Note A2-4-4 — Chapter III
John J. (John Joseph) Lalor translation
Fullarton's view (Regulation of Currencies, 1844) suffers from exaggeration. Knies, Geld and Credit, II, 285, very well shows that the "hoards" are by no means mere idle stores, and that, therefore, their void produced by the exportation of money must be soon filled up again. Adam Smith, even, may be considered a predecessor of Fullarton. (W. of N., ch. 2, p. 250, Bas.)