International Market and Central Bank Policies on the Eve of the First World War.

到目前为止，国际金本位制一直是金融理论或国际经济学研究的主题。我们的联合研究虽然与之前的研究并不矛盾，但源于对第一次世界大战前夕世界经济结构变化的理论关注。最近，从各种角度重新审视了这一时期的古典帝国主义。会议提出的主要问题涉及世界市场的多元化结构或“异质组合”，每个国家都有自己的内部结构，并扮演着一定的国际角色。在这项研究中，我们突出了国际金融的方面，探讨了世界市场的结构。为了探讨世界市场的整体结构，我们有各种各样的参与者：英国、法国、德国和美国等核心资本主义国家的专家；俄罗斯、奥匈帝国、意大利和日本等外围资本主义国家的专家；印度作为外围附属地的一些专家。在分析的重点、应处理的时期等问题上，我们达成了一些共识。选择的时期是1900-1914年，也就是国际金本位制的全盛时期。分析的重点放在央行和其他货币机构采取的政策上。通过这样限定分析范围，我们考察了由国际地位和内部条件决定的各国金融结构的特点，以及金本位下的国际金融市场结构，考虑到问题的全面性和方法上的一致性，我们可能不得不将这一研究视为对整个问题的临时分析。在未来的研究中，我们将对本研究中提出的论点进行扩展和综合。

The international gold standard has been hitherto studied as a theme in financial theory or international economics. Our joint research, though not contradictory to the previous studies, arose from theoretical concern with the changing structure of the world economy on the eve of World War <I> . Recently, this period of the classical imperialism has been re-examined from various viewpoints. The principal problems raised there are concerned with the pluralistic structure or 'heterogeneous composition' of the world market into which each country, having its own internal structure and playing a certain international role, was integrated.In this research, highlighting the aspect of international finance, we have approached the structure of the world market. In order to inquire into the whole structure of the world market, we have had a vast range of participants :specialists in core capitalist countries such as Britain, France, Germany and U. S. ; those in peripheral capitalist countries such as Russia, Austria-Hungary, Italy and Japan ;some in India as a peripheral dependent region. We have reached some common understandings over such problems as the focus of analysis and the period we should deal with. The period chosen was the years 1900-1914, i. e., the heyday of the international gold standard. The focus of analysis was placed on policies taken by central banks and other monetary institutions. By confining the scope of analysis this way, we have examined the characteristics of each country's financial structure, which was determined by its international position as well as internal conditions, and the structure of the international financial market under the gold standard.Considering the comprehensiveness of the issue and the required consistency in approaches, we may have to regard this research as a provisional analysis of the whole issue. In future studies, we are to extend and synthesize arguments presented in this research.