The Distribution of Products Or the Mechanism And the Metaphysics of Exchange

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We have ceased to hear of over-production, yet the products of 1879 were the most abundant ever known.
It is our mental condition only that has changed. Now that good money is even partially assured, we find our force is doubled ; industry is resumed, and labor is well employed, because confidence is restored.
In order that we may more readily comprehend how these little strips of paper that I have described these checks and bank-notes really do their work, let me use a word very familiar to th
...ose who, like myself, have been book-keepers, the word " cash. " If you ask me now, " Have you any money in your pocket?" and I followed my own rule, I should confine my answer to the coin in my vest- pocket ; but if you asked me if I had any " cash, " I should also include the bank-notes in my pocket-book.
In book-keeper's parlance, " cash " consists of checks.
BANKS AND BANKING. 209 bank-notes, United States notes, and coin. A book-keeper never says his money is short, when he cannot square his account ; it is always, " My cash is short.


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