RESTORATION

TIX

will on the whole be more just than a continuance
of the high level reached. Every one will admit
this, if allowed to put his own interpretation on
“long.” The rise which reached its zenith in April,
1920, had for the most part taken place in a period
which for my part I should not consider long, and
the return from the heights of that date to gold
level, which was and is much above the pre-war level,
seems to me a very tolerable compromise between
the claims of those who would have been justly
treated by a return ' ‘he pre-war level of prices
and those who wa ~~.» justlv treated by a
maintenance . © 9.
But to ad" ‘evel of prices is
foreign to .. ,vaichis to explain
how differs “re in fact attained
and main