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The conundrum, paper currency with or without gold backing is almost as old as the paradigm of economic theory itself. Rees-Mogg introduces the problem with a 19 page review of economic history. His discussion ultimately focuses on the revolution in macro-economic management introduced by Keynes and the ensuing controversy about 'monetarism' particularly as associated with Milton Friedman amongst others.The remainder of his three volumes (900 odd pages) is a selection of essays by some of the more distinguished economic theorists from 1601 thru to 1965. It includes such authors well known to most students of economics as John Locke, David Hume, Thomas Malthus, David Riccardo, John Stuart Mill, Stanley Jevons, Knut Wicksell and Fred Hirsch amongst others. Controversy about this work may well centre on the selection of authors and a paucity of work (2 only) from the post Keynes era. Work from the pen of Keynes and Friedman is not included, although this may be justified by the view that they are very recent, and readily available elsewhere . Ultimately a reference for those into economic history and/or the controversy about paper currency being exchangeable for its face value in gold.Ron Percival. Moree, Australia.