IV. Commodities as More or Less Saleable

V. Concerning the Causes of the Different Degrees of Saleableness in Commodities

The degree to which a commodity is found by experience to command a sale, at a given market, at any time, at prices corresponding to the economic situation (economic prices), depends upon the following circumstances.

1.  Upon the number of persons who are still in want of the commodity in question, and upon the extent and intensity of that want, which is unsupplied, or is constantly recurring.

VI. On the Genesis of Media of Exchange1

VII. The Process of Differentiation between Commodities which have become Media of Exchange and the Rest

VIII. How the Precious Metals Became Money

IX. Influence of the Sovereign Power

BANKING AND THE BUSINESS CYCLE

A Study of the Great Depression in the United States

C. A. PHILLIPS, PH.D.

Dean, the College of Commerce,
State University of Iowa

T. F. McMANUS, PH.D.

College of New Rochelle, New York

R. W. NELSON, PH.D.

State University of Iowa

NEW YORK
THE MACMILLAN COMPANY
1937

COPYRIGHT, 1937,
BY THE MACMILLAN COMPANY

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ALL RIGHTS RESERVED—KO PART OF THIS BOOK MAY BE REPRODUCED IN ANT FORM WITHOUT PERMISSION IN WRITING FROM THE PUBLISHER, EXCEPT BY A REVIEWER WHO WISHES TO QUOTE BRIEF PASSAGES IN CONNECTION WITB A REVIEW WRITTEN FOR INCLUSION IN MAGAZINE OR NEWSPAPER

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Published March, 1937