The Review of Economics and Statistics Vol. 14 No. 1 1932
Hoarding and the Expansion of Currency in Circulation
Abstract
allowed for, the decline was steady after the middle of I929. Early in August I930, the items without such adjustment reached a seasonal low point; but the gain thereafter fell short of the full seasonal movement until the middle of November. Then appeared the unusual demands which subsequently dominated the situation, and brought the volume of currency above the figures reached at the previous peak, late in I920. Chief among them has been the demand for the purpose of hoarding; but the published statistics are subject to many influences in addition. These published figures are simply a count of our currency which is held outside the United States Treasury and outside the federal reserve banks. They thus include the pocket money of individuals, till money held by merchants and others,
- DOI
- 10.2307/1927046
- Volume
- 14
- Issue
- 1
- Pages
- 30
- Sources
- openalex crossref