584 



TRANSACTIONS OF SECTION P. 



the Home Government and the Dominion Governments and the Dominions 

 inter se to co-relate the work of the different emigration agencies and to 

 endeavour fo check the loss to the Empire of men settling in foreign countries. 



The time has come when the whole problem of emigration and settlement 

 should be approached scientifically and an attempt be made to bring order out 

 of the present chaos. 



3. Employment of Disbanded Members of H.M. Forces. 

 By Captain R. Walker. 



FRIDAY, SEPTEMBER 10. 

 The following Eeport was discussed : — 



On the Effects of the War on Credit, Currency, and Fi)iance. — Report 

 of a Conference called by the Organising Comviittee of Section F, 

 consisting of Professor W. E. Scott (Chairman), Mr. J. E. Allen 

 (Secretary), Sir Edward Brabrook, C.B., Professor C. F. 

 Bastablb, Dr. A. L. Bowley, Mr. Austen Chamberlain, M.P., 

 Archdeacon Cunningham, Professor L. R. Dicksee, Professor 

 E. C. K. Conner, Mr. Francis W. Hirst, Professor A. W. 

 KiEKALDY, Mr. D. M. Mason, M.P., Professor J. Shield 

 Nicholson, and M. E. Sykes. 



The Organising Committee of Section F decided tlut a Report on the Effects 

 of the War on Credit, Currency, and Finance should be submitted at the 

 Annual Meeting. In order that this Report should be as full as possible it 

 was considered essential to invite the co-opei'ation of a number of experts 

 from the City, and accordingly it was decided to proceed by means of a 

 Conference rather than by the usual Research Committee. Of the original 

 members Mr. Austen Chamberlain took part in the early deliberations and gave 

 most valuable help. He retired on his appointment as Secretary of State for 

 India. Professor Bowley resigned on undertaking work for the Ministry of 

 Miuiitions.'' The Organising Committee desires to thank those who devoted 

 themselves to the making of the specialised investigations which were required, 

 many of which involved great labour and the placing of valuable personal and 

 business experience at the disposal of the Conference. 



The method of investigation adopted was to divide the whole inquiry into 

 four heads, namely : (1) The Direct Effect of the War on Credit. (2) JPublic 

 Borrowing as Affecting Credit. (3) War Measures and Currency. (4) War 

 and the Mechanism of Foreign Exchanges. Memoranda on these and related 

 subjects were invited from the members of the Conference and from others. 

 These Memoranda were circulated amongst the members with the request that 

 they would return them, with comments, to the Secretary. 



Memoranda were contributed by the following :— 



Professor Bastable, 



Sir Edward Brabrook, C.B., 



Mr. E. J. Davies, 



Professor Dicksee, 



Mr. E. L. Franklin, 



Mr. Drummond Eraser, 



Mr. A. H. Gibson, 



Dr. C. K. HoBSON, 



Mr. Joseph Kitchin, 

 Mr. Robert Lumsden, 

 Mr. D. M. Mason, M.P., 

 Mr. S. Metz, 



Professor J. S. Nicholson, 

 Sir R. H. Inglis Palgrave, 

 Professor Scott, 

 Mr. W. F. Spalding. 



F.R.S. 



Further, the main headings were divided into nineteen sub-heads. 



" Mr. Chamberlain and Dr. Bowley resigned before the Report was drafted, 

 and therefore have no responsibility for it. 



