If banks and other credit institutions are multiplied, and if credit operations are facilitated by public security, good administration of law, etc., less money is needed.
William Graham Sumner
William Graham Sumner was one of the founding fathers of American sociology. Although he trained as an Episcopalian clergyman, Sumner went on to teach at Yale University, where he wrote his most influential works. His interests included money and tariff policy, and critiques of socialism, social classes, and imperialism.