ABSTRACT
Having examined all the important monetary reform proposals, and having sought to reconcile them with one another, it remains for us to examine the place which monetary reform occupies, or should occupy, in the economic system. Evidently, monetary reform is not, or should not be, an end in itself. It is to be regarded as a means to the ends of accelerating progress, eliminating setbacks and improving the standard of living. The main criticism against the orthodox monetary school is that it is prepared to sacrifice progress for the sake of upholding its monetary doctrines. Would-be reformers should avoid this particular error at all costs. It would be deplorable if all that monetary reform could achieve were the substitution of one kind of monetary doctrinairism for another kind of monetary doctrinairism.
