URING the last two decades a number of proposals have been made relating variously to the storage of surplus commodities, the use of basic commodities as backing for money, and the stabilization of the price level.' The more pertinent of the ideas contained in these proposals have recently been synthesized in a plan for a commodity reserve currency, whereby monetary status would be given a composite group of primary commodities.2 Increasing efforts have been made to bring this plan to the attention of the public, and it has received favorahle attention from a number of nrofessional economists It is