ABSTRACT
It cannot be emphasised sufficiently that the various schools of monetary reform to a very large extent overlap one another. As we have already pointed out, the expansionists of various classes are usually in favour of a cheap money policy and are usually opposed to the stabilisation of currencies in relation to gold. Many of them, though by no means all, also favour monetary management. Indeed, scientific expansionism necessarily implies monetary management. It is only pseudo-scientific and frankly unscientific reformers who consider expansion as a perpetual tendency which should never be checked, let alone reversed. To their mind, expansionism is essentially a one-way street, and they seriously believe in the possibility of never-ending non-stop expansion. The only kind of management they may conceivably have in mind is some regulation of the degree of expansion, so as to prevent it from getting out of control.
