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- Title
INTERREGIONAL PAYMENTS.
- Authors
Hartland, Penelope C.
- Abstract
This article presents information on the reasons responsible for differences in the operation of a gold standard internally and internationally. During the 1930's, the period when other countries, particularly the agricultural countries, had balance-of-payments problems, the agricultural sections apparently had an unfavorable balance of trade. Treasury funds, however, moved toward the agricultural areas in response to the government policy of supporting farm prices. Thus, the agricultural sections of the U.S. were more fortunate than the agricultural countries in South America and the Balkans during the same period. The policies of the federal government implemented by the financial activities of the treasury caused their reserves to be replenished, making it possible for them to maintain a balance-of- payments equilibrium and also a certain level of consumption. It is opined that government policy need rarely, if ever, be concerned with interregional balance-of-payments problems, since such problems automatically take care of themselves through factor mobility.
- Subjects
UNITED States; GOLD standard; MONETARY systems; BALANCE of payments; FOREIGN exchange; BALANCE of trade
- Publication
Quarterly Journal of Economics, 1950, Vol 64, Issue 3, p488
- ISSN
0033-5533
- Publication type
Article