Abstract
When on the 21st of September 1931 the Bank of England suspended gold payments the prestige of the gold standard received the heaviest blow it ever suffered. That England which had made out of the crude instrument of early nineteenth century days the intricate finely controlled mechanism of post war times, that the country which had been its birth place, its nursery, and its finishing school should at last have decided to cast out this prodigal son which it had welcomed back with so much enthusiasm six years earlier, was in the eyes of many conclusive proof that the gold standard was definitely played out. For unlike the later suspension of gold payments in America which was voluntary and unnecessary, a psychological trump to force business recovery, the ultimate abandonment of the gold standard in England was the direct result of its failure to secure the even flux and reflux without which gold payments cannot permanently be maintained. Again then the question rises what has been the cause of this derailment.
Es ist im Grunde eine Einstellung des 18. Jahrhunderts anzunehmen dass gegen jedes Leiden ein Kräutlein gewachsen und jedes Problem lösbar ist. Prof. Landmann
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© 1935 Martinus Nijhoff, The Hague, Netherlands
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Huizinga, J.H. (1935). England. In: Gold Points a Moral. Springer, Dordrecht. https://doi.org/10.1007/978-94-015-0657-1_7
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