1. See F. P. R. Brechling, ‘A Note on Bond-Holding and the Liquidity Preference Theory of Interest’, Rev. of Econ. Stud.
24 (1957) pp. 195–6.
2. Cf. R. G. Hawtrey, The Art of Central Banking (London: Longmans, Green, 1932) p. 327.
3. Cf. J. G. Gurley and E. S. Shaw, ‘Financial Aspects of Economic Development’, Amer. Econ. Rev. (1955) 45, p. 525.