Money: Plenty of It

The best way to measure the strength of the economy, say many economists, is to look at how much money is available for spending and lending. By this theory, the outlook for the rest of 1964 is bright indeed. The supply of money in the U.S.—measured by totaling bank deposits and currency in circulation—is large and steadily growing. It increased 8% in 1963, a pace of expansion approached only once in the past decade. Since people invariably spend more when there is more to spend, the economy will get a boost from the plentiful money supply. Yet money is also...

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