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The Gold Standard Is A Proven Success (Int'l Edition)


International -- Readers Report

THE GOLD STANDARD IS A PROVEN SUCCESS (int'l edition)

Like most of the time when it comes to gold in monetary discussion, the antis are talking impatiently and irrationally. Rudi Dornbusch proves it once more in his column "Back to the gold standard? Only in Steve Forbes's dreams" (Economic Viewpoint, Feb. 19).

He should review his history. The success of the gold standard and the stability of the purchasing power of money is a proven fact--for two and a half centuries (if we start in 1694) in England and Scotland, for more than a century in France, and hardly less than one in the U.S. So, where is the myth? What is the comparative record of flat currency systems?

Further, there is no better way than a gold anchor to nip any expectations of inflation in the bud and obtain the lowest yield curve you can have in given financial circumstances.

You cannot have an honest world market order with bureaucratic flat currencies. A gold standard is not only the best way to denationalize money. In fact, it is just the normal conclusion of a laissez-faire program.

Bernard Cherlonneix

ParisReturn to top

WEBLESS IN SAUDI ARABIA (int'l edition)

After reading "The intranet" (Special Report, Feb. 26), I want to share some of the frustration that several U.S. government employees and citizens have expressed to me about being "out of touch" with their government and unsatisfied with the customer service available. As a U.S. military adviser to Saudi Arabia, I am working in a country with limited communications capabilities. I know of services provided over the World Wide Web by the Defense Dept. that would be useful in my job, but there is no WWW access here. An intranet could empower embassies, consulates, and overseas military commanders. It could also link all U.S. government agencies regardless of the host country's communications capabilities, and it could streamline government procurement methods.

Lieutenant Cal T. de Mer

Jeddah, Saudi ArabiaReturn to top

COMMENDABLE OBJECTIVITY IS NOT BIAS (int'l edition)

In recent weeks, you have been the recipient of a plethora of letters from conservatives criticizing editorials and other features as having a liberal bias. But you should be commended for your objectivity. Though you are a spokesman for Big Business, you offer views on both sides of the political spectrum.

Bert J. Snelgrove

Barrie, Ont.Return to top


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