CONTENTS 1
．Money，Currency and Foreign Exchange 1 1
．The Money Systems of the United States and Great Britain 8 2
．The Rate of Exchange 14 3
．The Mint Parity and the Purchasing Power Parity 23 4
．Inflation，Deflation，Reflation，Stagflation 30 5
．Balance of Payments and Exchange Rates 39 6
．Leads and Lags 48 7
．Money and Foreign Exchange Markets 54 8
．Foreign Money Markets 63 9
．The External Dollar Markets 71 10
．International Banking Facilities 82 11
．Spot and Forward Exchange Markets 89 12
．Arbitrage 96 13
．O？ial Intervention 102 14
．International Monetary Systems before Bretton Woods 109 15
．The Road from Bretton Woods 117 16
．The Collapse of the System of Fixed Rates 125 17