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THE Gnowm or CURRENCY AND DEPOSITS
How THE QUANTITY or CIRCULATING MEDIUM C11moss
WHAT BECOMES or THE INCREASED CIRCULATING MEDIUM?
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amount of currency assets average bank deposits bank reserves billion borrow-and-buy borrowing from banks Bureau of Economic cash balances cash holdings certiﬁcates changes checks chieﬂy commercial banks consumer cost of living currency and deposits currency in circulation December decrease deposit accounts deposit balances deposit expansion deposits and currency Director Economic Research eﬁect excess reserves expansionist expenditures extent factors Federal Reserve Banks Federal Reserve notes Federal Reserve System ﬁgures ﬁnancial corporations Financial Research Program ﬁrst World funds government deposits government obligations government securities greenbacks held income increase in circulating individuals inﬂation inﬂuence Iune less liquid resources loans member bank methods of ﬁnancing monetary expansion money supply National Bureau offset payments Pearl Harbor percent period present problem purchase rate of growth reduced reﬂect relative Reserve authorities rise savings bonds savings deposits short-term Simon Kuznets tion trade Treasury borrowing Treasury securities volume of circulating WHOLESALE PRICES