American Citizenship And Economic Welfare the Weil Lectures 1919 Delivered At

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19 " Report of the Secretary of the Treasury, " op. Cit. , p. 5.
20 John Hay, " Banty Jim " in Poetical Works ( Bos- ton, 1916), p. 13.
21 Monthly Labor Review, August-October, 1919.
22 Bradstreet's, September 27, 1919.
23 " Circulation Statement " ( Division of Loans and Currency, Treasury Department), May 1, 1917 and July 1, 1919.
24 "Abstracts of Reports of Condition of National Banks, " No. 106 (May 1, 1917); No. 119 (June 30, 1919).
25 Federal Reserve Bulletin, May, 1917, p. 411-2; August,
... 1919, pp. 796-7.
26 See the present writer's War Borrowing: A Study of Treasury Certificates of Indebtedness of the United AND ECONOMIC WELFARE 117 States (New York, 1919) ; also a paper on " Fiat Credit and High Prices, " in New York Times, October 29, 1919.
27 War Borrowing, chap, v ('The Price Level').
28 Essays on Political Economy (ed. Wells; New York, 1877), pp. 72-74.
29 The argument is forcibly presented in John M. Robertson, The Fallacy of Savings (London, 1892).
30 John Hay, "The Mystery of Gilgal " in Poetical Works (Boston, 1916), p.


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