THE  MACMILLAN  COMPANY
Publishers  64-66  Fifth  Avenue  Hew  York

The  Value  of  Money

By  B.  M.  ANDERSON,  Jr.,  Ph.D.
Assistant  Professor  of  Economics,  Harvard  University
Author  of  “  Social  Value  ”

Cloth,  izmo,  $2.25

Convinced  of  the  fact  that  the  value  of  money  cannot  be  studied  successfully ­
  as  an  isolated  problem,  the  author  of  this  text  considers  virtually
the  whole  range  of  economic  theory  in  connection  with  the  conclusions
he  reaches  concerning  the  central  problem  of  this  book.  The  following
topics  are  discussed:  the  general  theory  of  value;  the  role  of  money  in
economic  theory  and  the  functions  of  money  in  economic  life;  the  value
of  money  in  relation  to  the  law  of  supply  and  demand,  in  relation  to  the
doctrine  of  cost  of  production,  and  in  relation  to  the  capitalization  theory;
the  theory  of  the  values  of  stocks  and  bonds,  of  “  good  will,”  established
trade  connections,  trade-marks,  and  other  “intangibles”;  the  theory  of
credit,  including  the  relations  of  credit  to  value  and  of  credit  to  money;
the  causes  governing  the  volume  of  trade,  and  particularly  the  place  of
speculation  in  the  volume  of  trade;  the  relation  of  “static”  economic
theory  to  “  dynamic  ”  economic  theory.
In  addition  to  the  theoretical  matter,  which  is  keen,  original  and  most
ably  presented,  there  is  a  large  amount  of  new,  unpublished,  practical
material  regarding  the  workings  of  the  stock  market,  the  money  market,
the  general  range  of  speculation  and  the  measurement  of  the  volume  of
trade,  etc.
The  book  will  be  of  interest  to  college  and  university  students,  especially ­
  in  view  of  the  fact  that  the  economic  theory  which  it  advances  is
a  challenge  to  the  existing  theories  on  the  subject.