charles moyer wrote:
> Pound claims it is. See "IMPACT: Essays on Ignorance and the Decline of
> American Civilization" (1960) p.108.
But the accuracy of that claim is what is in question. The claim is
apparently
made by quite a few writers but no one has cited the actual text by
Paterson
that contains the sentence. Are we dealing with a sort of urban legend? (If
so, it's a good one, and whether Paterson said it or not it does exemplify
one view towards the money "created" by banks. It is *not* Pound's
honesty which is being questioned. Michael Perelman wants to quote it
in a book he's writing, and he needs a dependable source for it.
Carrol Cox