ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Mending World s Money

INTERNATIONAL MONEY is in a maelstrom once again. As President Nixon sadly remarked, there has been an international currency crisis every other year with unfortunate regularity. This time, however, the crisis is the more serious in that the sparring to which the dollar was subjected in the previous crises has now given way to all-out attack on it. It is all very well to blame international money speculators. One does not need to hold a brier for speculators but it cannot be denied that speculation thrives on lack of credibility. And confidence in the ability of the dollar to maintain its value has, to put it mildly, not been high.

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