The Art of Central Banking – Ralph Hawtrey (1933) | Session 2

Welcome to our discussion of Chapter IV – The Art of Central Banking (from Ralph Hawtrey's book with the same title). For this session, we will be focusing on the following sub-chapters (pages 174 – 302):

The Gold Standard
External Investment
International Short-term Investment
The Financing of International Trade
The Value of Gold
Gold Reserves
London and the Trade Cycle
Stabilisation in the United States, 1922-28
Gold and Money since 1914
The Depression of 1929-1931
The Crisis of 1931
Mutual Support of Central Banks
Special Responsibilities of London
The American Position
The Responsibility for the Depression and Crisis
The Conditions of Future Stability
Gold Reserves
Stabilisation without Gold
Central Banks and Inflation
An International Central Bank