Adjustment and International Liquidity

  • W. M. Scammell


This chapter and its successor deal with the institutions which serve policies for adjustment of the balance of payments; with the systems through which they function, and with the economic pathology of those systems. This is a large subject matter and, in order not to lose our way, it is necessary to map out our line of advance.


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  1. 11.
    See Brian Tew, ‘Sterling as an International Currency’, Economic Record (June 1948).Google Scholar
  2. 12.
    A. G. Ford, The Gold Standard, 1880–1914: Britain and Argentina ( Oxford: Oxford University Press, 1962 ), p. 28.Google Scholar
  3. 15.
    See Ragnar Nurkse, International Currency Experience (League of Nations, 1944), p. 7.Google Scholar
  4. 17.
    The reader who wishes to examine this period should consult Nurkse, International Currency Experience; W. A. Lewis, Economic Survey, 1919–1939 (London: Allen & Unwin, 1949); and Yeager, International Monetary Relations pp. 266–332.Google Scholar
  5. 18.
    See R. F. Mikesell, United States Private and Government Investment Abroad (Oregon University, 1962), p. 26. Quoted in Shannon, International Liquidity p. 23.Google Scholar
  6. 19.
    W. A. Brown Jr, The International Gold Standard Reinterpreted, 1914–34, 2 vols ( New York: National Bureau of Economic Research, 1940 ), p. 823.Google Scholar

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© W. M. Scammell 1974

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  • W. M. Scammell

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