chapter  X
WithBarthold A. Butenschøn
Pages 4

While "Orthodox Bimetallism" establishes a fixed value relation between silver and gold, Symmetallism establishes a fixed quantity relation between the metals, and this relation is liable to alterations. The Symmetallic Central Banks are in a position to exercise a direct influence on the supply of metals and thus on the increase in the value of the stock of metals. The Central Banks, as a whole, can therefore compose their stock of metals in the proportions they desire. The Banks buy the metals at the prevailing market prices, based on supply and demand. Mr. G. D. H. Cole objects to Symmetallism that it is "doubtful whether a Symmetallic Standard possesses the necessary quality of being readily intelligible by the ordinary person." In the event of the Symmetallic Banks being strong enough to have virtual control over the silver market, they will be able to dampen down fluctuations in the value relation.