Some Anecdotal Evidence Relating to the Legal Restrictions Theory of the Demand for Money
通过法国政府在1915-27年间发行的一种本应作为交易媒介流通的证券,以及埃莉诺·兰辛·杜勒斯尝试使用该证券购物的经历,为货币需求的法律限制理论提供了轶事证据。
According to the legal restrictions theory of the demand for money, characteristics such as denomination and negotiability of interest-bearing debt are what prevents it from being employed as a transactions medium. During the years 1915-27, the government of France used as a financing instrument securities that, by the legal restrictions theory, should have circulated in exchange. An experience by Eleanor Lansing Dulles, attempting to use one of these securities in a purchase, as well as other evidence, suggests that they did not.