Proceedings of the ... Annual Convention of the American Bankers' Association
Proceedings of the ... Annual Convention of the American Bankers' Association
American Bankers Association. Convention
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We have statistics which also indicate this. We find, for instance, that, before the war and during the war, countries that have like monetary standards have like price movements, that, for instance, all gold standard coimtries (so long as they keep the gold standard in operation) have prices moving in sympathy. We find silver stand- ard countries experiencing like sympathetic price movements. We find however a great contrast between the price movements in gold standard coimtries and in silver ...standard countries. We find also that price movements bear a certain relation to the quantity of money and credit. We find for instance that the first price increase of any consequence in this coimtry after the outbreak of the war began in the fidl of 1915, one month after the first big importation of gold into this country. We find later, when the gold import suddenly stopped, that, within a few months, the rise of prices also stopped to start up again in obedience to a fresh importation of gold.
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