... The procedure should rather be simply as follows: So long as prices remain unaltered, the banks’ rate of interest is to remain unaltered. If prices rise, the rate of interest is to be raised. ... and likewise mutatis mutandis if the price level falls.
(p.189) To make this possible, Wicksell suggests the suspension of the free coinage of gold, as a “first step towards the introduction of an ideal standard of value” – ”an international paper standard” (p.193).