Courtesy Reuters

LAST April the American and British Treasuries published two plans for monetary stabilization after the war, one the work of Harry D. White, Director of the Division of Monetary Research of the Treasury Department, the other of Lord Keynes, now serving as an adviser of the British Treasury. Since I commented on the two plans in these pages last summer [i] several events have occurred which might indicate that the present is not a good moment to continue the discussion. In July there appeared a Canadian plan which was in the nature of a compromise between the other two. In August

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