_Professor Francis Bowen_, Harvard (“American Political Economy,” page 280): “The whole process of exchange may be compared to the process of weighing a well-poised balance, the money and the merchandise being placed on the opposite arms of the lever. Increase the weight on the money side, and the merchandise is sure to rise.” Page 281: “The equalization of money is but another name for the equalization of prices.” Page 244: “The probability of the notes being redeemed at some future day, more or less remote, is not the cause even of the depreciation in the value of paper money, ... but solely on the relative amount of the currency compared with the needs of business. How great are these needs? Commerce needs money or currency enough to enable it to perform its peculiar function; that is, to make the prices of commodities in the home market equal or as nearly equal as possible to the prices of the same commodities in foreign markets.” Page 245: “If there is only $100 to buy flour with, and only ten barrels of flour offered for sale, the competition of buyers and sellers must fix the price at $10 a barrel. If there was twice as much flour, the number of dollars being the same, the price must be reduced to $5. On the other hand, double the quantity of money; there would be $200 available for this purpose, and, as at first, only ten barrels to be sold; the price would rise to $20 a barrel.” Page 301: “The general principle is that the value of money falls in precisely the same ratio in which its quantity is increased. If the whole quantity of money in circulation was doubled, prices would be doubled; if it was only increased one-fourth, prices would rise one-fourth.” _President Steel_, Lawrence University: “The conventional unit of lineal measure must not be a line which averages a foot, though it may be fourteen inches to-day and nine inches to-morrow; for the same reason it is desirable that the unit of value should have the same purchasing power next week as it has now.” _Prof. Francis Wayland_ (“Elements of Political Economy,” page 297): “If there is more money in a country than is needed for its exchanges, the price of goods is raised and it is sent abroad for new purchases. If there is a scarcity of money in a country, the price of goods declines, and money comes in from other lands to be exchanged for them.” Page 298: “If money is abundant because business is stagnant and exchanges are few, it is a sign of adversity rather than of prosperity.” _Edwards Pierpont_ (_North American Review_): “When currency is small it is always easy for a few lords of corporations and rich money-lenders to combine and lock it up, and thus throw down the price of stocks, wheat, cotton and other commodities, and work a corner on the currency. Thus the market is made tight and extortion easy.”