WAR-TIME FINANCIAL PROBLEMS by HARTLEY WITHERS Works by Hartley Withers THE BUSINESS OF FINANCE. 6s. net. Second Impression. "He treats of the subject mainly in its relation to industry, and smooths the path for those who find the way rather thorny. Timely and instructive."--_Financial Times_. OUR MONEY AND THE STATE. 3s. 64 net. Second Impression. "It should be read at once by every taxpayer. Mr. Withers' latest book can be most heartily commended,"--_Morning Post_. STOCKS AND SHARES. 6s. net. Fifth Impression. "It is a good book, it is sure of its public."--_Morning Post_. THE MEANING OF MONEY. 6s. net. Eighteenth Impression. "Will supersede all other introductions to monetary science; a safe and indispensable guide through the mazes of the Money Market."--_Financial News_. MONEY CHANGING. 5s. net. Second Impression. "Mr. Withers makes the topic interesting in spite of its obvious and irrepressible technicality. Occasionally he renders it really amusing."--_Financial News_. POVERTY AND WASTE. 6s. net. Third Impression. "Views its subject from the advantageous position of an impartial observer, the respective cases for capital and labour, rich and poor, being brought to the reader's attention in a convincingly logical manner."--_Financial Times_. WAR AND LOMBARD STREET. 6s. net. Fourth Impression. "Nothing could be clearer or more enlightening for the general reader."--_The Times_. INTERNATIONAL FINANCE. 6s. net. Third Impression. "We heartily commend a timely work dealt with in popular and simple style, a standard financial work."--_Morning Post_. LOMBARD STREET, 6s. net. Third Impression. A Description of the Money Market, by WALTER BAGEHOT. Edited with a new Preface by HARTLEY WITHERS. "There is no city man, however ripe his experience, who could not add to his knowledge from its pages."--_Financial News_. "Blest paper credit! last and best supply! That lends Corruption lighter wings to fly: Gold imp'd by thee, can compass hardest things, Can pocket States, can fetch or carry Kings; A single leaf shall waft an Army o'er, Or ship off Senates to a distant Shore; A leaf, like Sibyl's, scatter to and fro Our fates and fortunes, as the winds shall blow; Pregnant with thousands flits the Scrap unseen, And silent sells a King, or buys a Queen." POPE, _Moral Essays_. PREFACE At a time when Finance is of greater importance than ever before, it is hoped that this small volume may be of interest and value to the public, and help the application of war's lessons to the problems that face us in peace. The contents, with the exception of the last article on "Money or Goods?" (which appeared in the Trade Supplement of the _Times_ for December, 1918), have already been published in _Sperling's Journal_, from September, 1917, to March, 1919; they have been left as they were written, except for a few verbal corrections.