CHAPTER XVI. The Quantity Theory and International Gold Movements

THE QUANTITY THEORY AND INTERNATIONAL GOLD MOVEMENTS

Quantity theory holds that gold movements depend on price-levels; but price-level mere average, cause of nothing 315-316

Some prices, rising, tend to repel gold, but most prices have no such effect 316-317

Some prices, rising, bring in gold 317-319

Gold movements and money-rates 319-320