“Mr Fox vividly recreates the atmosphere and social environment of the time.”
+ Springf’d Republican p9a N 14 ’20 160w
FOXWELL, HERBERT SOMERTON. Papers on current finance. *$3.50 Macmillan 336.42
19–12740
“This volume brings together with little alteration seven articles and addresses spread over the period 1909–1917, but relating either to problems raised directly by the war or to questions to which the war has brought a new and urgent interest. An appendix reproduces a paper of 1888, ‘The growth of monopoly, and its bearing on the functions of the state’; also a letter dated February, 1918 advocating ‘fixed exchange within the empire.’ The first paper, ‘British war finance,’ deals critically with the crisis of 1914 and the financial emergency measures that it evoked. The next two papers are concerned with the problem of financing trade and industry, particularly after the war. ‘The financing of industry and trade’ (4) stresses the desirability of a closer touch between the financial, as distinguished from the banking institutions and British industries. ‘The banking reserve’ (5) deals with the inadequacy of the English position and proposes the establishment of a system of triple reserve. The burden of ‘Inflation: in what sense it exists: how far it can be controlled’ (7) an address delivered in 1917, is that the foreign exchanges do not prove currency depreciation, that gold depreciation was scarcely more marked in England than in the United States, that high prices resulted from the enormous expenditure of the government and could be checked only by cutting away from the gold standard.”—Am Econ R
Reviewed by C. A. Phillips
+ Am Econ R 10:140 Mr ’20 550w
“It is the papers on finance and banking which show Professor Foxwell at his best, and make his volumes a valuable handbook for students.”
+ Ath p781 Ag 22 ’19 1000w