[105] Vide Taussig, Principles, I, 432.
[106] "Der Bankzins als Regulator der Waarenpreise," Conrad's Jahrbücher, 1897.
[107] Loc. cit., ch. 8.
[108] Cf. ch. on "Economic Value."
[109] Nicholson, J. S., Money and Monetary Problems, pp. 64-66; 71-73.
[110] Works, McCulloch ed. 1852, p. 213.
[111] Cf. the criticism of Nicholson by W. A. Scott, Money and Banking, 1903 ed., ch. 4.
[112] Cf. Mill, Principles, Bk. III, ch. xiii, par. 1. "Nothing more is needful to make a person accept anything as money, and even at any arbitrary value, than the persuasion that it will be taken from him on the same terms by others." It is not quite fair to identify Mill's doctrine with the circle stated above, however, since Mill couples it with a reference to convention, resting on the influence of government—a mention, without analysis, of some of the factors to be discussed shortly.
[113] Cf. Knies, Das Geld, I, p. 140.
[114] Cf. Social Value, ch. 2. Infra, our chapter on "The Functions of Money."