CHAPTER XIV

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