Money

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Monograph

Identifikator:: 1819853969

URN:: urn:nbn:de:zbw-retromon-207464

Document type:: Monograph

Author:: Cannan, Edwin http://d-nb.info/gnd/118666916

Title:: Money

Edition:: 6. ed.

Place of publication:: [London]

Publisher:: King

Year of publication:: 1929

Scope:: XII, 120 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Further elucidations

Collection:: Economics Books

72 MONEY to *occupy” or use farms and houses, both new and old. Under Supply we found that currency belonged to the class of things of which the supply can conveniently be taken to be the quantity in existence, and now, under Demand, we may think of currency as being demanded by people who want to hold it rather than to consume it. This idea of the demand for currency coming from the holders runs through the whole of the First Part of the present book, and is most important to the argument put forward there. But it appears very strange to all who have been brought up to believe that the demand for currency is furnished by the number and amount of the transactions effected. That belief seems to me to be exactly equal to a belief that the demand for houses comes not from the people who want to live in houses, but from people who buy houses and sell them again forthwith. The effective demand for houses evidently comes from those who want to hold houses: even the speculator wants to hold for a time. Mere activity in the house market ”’—a little more changing ownership than usual—only involves an increase of demand in the same sense as it involves an equal increase of supply which cancels it. Whatever may be said about the actual use of the terms, it is clear that the demand which is important as affecting the value of the houses is the demand for occupation. Similarly, more transactions for money—more pur- chases and sales of commodities and services—may in a sense be said to involve increase of demand for money, but in the corresponding sense it may be said to involve an equal increase of supply of money ; the two things cancel. The demand which is important for our purpose is the demand for currency, not to pay away again immediately, but to old. Just as you are a less important demander of houses

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