For years, National Socialism has called for Germany to give up the gold standard:
The economic effects of departing from the gold standard are most clearly shown by England’s departure from the gold standard.
According to Nr. 4, Part A of the semi-official Vierteljahrshefte für Konjunkturforschung:
“While the contraction process continued in other countries, the process came to a halt in the fourth quarter — after a slowing down had already occurred. Production, imports of raw materials, and exports increased. This is the result of freeing the pound from the gold standard, and the resulting change in the value of the pound.”
Giving up the gold standard, therefore, had the best consequences imaginable for the English economy. Within the framework of its emergency program, therefore, National Socialism demands the introduction of an equalization fee (foreign currency tax) for those countries that have given up the gold standard, or else reduced the exchange rate of their currency during the post-war period in comparison to its value before the war. The equalization fee will bepaid by those who import goods and will be credited to those who export goods.
Objection: Giving up the gold standard means inflation, according to the bourgeois-Marxist press.
Response:England gave up the gold standard on 21 September 1931. The pound’s rate of exchange fell by 70%, but the domestic purchasing power of the pound remained unchanged. According to Nr. 4, Part A, page 16 of the semi-official Vierteljahrshefte für Konjunkturforschung (volume for 1931/32):
“There were only slight increases in prices. Up to November, wholesale prices increased by about 8%, then declined as a result of developments on the world market. Thus, after a temporary increase, prices fell again. The increase in wholesale prices was largely due to adjustments resulting from prices determined abroad to the revaluation of the pound. Domestic prices were either not affected at all, rose only slightly, or even declined.
G. Bank and credit policy