Preface

Preface

The publication in volume form of the articles I have drafted in the last eight years, in favor of a return to gold, requires a short justification.

For many writers, contempt for gold is a new idea and praise of paper money an original thought. But the history of ideas about money shows, on the contrary, that we are dealing with a very old conflict that comes up periodically.

1. Freedom for the Gold Market

1

Freedom for the Gold Market

(L’Opinion, December 19, 1946)

(L’Opinion, December 19, 1946)

Return the gold market to freedom? But why not? Nothing would do more to promote the financial health one hears about.

2. The Two Monetary Markets

2

The Two Monetary Markets

(L’Opinion, January 1, 1948)

(L’Opinion, January 1, 1948)

Money is not only exchanged for merchandise; it is exchanged also for foreign moneys. The public, in general, knows only the first of these two markets. That is the gravest of errors.

3. The New Franc

3

The New Franc

(L’Opinion, January 20, 1948)

(L’Opinion, January 20, 1948)

A breach has finally been made in the monument of international hypocrisy so cleverly erected right after the war for the protection of paper moneys.

It is to the credit of the French government to have given the first blow to this universal conspiracy to prevent monetary truth from coming to light.

4. The Blocking of 5000 Francs Notes

4

The Blocking of 5000 Francs Notes

(Letter to Mr. Courtin, editor-in-chief of Le Monde, January 31, 1948)

(Letter to Mr. Courtin, editor-in-chief of Le Monde, January 31, 1948)

5. Gold and Paper

5

Gold and Paper

(L’Opinion, March 3, 1949)

(L’Opinion, March 3, 1949)

Gold is once again in the foreground of public attention. It had to return there, in spite of all the efforts of the governments to banish its embarrassing presence.

6. How to Bring Gold Back to Europe

6

How to Bring Gold Back to Europe

(La Vie française, July 1, 1949)

(La Vie française, July 1, 1949)

7. Change in Orientation

7

Change in Orientation

(Economie contemporaine, January 1950)

(Economie contemporaine, January 1950)

8. Gold, International Currency

8

Gold, International Currency

(Lecture delivered before the French Parliamentary Committee for Commerce, February 1950)

(Lecture delivered before the French Parliamentary Committee for Commerce, February 1950)

9. The Distribution of Gold in the World

9

The Distribution of Gold in the World

(L’Opinion, April 13, 1950)

(L’Opinion, April 13, 1950)

It is curious to see how certain economic doctrines which are true in peace time still retain their prestige when war conditions have rendered them inapplicable. This is true, today, of the doctrines concerning the distribution of gold in the world.