ABSTRACT
The nature of the Currency Revolution effected by the United States in 1922. The Revolution had been foreshadowed at the Genoa Currency Conference held early in 1922. The gold standard had hitherto been concerned with the stabilisation of the international exchanges. The Genoa Conference recommended that it should be equally concerned with the stabilisation of prices or of purchasing power. The traditional gold standard policy having been abandoned, it was necessary to decide what was to be the main objective of the new transformed standard. The fiscal policy of the United States accentuated the divergence between the new dollar stabilisation standard and the traditional gold standard. The prosperity of the United States continued as long as its destinies were under the control of the genius of Governor Strong. With Governor Strong's death, the United States reverted to a vacillating policy based on a confused appreciation of the methods of operating the traditional gold standard.
