THE PAST AND FUTURE OF EXCHANGE CONTROL.

The article discusses the purposes of exchange control. The author classified the aims of the study to seven categories. Foreign debts under exchange control have been discussed. There is an administrative experience on exchange control depicted in the article. In Germany, exchange control served from the late autumn of 1931 to the latter part of 1932 as a medium-term device to support the Reichsmark while a deflationary adjustment to world prices could be pressed further. No effect of exchange control surpasses in relevance its reduction of the value of international trade. The theory of exchange control is presented.