T HE Report of the Commission on Money and Credit' makes many excellent recommendations, particularly in the area of banking and financial institutions and monetary and fiscal policy. It is weak in some areas, particularly in the international sphere. This review consists mainly of a summary of some of the most important recommendations of the CMC (Section III), and an evaluation of them (Section IV). The first two sections discuss, respectively, the background and general nature of the CMC Report, and the policy goals stated by the CMC.