Because of war conditions the American dollar is at a serious discount
in all of the neutral countries of Europe and throughout the world,
notwithstanding the fact that the United States had a favorable balance
of trade of over three thousand millions last year, and ten thousand
millions since the war began.
It is important that American business men, American bankers, American
importers and exporters should understand this problem and the remedy
for it.
The problem is not really a difficult one. It is the purpose of this
little book to explain the problem; to show the factors entering into
it; to show the remedy and point the path and mechanism by which
to maintain the American dollar at par, and make it the medium of
international exchange and of international contracts.