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...Sae no february studies in applied economics adam smith s theory of money and banking nicholas a curott johns hopkins institute for global health study business enterprise by copyright about the series is under general direction prof steve h hanke co director jhu edu author nacurott bsu assistant professor at ball state university muncie indiana he earned his ph d from george mason this paper was chapter dissertation abstract addresses long running debate literature over argues that recent reinterpretations monetary have erroneously diverted historians thought correct but briefly articulated initial interpretations thornton viner did not present either real bills or price specie flow banknote regulation as now generally presumed rather reflux based upon premise demand fixed particular nominal quantity denies an excess supply can ordinarily make it into domestic income stream influence prices employment keywords mechanism doctrine free law approach to balance payments jel classification...