Introduction

Originally published in 1931, this book was written at a time when the utility and value of gold was under great scrutiny. Global financial circles were discussing the necessity of reducing the price of gold, pressing for the return of Britain to a gold standard and imposing a managed currency. Against a background of post-war monetary and financial dislocations, the author argues that the unique monetary quality of gold is its liquidity, and its universal acceptability as a natural form of money throughout the world.