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 reduced because an Index Number had fallen, knew, or thought that they knew, that there had been no fall in the cost of living which the Index Number was supposed to record.

Mr. Kitson, in his expansive embodiment, would be saying that "sales are limited by the amount of money or credit offered"; that "production is necessarily limited by the quantity of money or credit available for commercial purposes"; and that "a study of the currency and bank methods of all industrial nations for the past century will convince every unprejudiced person that the scarcity of wealth and the limited amount of production has been due primarily to the legally restricted supply of money." (Money Problems, page 32.) One can hear the rattling cheers of the Opposition back benches as the leader of the Kitsonian party makes his points, and convicts the cowering Administration of throttling, at the bidding of misleading statistics in which nobody believes and armchair economists with cosmopolitan leanings, the industry of England just struggling to expand.

Professor Irving Fisher will always be associated with the rise of stabilization to the position of an ideal, for which people were ready to work. His system is expounded in his well-known work on the Stabilization of