ABSTRACT
It is no small thing to have obtained the unanimous consent of all the empire governments for the determination of the United Kingdom not to return to the gold standard until remedies have been found for the conditions which make it unworkable. The credit for making the first suggestion which led to the inauguration of a new currency system must be awarded to the Federation of British Industries. At Ottawa the Governments of the British Commonwealth took one step, though not a very pronounced step, towards resuming their full prerogative over the creation of money. The Ottawa Monetary Report was quite overshadowed by the tariff activities of the Conference. The Ottawa Monetary Report is a warning that, though Government will permit the banking system to continue to create bank money, it must provide it in adequate quantities, and at low rates of interest.
