Foreword

The work was published in 1935 as Money: The Human Conflict. In the interval the vast currents set in motion by the fiscal policies of the New Deal and the torrents raised by World War II created a new monetary landscape requiring its own geography. These developments led to the republication of the work in 1961 and again, in a revised edition, in 1967, under the present title. This present edition incorporates further revisions by the author in order to take account of more recent happenings. ELGIN GROSECLOSE Washington, D.C.