CHAPTER XIV. The Volume of Trade and the Volume of Money and Credit

THE VOLUME OF TRADE AND THE VOLUME OF MONEY AND CREDIT

Interdependence of trade, and money (and credit); increasing trade causes increase of money and credit 279-281

Quantity theory doctrine: Fisher vs. Laughlin 281-282

Quantity theory has no explanation of elastic bank credit: "Currency Theory" of deposits 282-285

Loans and deposits 285-288

Bills of exchange 288-290

Summary of quantity theory doctrine 290-291