The Tragedy of the Pound (Routledge Revivals)
By Paul Einzig
Published December 4th 2012 by Routledge – 204 pages
Series: Routledge Revivals
First published in 1932, this book discusses the suspension of the gold standard in Britain, and the economic events surrounding September 1931. It argues that despite specific errors made by individuals, groups, and individual nations, the attempts to save the pound had little chance of recovery. Indeed, years before its collapse, powerful, fundamental factors had been eroding its stability. Hence, the author does not entirely blame the influence of French policy, or Great Britain’s political and economic decline after the war, but states that the collapse of sterling was co-ordinated by several factors of importance.
Preface; 1. Introductory 2. Fundamental Causes 3. Return to Pre-War Parity 4. The Rate of Stabilization 5. International Capital Transfers 6. The "Gold Standard Game" 7. Direct Causes 8. Errors and Omissions 9. The Defence of Sterling 10. The Bank Rate Controversy 11. Suspension of the Gold Standard 12. Immediate Effects 13. International Effects 14. The Dollar "Crisis" 15. Effect on World Prices 16. Sterling v. Gold 17. Future of the Gold Standard 18. Future of the Pound 19. Political Aspect 20. Conclusion