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[31] Herbert Joseph Davenport, The Economics of Enterprise, pp. 259, 60. The Macmillan Company, New York. 1913.

[32] Charles F. Dunbar, Chapters on the Theory and History of Banking, pp. 20–38, G. P. Putnam's Sons, New York and London. 1902.

[33] Herbert Joseph Davenport, The Economics of Enterprise, pp. 260–6. The Macmillan Company. New York. 1913.

[34] It should not be overlooked, furthermore, that the velocity of the circulation of deposits is approximately two and one-half times that of money.—Editor.

[35] Hartley Withers, The Meaning of Money, pp. 57–73. E. P. Dutton and Company. New York. 1914.

[36] Irving Fisher, The Purchasing Power of Money, pp. 45–47. The Macmillan Company. New York. 1911.

[37] This act, passed in 1797 in order to prevent a drain of gold to the continent during the Napoleonic War, forbade the Bank of England to redeem its notes. It remained in force until 1821, when specie payment was resumed.—Editor.

[38] Report from the Select Committee on the High Price of Gold Bullion. Ordered by the House of Commons, to be printed, 8 June, 1810.