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- Title
Reply to Hortlund's "Defense of the Real Bills Doctrine.".
- Authors
TIMBERLAKE, RICHARD H.
- Abstract
The article discloses a response to the "Defense of the Real Bills Doctrine," by Per Hortlund. The author states that Hortlund defends the gold standard applied in the U.S. dollar as not a factor causing the 1929-1933 Great Depression and that the Real Bills Doctrine (RBD) sought to ban conversion of government debt to cash. The author, however, questions the defense of the RBD, wherein he states through the concept of Benjamin Strong that monetary control based by a gold standard must be permanent.
- Subjects
MONEY laws; HORTLUND, Per; DOLLAR; GREAT Depression, 1929-1939; PUBLIC debts; STRONG, Benjamin
- Publication
Econ Journal Watch, 2006, Vol 3, Issue 2, p393
- ISSN
1933-527X
- Publication type
Article