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《货币的购买力》第三章第六节

时间:2017-11-15 18:49来源:未知 作者:一品梅 点击:
The contents of this chapter may be formulated in a few simple propositions: (1) Banks supply two kinds of currency, viz. bank noteswhich are money; and bank deposits (or rights to draw)which are not money. (2) A bank check is merely a certi
The contents of this chapter may be formulated in a few simple propositions:
(1) Banks supply two kinds of currency, viz. bank notes—which are money; and bank deposits (or rights to draw)—which are not money.
(2) A bank check is merely a certificate of a right to draw.
(3) Behind the claims of depositors and note holders stand, not simply the cash reserve, but all the assets of the bank.
(4) Deposit banking is a device by which wealth, incapable of direct circulation, may be made the basis of the circulation of rights to draw.
(5) The basis of such circulating rights to draw or deposits must consist in part of actual money, and it should consist in part also of quick assets readily exchangeable for money.
(6) Six sorts of exchange exist among the three classes of goods, money, deposits, and other goods. Of these six sorts of exchange, the most important for our present purposes are the exchanges of money and deposits against goods.
(7) The equation of money circulation extended so as to include bank deposits reads thus:
MV + M'V' = SpQ or PT.
(8) There tends to be a normal ratio of bank deposits (M') to the quantity of money (M); because business convenience dictates that the available currency shall be apportioned between deposits and money in a certain more or less definite, even though elastic, ratio.
(9) The inclusion of deposit currency does not normally disturb the quantitative relation between money and prices.
本章的内容可以用几个简单的命题来表达:
(1)银行提供两种货币,银行纸币 - 这是钱; 和银行存款(或取款权) - 这不是金钱。
(2)银行支票只是一张取款权的凭证。
(3)背后存款和票据持有人的权利的立场,不是简单的现金储备,但全部资产的银行。
(4)存款银行是一种不能直接流通的财富作为权利流转的基础。
(5)这种流通权的提取或存款的依据,部分属于实际货币,也应该包括部分货币快速交换的快速资产。
(6)货物,货币,存款和其他货物之间有六种交换。在这六种交换中,对我们目前来说最重要的是交换货物和存款。
(7)货币流通的方程扩展为包括银行存款:
MV + M'V' = SpQ or PT.
(8)银行存款(M ')与货币数量(M )之比正常; 因为商业上的便利性决定了可用的货币应该在某种程度上或多或少地有一定比例的存款和货币之间进行分配。
(9)纳入存款货币通常不会扰乱货币与价格之间的数量关系。
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