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《货币的购买力》第五章第五节

时间:2017-12-06 18:16来源:未知 作者:一品梅 点击:
5 3 (a). The more densely populated a locality, the more rapid will be the velocity of circulation.58 There is definite evidence that this is true of bank deposits. The following figures59 give the velocities of circulation of deposits in t
§ 5
3 (a). The more densely populated a locality, the more rapid will be the velocity of circulation.58
There is definite evidence that this is true of bank deposits. The following figures59 give the velocities of circulation of deposits in ten cities, arranged in order of size:
 3(a)一个地方人口越稠密,流通速度就越快.58有确凿证据表明银行存款确实如此。下面的数字给出了10个城市的存款流通速度:

Paris116 Lisbon29
Berlin161 Indianapolis30
Brussels 123 New Haven16
Madrid14 Athens4
Rome43 Santa Barbara 1
Madrid is the only city seriously out of its order in respect to velocity of circulation. 
巴黎116里斯本29
柏林161印第安纳波利斯30
布鲁塞尔123纽黑文16
马德里14雅典4
罗马43圣塔芭芭拉1
马德里是唯一一个在流通速度方面严重失序的城市。 

3 (b). Again, the more extensive and the speedier the transportation in general, the more rapid the circulation of money.60 Anything which makes it easier to pass money from one person to another will tend to increase the velocity of circulation. Railways have this effect. The telegraph has increased the velocity of circulation of deposits, since these can now be transferred thousands of miles in a few minutes. Mail and express, by facilitating the transmission of bank deposits and money, have likewise tended to increase their velocity of circulation.
3(b)同样,一般来说,交通运输越广泛,速度越快,货币流通速度就越快。任何使钱从一个人流向另一个人的办法都容易增加流通速度。铁路有这个效果。电报已经增加了存款的流通速度,因为现在可以在几分钟内转移数千英里。通过促进银行存款和货币的传输,邮件和快递同样也趋向于增加其流通速度。

We conclude, then, that density of population and rapidity of transportation have tended to increase prices by increasing velocities. Historically this concentration of population in cities has been an important factor in raising prices in the United States.
因此,我们得出结论:人口密度和交通运输速度通过增加速度倾向于提高价格。从历史上看,城市人口集中是美国提价的一个重要因素。

Ordinarily, the velocity of circulation of money and the velocity of circulation of deposits will be similarly influenced by similar causes. In time of panics, however, if the confidence of depositors is shaken, the tendency is for deposits to be withdrawn while money is hoarded. Hence, for a time, the two velocities may change in opposite directions, although there are no good statistics for verifying this supposition.
通常来说,货币流通速度和存款流通速度同样会受到同样的原因的影响。但是,在恐慌的时候,如果存款人的信心动摇,倾向于存款被收回而金钱被​​囤积。因此,一段时间内,两个速度可能会在相反的方向变化,尽管没有一个好的统计数据来验证这个假设。


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