88  Capitel  IV.
ten  Vorralh  an  Gütern  oder  Waaren  ein  Einfluss  auf
den  Zinsfuss  zugestanden  wird,  und  diese  Thesis  damit
begründet  wird,  dass  es  demjenigen,  der  ein  Darlehn
aufnehme,  nicht  sowohl  um  das  Geld,  als  vielmehr  nur
um  die  Güter  oder  Waaren  zu  thun  sei,  welche  er  sich
vermittelst  des  Geldes  zu  kaufen  vermöge'*^).

44)  Vgl.  schon  D.  Hume,  Of  interest:  ,,Those,  who  have  asserted, ­
  that  the  plenty  of  money  was  the  cause  of  low  interest,  seem
to  have  taken  a  collateral  effect  for  a  cause,  since  the  same  industry, ­
  which  sinks  the  interest  does  commonly  acquire  (¡¡real  abundance
of  the  precious  metals.  —  But  tho'  both  these  eßects,  plenty  of  money ­
  and  low  interest,  naturally  arise  from  commerce  and  industry
they  are  altogether  independent  of  each  other.  —  The  greater
or  less  quantity  of  money  in  a  state  has  no  influence
on  the  interest.  But  it  is  evident  that  the  greater  or
less  stock  of  labour  and  commodities  must  have  a  great
influence;  since  we  really  and  in  effect  borrow  these,
when  we  take  money  upon  interest.**
Hi  car  do.  The  high  price  of  bullion  etc.  p.  284:  ,,The
rate  of  interest  is  not  regulated  by  the  abundance  or
scarcity  of  money,  but  by  the  abundance  or  scarcity  of  that
part  of  capital  not  consisting  of  money.**
J.  St.  Mill,  Principl.,  Ch.  VIII  p.  297:  ,,lHiat  he  really
lends  is  so  much  capital,  the  money  is  the  mere  instrument  of  transfer.**
Vgl.  ferner  u.  A.  A.  Wagner,  Beiträge  zur  Lehre  von  den
Banken  p.  33.
0.  Michaelis,  Noten  und  Depositen  (Schriften,  Berlin
1879:  p.  342,  364).
Knies,  Geld  und  Credit  II  2  p.  236.