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+ Note 3o
Abstract
Ch.XII
6 (b)?
Deficiency in
quantity can
not be rendered
by increased
quickness of
circulation
Note (b) to p.160
Note to p 39?
(b) To a theoretical glance it may appear
might be apt to appear, that the lesser quantity of money might serve to convey
the same quantity of incomeannual receipts as the greater,
if, in proportion to the deficiency, the circulation
in the quantity of matter, the velocity of thecirculation
were to be increased. But upon examination,
I do not imagine it would be found
by what means the velocity would be capable of
receiving any adequate increase of being increased. The natural effect of these pressures
by to which such increase would be a relief,
is - not to promote accelerate the increase the quickness of the
circulation, but to retard it.
End of Note (b)
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