TABLE OF CONTENTS
PAGE
INTRODUCTION—THE EXPLANATION OF MONETARY PHENOMENA
AND THE CrLassicAL THEORY ’ v
PART 1
MODERN MONETARY SYSTEMS AND THEIR
OPERATION
CHAPTER I
MopERN MONETARY SYSTEMS . :
§ 1. Definition of monetary systems.
§ 2. Monetary systems in operation; rudimentary notions of
the mechanism of exchange.
§ 3. Principal stages in modern monetary history.
CHAPTER II
THE REIGN OF BIMETALLISM . :
§ 1. Establishment of bimetallist »égime, application of the
system of free coinage to two metals; theoretical
difficulties.
§ 2. Bimetallism in operation during the first three quarters
of the 19th century. Explanation of the slight fluctuations
 in the price of silver in monometallist countries.
§ 3. Bimetallism in operation (contd.), its efficacy in maintaining
 a stable exchange ratio between gold and silver.
CHAPTER III
THE DEPRECIATION OF SILVER .
CHAPTER 1V
THE RECOVERY OF THE EXCHANGES BEFORE THE WAR OF
1914 . . 31
§ 1. Monetary Reform in India: its exact scope and significance ;
adoption of the gold standard in a new form.
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