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Pursues the same aims, as schemes of "the tabular standard" ("tabular standart")
Or "index currencies" ("index currencies") which at one time it is a lot of
Were discussed, differing from them direct and automatic action. Causes
Some doubts, whether it is possible to support a constant resistance barrier effectively
Any set of the goods by purposeful updatings of quantity of money.
There are no, however, doubts that an aggregate exercise price of the selected primary goods
Would not fluctuate, while the monetary authorities would be ready to sell and purchase
Commodity unit under the fixed price.
According to the American advocates of this plan, it is created first of all for
Acceptances in the state scale in the USA. However arguments in its advantage
Are applicable to other countries in not smaller degree. As acceptance of the such
The plan the several countries which have put in its basis different sets of the goods,
Would generate the new reason of serious instability it is represented that it
Not only it is possible, but for achievement of its objects in view followed accept
At the international level - or that in practice means the same, it
Should instal on identical principles all leading countries.
Concrete set of primary goods on which Benjamin's scheme is based
Graham (five kinds of the grain, four kinds of fats and vegetable oils, others three
The food product, four metals, three kinds of textile fibres,
Tobacco, skins, rubber and petroleum) and some other details would be subject
Updatings, however the principle does not create serious difficulties for
The international application. In a below-mentioned sketch of a method of functioning
This scheme the assumption that these commodity units of the identical will be made
Structure are accepted as a currency basis at least in British Empire and in the USA.
For the reasons which will be now presented, this plan is the most easier for entering in
Action at falling demand threat. During such time it can be started
Automatically, in advance having established a purchase price of an individual commodity set
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