Banks—Notes Printed and Issued—The War-time Debasement—Was it Necessary?—What an Ideal Statesman might have done—France and Germany's Bad Example—The Spirit of the Country—The Tame and Fearful Capitalist—The Patriotic Manual Workers—The Opportunity, missed—War Borrowing made Unnecessarily Dear—Puffed out Banking Figures—The Increase in Currency—And in Cash at the Bank of England—Consequences of the Bulge—In Favour of Producers—And so, at First Sight, to the Community—As long as the Creditor is not Frightened out of Existence—The Wine, the Bottles and the Crowns.
CHAPTER III
The "Reformer's" Opportunity—Hopes of a New World—The Pre-war System Attacked—Sir Edward Holden's Eulogy of the Federal Reserve Scheme—His Proposal to Repeal the Bank Charter Act—His Alternative Scheme—Its Difficulties—The Cunliffe Committee—Its Report—Its Criticism of Sir Edward Holden—And of the German and American Systems—Its Proposals—A Return to the Bank Act, with Slight and Formal Modification—The Financial Facilities Report—Its Recommendations—The British Trade Corporation.
CHAPTER IV
