"Our reliance in this country is on the inquiring, individual human mind. Our strength is founded there; our resilience, our ability to face an ever-changing future and to master it. We are not frozen into the backward-facing impotence of those societies, fixed in the rigidness of an official dogma, to which the future is the mirror of the past. We are free to make the future for ourselves."

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In truth, the gold standard is already a barbarous relic. All of us, from the Governor of the Bank of England downwards, are now primarily interested in preserving the stability of business, prices, and employment, and are not likely, when the choice is forced on us, deliberately to sacrifice these to outworn dogma, which had its value once, of 3 pounds, 17 shill ings, 10 1/2 pence per ounce. Advocates of the ancient standard do not observe how remote it now is from the spirit and the requirements of the age. A regulated nonmetallic standard has slipped in unnoticed. It exists.

— John Maynard Keynes