This book is a detailed examination of the French international accounts made with a view to testing and verifying the theory of international trade, especially as regards the mechanism of adjustment. In the light of this instance, the neo-classical theory is critically examined, and some necessary modifications are considered. The importance of gold movements and capital exports in the French accounts renders the analysis of special significance to students of international trade. For the historian of pre-war French economics, the specially constructed price indices and the computation and evaluation of the changing terms of trade under which France exchanged her imports for her exports, as well as the discussion of the various items entering into the balance sheet, are significant.