第429页 Gold Fetters

In other words, Britain's problem was not its budget deficit, but rather that it clung to the role of banker to the world without having the money or the resources to do so and at a time when most of the world was a damn poor risk.
一战后黄金大量流入美国以及法国，而英国则是黄金净流出，英国在此情形下继续坚持金本位，使得自己的资金捉襟见肘，以致不得不通过打救济金的主意来保持政府预算平衡，这在作者看来完全是没抓住问题的根本。其实也许不是当时英国人看不到问题根本之所在，而是不愿意面对帝国地位不再的事实罢了。