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Irving Fisher - Thus, our national circulating medium...
Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess. (Irving Fisher)

Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess.

Irving Fisher

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lend loan medium mercy money national now supply thus banks

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