104
Capitel V.
Allem schon die Vorstellung als unbegründet, dass
jede Vermehrung des im Umlauf befindlichen Gel-/rt/.v.
‘ ‘ Reply toM^ Bosanquets practical observations etc. (1811)
p. 376.: ,,T h at com modi tie s would rise or fall in price,
in proportion to the increase or diminution of money,
I assume as a fact which is incontrovertible.*^ Principles
p. 80: the abstraction of money from one
country and the accumulation of it in another, all
commodities are affected in price.**
J. W. Gilb art, Works vol. IV. 1866. Currency and banking
p. 294 ff. : >,The way in which an increase of money
tends to advance prices, is by increasinp; the demand:
an increase of money gives men the means and the inclination
of purchasing an additional quantity, either for consumption
or speculation, and the increased demand advances the
price.** — ,,//e conclude then, that an abundance of money has
a tendency to raise the prices of commodities. That when we contend
that an increase in the quantity of money has a tendency to raise
the, prices of commodities, we must be understood to mean that the
quantity of commodities remain the same as before.**
J. Stuart Mill, Princ. B. III. Cli. VII. p. 297: ,,money is
a commodity and its value is determined like that of
other commodities temporarily by demand and supply.**
p. 298: „The value or purchasing power of money depends, in the first
instance, on demand and supply.** — ,,/n point of fact, money
is bought and sold like other things, whenever other
things are bought and sold for money. The money with which
people are offering to buy is money offered for sale**. — „The supply
of money, then, is the quantity of it which people are wanting to
lay out, that is, all the money they have in their possession, except
