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From: radford@calgary.UUCP (Radford Neal)
Newsgroups: net.politics.theory
Subject: Re: The gold standard.
Message-ID: <990@calgary.UUCP>
Date: Tue, 19-Feb-85 21:08:10 EST
Article-I.D.: calgary.990
Posted: Tue Feb 19 21:08:10 1985
Date-Received: Fri, 22-Feb-85 21:36:09 EST
References: <613@ukma.UUCP> <> <1600@bmcg.UUCP> <672@ccice5.UUCP>
Organization: University of Calgary, Calgary, Alberta
Lines: 13

> Our local PBS feed is running an English series called "The Great Depression".
> Last week's episode explained how Britain's return to the gold standard after
> WWI actually heavily contributed to it's depression (which started before
> our's).  I suggest this show for anyone interested in that period.

My understanding is that Britain after World War I tried to return to
the gold standard AT THE PREVIOUS POUND-GOLD CORRESPONDENCE. During the
war they had left the gold standard inorder to finance the war through
inflation. Returning to it afterwards was a reasonable thing to do, but
trying to undo all the previous inflation was not reasonable.

     Radford Neal
     The University of Calgary