and curves. As the Government continually outran the constable, it created new credit by borrowing directly and indirectly from banks, and new currency was poured out as backing for the new credit and prices went, with occasional slight hesitations, steadily ahead. But after 1919 the disagreements and discords between money and prices are as consistent as the previous harmony and need very careful consideration in view of the fashionable belief that credit, contracted and expanded like a concertina by a consortium of banks of issue, will suffice to draw a nice straight line of stabilization across the once untidily see-sawing price chart of human enterprise.
