CONTENTS

PAGE
$ 3. RESTORATION OF THE GoLp PouND . 107-111

Policy of diminishing the currency pursued till the
spring of 1923 ’ . . ’ ; . . 107-8
After which it was kept stationary . . . 108-9
Free exportation of gold restored in April, 1925 10G-11I

APPENDIX I—CURRENCY NOTES AND THE Ex-CHEOUER
 . [12-14

APPENDIX II—THE GOLD STANDARD IN ENGLAND
BEFORE THE WAR AND AFTER 1925 . 115-20