ABSTRACT
98 STABILISATION to materialise without the minimum amount of planning that was necessary. It did not occur to anybody to consider whether the rate of stabilisation chosen by one country or another would not produce grave repercussions upon the situation of other countries. It did not occur to anybody to examine whether the wholesale adoption of the gold standard by the largest possible number of countries would not produce a scramble for gold with disastrous results. Nor did it occur to anybody that at the rates of stabilisation chosen, the burden of the public debt might prove unbearably heavy. " Stabilise as soon as possible at no matter what rate " was the password, and nobody worried about the consequences.
