TY - JOUR
AU - White, Horace
AB - REVIEWS. The Theory of Credit. By Henry Dunning Macleod , M.A. In two volumes. Vol. I. London, Longmans, Green & Co., 1889. Mr. Macleod’s latest work, of which the first volume is before us, is a restatement, with amplification, of the first volume of his Elements of Economics, published nine years ago, which was itself a restatement, with amplification, of an earlier work. The Elements of Banking. His aim in all three of the works named is to show that credit is capital. This conception has been in the growing or progressive stage in his mind. In the Elements of Banking (page 143) we find it stated in these words: “ Hence it is seen how mercantile credit is mercantile capital,” the identity of credit and capital being here limited to mer- cantile affairs. In the Elements of Economics (I, 178, 179) it is shown that an order for, or a promise of, or a right to, goods is of the same value as the money with which the goods might be bought, and hence This order or promise or right is what is usually called credit, and it is clearly seen that, although it is of a lower 
TI - The Theory of Credit, by Henry Dunning Macleod
JF - Political Science Quarterly
DO - 10.2307/2139262
DA - 1890-09-15
UR - https://www.deepdyve.com/lp/oxford-university-press/the-theory-of-credit-by-henry-dunning-macleod-emvrql9RBf
SP - 520
EP - 524
VL - 5
IS - 3
DP - DeepDyve
ER -