ABSTRACT
The monetary reform movement, which had been of almost negligible extent in the immediate pre-war years, began to make itself felt during the post-war period. Its progress was, however, slow. But for the advent of the world crisis, both public opinion and the majority of expert opinion would have continued to regard most would-be reformers as essentially eccentric creatures, and the number of their following would never have risen sufficiently to have made them a factor in public opinion. The development of a strong movement in favour of monetary reform was due largely, if not exclusively, to the world crisis. The experience of 1931 and subsequent years threw discredit on the orthodox monetary conception. It aroused strong dissatisfaction with the monetary system which, it was considered, had been responsible for our difficulties.
