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Formed at the governments at introduction of this scheme) the boom would be almostIt is undoubtedly stopped by circulation compression till the moment of an exhaustion of reserves.
As it was already marked, such scheme looks difficult, but actually it
It is extremely simple in operation. In particular, to the monetary authorities or the government
It would be not necessary to dispose directly of many at all The goods which are a part of monetary unit. As the tax of the required Range of warrants, and the valid warehousing of the goods was possible Easy to grant the private initiative. Experts-brokers soon
Would take care of the tax and the offer of warrants, as soon as their cumulative
The market price would fall though hardly below a norm price, and also about withdrawal and
Redistribution of warrants on the various markets, if their aggregate exercise price
It was lifted above the standard. In this respect activity of the monetary authorities
Would be same mechanical, as purchase and sale of load at gold The standard.
The given offer, however, puts many problems which it is impossible Completely to consider in our short sketch. On all occasions, in already
The mentioned publications most important of them have been discussed and put forward
Offers under their practical decision. We will mention only some questions:
Expenses for physical storage of the goods can be covered from a difference between
The prices on which the monetary authorities begin to purchase and sell the commodity
Sets. (It is necessary to notice that carrying charges would not include any expenses
On the interest payment as loss of interest would be born voluntary by holders
The money manufactured under the goods.) a problem generated by structure of monetary unit
And its periodic changes which become necessary, also it is possible
To decide by means of the objective principle removing it from sphere of the political
Disputes. Also do not cause insuperable difficulties the problems connected with
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