INDEX

determined, 253-255; relationof interest rate to, 116-117.

Borrowing and lending (sellingand buying), equalizes differ-ent rates of impatience, 104-106; modifies income streams,128.

Bortkiewicz, L. von, cited, 483.

Brown, H. G., argument of, an-swered, 464-467; cited, 182,193; cost fixes value, hence in-terest rate, 463-464; criticismby, on land as capital, 460; fix-ing rate of return, fixes interestrate, 182.

Brown, Mary W., cited, 378.

Burgess, W. Randolph, relationof interest rates and bank re-serves, 445.

Business loans, classified, 360-365.

Business loans and personalloans, contrasted, 365-369.

Buying power of money. SeePrice level.

Buying and selling. See Borrow-ing and lending.

C

California, incomes and interestrates in, 387, 388, 389.

Cannan, Edwin, cited, 333.

Capital, discounted future in-come, 12; and human beings,12; includes land and pro-duced goods, 458-459; sepa-rated from income by book-keeping principles, 25; loan-able, depends on expectedincome, not on amount of cap-ital value, 93-94; nature of, 12;produced by income, not thereverse, 61; relations of, to in-come, 3-35; as a stock ofwealth, 457.

Capital concept, epitomized, 12-15.

Capital depletions or gains, de-termined by impatience rates,335-338.

Capital gains not income, 25-26,455.

Capital supply and demand, notthe cause of interest, 32; rela-tion of, to interest, 454.

Capital value, affected by inven-tions, 343-345; capitalized in-come, 455; contrasted withcapital wealth, 91-92; derivedfrom future income, 14-15, 331-332; determined by income,12, 457; interest rates not de-termined by, 93-94; psychic,332.

Capital wealth, distinguishedfrom capital value, 91-92; ma-terial source of all income, 332;interest rates not determinedby, 93-94.

Capitalist, abstinence (waiting)of, 180.

Care for dependents, effect onimpatience, 85-89.

Carver, T. N., cited, 111, 115,217; savings without interestpossible, 190.

Cassel, Gustav, cited, 203, 450.

Catastrophes, effect of, on inter-est rates, 391-393.

China, interest rates in, 378, 380-381.

Choice, among optional uses ofcapital, 125-149, 150-177, 178-205.

Clark, J. B., on land and otherdurable agents, 459

Clothing, price of, affected by in-terest rate, 326-328.

Coin bonds, 401-402.

Colorado, interest rates in, 388.

Commercial paper, interest rateson, 445-446.

Committee on Recent EconomicChanges, quoted, 353.

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