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The Value of Money
img img The Value of Money img Chapter 37 THE VOLUME OF MONEY AND THE VOLUME OF TRADE-TRADE AND SPECULATION No.37
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Chapter 37 THE VOLUME OF MONEY AND THE VOLUME OF TRADE-TRADE AND SPECULATION No.37

In proving that an increase of money must proportionately increase prices, it is necessary to prove that the volume of trade is independent of the quantity of money and credit instruments by means of which trade is carried on. Money on the one hand, and quantity of goods to be exchanged on the other, are the two great independent magnitudes, whose

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