W. A. Scott, Money and Banking, pp. 1-116;
W. S. Jevons, Money and the Mechanism of Exchange, pp. 3-41;
Marshall, Wright, and Field, Materials for the Study of Elementary Economics, pp. 443-546;
C. J. Bullock, Introduction to the Study of Economics, pp. 224-246;
D. R. Dewey, Financial History of the United States, especially pp. 383-413;
Everett Kimball, National Government of the United States, pp. 460-479;
Horace White, Money and Banking (5th edition), passim;
F. A. Fetter, Modern Economic Problems, pp. 31-163.
Group Problems
1. How money and credit are related to prices. The meaning of “prices”. The quantity theory of money. Relation of money to credit. Reserves for paper money. Bank reserves. Discounting and rediscounting. How inflation of money and credit affects prices. Index numbers. American experience during the years 1914-1921. References: F. W. Taussig, Principles of Economics, Vol. I, pp. 427-445; C. J. Bullock, Introduction to the Study of Economics, pp. 242-278; Irving Fisher, The Purchasing Power of Money, pp. 8-32; Ibid., Stabilizing the Dollar, pp. 1-12; J. A. Hobson, Gold, Prices, and Wages, passim; David Kinley, Money, pp. 199-223.