It is true that more credit is required by industry
and that industry is justified in looking to the Bank of England for it, but that surely need not imperil: the gold standard. The gold standard may seem to be - a kind of brutal accident or Arbitrariness that is, called in blindly .to control the financial deeds of men ; but it is just because it is beyond the range-of human manipula- tion to any serious extent that it is• a safe standard, A managed currency would be subject • to every kind of political. strain and _motive, No Government in a jd financial hole could be trusted to be just -to Government_ nation, at the expense of their own reputation if they knely- that they could stave off disgrace by inflating Ow currency. In this connexion. we may mention. that the Norwegian Government have ,announced that they will return to the gold standard on May 1st. Thus the whole of Scandinavia has returned to. the fold, „ ,
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