国际贸易会在各国之间形成一种货币关系，因为一个国家在进口商品时，必须用出口国的货币或该国可以接受的货币来支付商品价款。

Foreign trade generates a monetary relationship between countries, because a country would have to pay the price of commodities with the currency of the country she had imported from, or with a currency acceptable to that country.

一个国家在出售商品时，也必须以其本国货币或其所选择的货币收取款项。正是这种情况，在各国之间建立起了货币关系。

A country would also have to receive payment for commodities she sells in her own currency or in the currency of her choice. This is what generates a monetary relationship between various countries.

还有商品的交换，即有形的进口和出口。此外还有服务的交换，即所谓的无形进口和出口，其中包括各种运输，如货运和客运、国际航运和航空货运、邮政费用、国际电报和电话费用、各类商业服务，以及所有佣金和经纪费用，还包括与旅游业有关的一切服务。当游客前往外国时，他在那里花费部分收入，同时也会随身携带一部分财产。然而，他会从本国带走能够使其在所访问国家消费的东西，或者是通过事先约定在该国花费特定数额的该国货币，由其本国以本国货币予以支付；或者是约定花费一定数额为该国所接受的货币，但以其本国有此种货币为前提。

There is also the exchange of commodities or visible imports and exports. Additionally there is the exchange of services or what are known as invisible imports and exports, these include all types of transport, such as cargo and passenger transport, international shipping and air freight, postal charges, international telegraphic and telephone costs, all types of commercial services, and all the commissions and brokerage charges, as well as all services related to the tourist industry. When a tourist visits a foreign country, and spends some of his income there, He would also be taking some of his property with him. He would however, be taking from his country that which would enable Him to spend in the country He is visiting, either by way of a prior arrangement to spend a specific amount of that country’s currency, which his country would undertake to cover with her own currency, or an arrangement to spend a sum of a currency that is acceptable to that country, subject to the availability of such a currency in his country.

为了支付进口商品的费用，我们可以用本国货币购买外币，也可以在外国出售商品以换取其货币。因此，获取外币对于国家而言至关重要，它是与其他国家建立贸易关系或经济往来的必要条件。

In order to pay for the cost of imports, we may either offer our local currency in order to buy foreign currency, or commodities may be offered in foreign countries in order to obtain their currencies. The acquisition of foreign currency is therefore essential for the State in order to generate trade relationships, or economic relationships with other countries.

然而,国家的货币不应仅为了建立贸易或经济关系而使其面临不稳定,或损害其信誉。相反,我们对对外经济关系的控制——无论是贸易关系还是其他关系——应当成为这些货币关系的基本原则之一。这将有助于维护国家货币,同时使我们获得所需的外国货币。为了帮助实现这一政策,国家应当避免举借短期或长期贷款,因为这些都会造成国家货币市场的不稳定,并可能降低其货币的价值。

However, the state’s currency should not be jeopardised by making it susceptible to instability, or by undermining its credibility, just for the sake of establishing trade or economic relationships. Rather our control over foreign economic relationships, whether these were trade relationships or otherwise, should be one of the fundamentals of these monetary relationships. This would facilitate the preservation of the state’s currency and, at the same time, our acquisition of the foreign currencies that are needed. In order to help achieve such a policy, the State ought to avoid taking up short or long term loans, for these would be one of the matters that cause instability in it’s currency market and may decrease the value of it’s currency.