A Tract on Monetary Reform

by John Maynard Keynes

INDEX

• American debt, [191]
• Aurelian, [152]
• Austria, elasticity of demand for money, [48]
• value of note issue, [52]
• currency of, [55]
• Bank of England, and forward exchange, [135]
• and gold, [171], [184], [190], [192]
• and existing system, [178]
• Bank rate, and prices, [21]
• and forward exchange, [136]
• pre-war effect of, [159]
• “Big Five,” [178]
• British Empire, currency of, [205]
• Business class, [18], [29]
• Cannan, Professor, [47]
• Capital, diminution of, [29]
• Capital levy, versus currency depreciation, [63], [65]
• in Great Britain, [68]
• Cassel, Professor, [87], [92]
• Chervonetz, [51], [57]
• Consols, [12], [15]
• Credit-cycle, [83], [86], [187], [188]
• Cunliffe Committee, [140], [184], [194], [195]
• Cuno, Dr., [60]
• Currency depreciation, in history, [9], [11]
• advantage to debtor class, [10]
• incidence of, [42]
• versus capital levy, [63]
• social evils of, [65]
• Czecho-Slovakia, [143], [146]
• Debtor class, political influence of, [9]
• Deflation, [143]
• and distribution of wealth, [4]
• and production of wealth, [4], [32]
• meaning of, [82]
• arguments for, [147]
• and Aurelian, [152]
• Devaluation, [64], [67]
• and deflation, [141], [142]
• and currency reform, [145]
• Dollar, forward exchange in, [118], [123], [125]
• Edward III., [163]
• Equation of exchange, [93], [97], [99]
• Estcourt, Dr., [107]
• Exchange speculation, effect of, [112]
• and forward market, [130], [138]
• services of, [136]
• External purchasing power, [88]
• Federal Reserve Board, and gold, [86], [167], [175], [197]
• index number, [94]
• co-operation with, [186]
• Fisher, Prof. Irving, [78], [148], [155], [163], [187]
• Foreign exchange, and purchasing power parity, [87]
• forward market in, [115]
• stability of, [141], [154], [189]
• Forward market in exchanges, [115]
• as an insurance, [121]
• and interest rates, [124]
• and State banks, [133]
• and bank rate, [136]
• Franc, exchange, [73]
• purchasing power parity, [101], [104]
• seasonal movement, [111]
• forward exchange in, [116], [118], [120], [125]
• devaluation of, [143], [145]
• France, losses of investors, [13], [65]
• burden of internal debts, [70]
• Genoa Conference, [134], [142], [143], [173]
• Germany, interest rates in, [22]
• and currency inflation, [41]
• elasticity of demand for money in, [48]
• value of note issue, [51]
• currency of, [54]
• sums raised by inflation, [58]
• recent financial history, [61]
• equation of exchange, [99]
• Gibbon, [152]
• Gold and State banks, [81]
• price of, [190]
• cost of burying, [199]
• Gold discoveries, [164]
• Gold mining, [165]
• Gold standard, [9], [12]
• restoration of, [149], [163]
• Great Britain, capital levy in, [68]
• currency statistics of, [83]
• seasonal trade, [108]
• ideal currency, [177], [203]
• banking system of, [178], [185]
• note issue, [193]
• Harvard, economists of, [199]
• Hawtrey, R. G., [163], [173], [174], [176], [187], [203]
• Hoover, Mr., [200]
• Huskisson, [153]
• Index numbers, for regulating money, [187]
• India, [141]
• prices in, [156]
• Individualism, and monetary stability, [40]
• Inflation, and distribution of wealth, [4], [5]
• and production of wealth, [4], [32]
• and redistribution of wealth, [30]
• as a method of taxation, [41]
• importance of rate of, [49]
• sums raised by in Russia, [57]
• sums raised by in Germany, [58]
• meaning of, [82]
• Interest, “money” and “real” rates of, [20]
• Interest rates and forward exchange, [129]
• Internal purchasing power, [88]
• Investment system, [5]
• Investors, losses of, [13], [16]
• Italy, losses of investors, [14], [65]
• Bank of, and forward exchange, [134]
• Labour, effect of rising prices on, [27]
• Lasteyeri, M. de, [71]
• Lehfeldt, Professor, [48]
• Lira, purchasing power parity, [101]
• seasonal movement, [111]
• forward exchange in, [116], [119], [129]
• devaluation of, [143], [145]
• “Managed” currency, [166]
• Marks, speculation in, [113]
• forward exchange in, [119]
• Marshall, Dr., [78], [79]
• Middle Ages, and currency debasement, [162]
• Middle class, losses of, [30]
• Money, elasticity of demand for, [47]
• stability of, [40]
• future regulation of, [177]
• Moscow, and use of money, [46]
• Mussolini, [145], [153]
• Note issue, existing system in G.B., [183]
• suggested system, [193]
• Pigou, Professor, [74], [78]
• Poland, elasticity of demand for money, [48]
• Population, [31]
• Prices, index numbers for various countries, 1913–1923, [3]
• fluctuations in nineteenth century, [2]
• steadiness in nineteenth century, [11]
• raw materials, 1919–1922, [19]
• effect of expectation of rise or fall, [22], [33], [37]
• effect of falling, [24]
• stability of, [154]
• Profiteers, [25], [26], [28]
• Purchasing power parity, [87]
• Quantity theory, [42], [74]
• Rasin, Dr., [146], [147]
• Real balances, [78], [83]
• Reichsbank discount rate, [23], [60]
• Ricardo, [87], [152], [153], [154]
• Risk, and production, [35]
• Rupee exchange, [157]
• Russia, and currency inflation, [41], [63]
• value of note issue, [52]
• currency of, [55]
• Saving, [7]
• Seasonal movement of exchanges, [106], [108], [111], [177], [191]
• Sterling, purchasing power parity, [100], [102]
• seasonal movement, [111]
• forward exchange in, [116], [117], [125]
• Taxation, by means of inflation, [41]
• Treasury Bills, relation of, to currency, [179], [196]
• Trustee investments, [8]
• United States, proposals for, [197]
• closing mints of, [200]
• and redundant gold, [201]
• Vienna, and use of money, [46]
• Wages, and prices, [27], [29]
• “Ways and Means” advances, [180]

THE END

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THE ECONOMIC CONSEQUENCES OF THE PEACE

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THE SPECTATOR.—“Mr. Keynes’s careful and disinterested study of the monetary facts of twenty years, and his methodical marshalling of facts and figures, will be useful even to those—and they will probably be few—who are not convinced by his reasoning.”

THE CLARE MARKET REVIEW.—“By his really masterly treatment of the Indian currency system, the author has made a very valuable addition to our economic literature.”

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