. If the prices are kept at the same level in the country
And, it can appear necessary that in the country In they grew, and on the contrary, if
It is necessary, that the price level in the country In remained invariable, probably that
They should fall in A.Hotri's country analyzes arrangements of the central
Banks which allow to distribute in the best way similar "deviations
From norm "between the various countries.
On realisation of the international cooperation as the major modern
Function of the central banks it was specified at the Bruxelles conference in 1920
The international financial conference (International Financial Conference) and
At the Genoa conference - in 1922 International economic
Conference (International Economic Conference). And heads
The central banks also give to it of more attention. Montegju Norman
(Montagu Norman) describes the efforts on a cooperation establishment between
The central banks of the different countries of the world as one of the two major problems
Last years 3317, "MacMillan Committee, Minutes of Evidence". That it
Efforts have not gone to waste, proves to be true widespread opinion on that,
That decrease by Federal Reserve System of a discount rate in second half
1927 has occurred under the pressure of representatives of other central banks 213 - 214, U. S. A., see
"Committee on National, p. 162, 1931 and Federal Reserve System". However the most impressing results, probably, those expect who
Asserts that cooperation meanwhile has not too promoted further
"Highly specialised agreements on certain measures concerning percent rates"
6720 (Sir Otto Niemeyer), Minutes of Evidence", "MacMillan Committee. If
The truth would be that cooperation of the central banks is directed on
The control over observance "game rules in the gold standard" as draw in the
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