The Paterson quote on interest

Carrol Cox cbcox at ilstu.edu
Mon May 22 18:52:14 PDT 2000


"John K. Taber" wrote:


> I'm fascinated that the quote appears to be spurious.

So am I. It's been quite a few years since I read any Pound criticism, but from what I can remember no one had ever challenged the accuracy of the quote. It really is central to Pound's conception of money as a symbol of the power of the issuer. Someplace he uses this as a "refutation" of all materialisms -- I think in the context of asserting a relationship between the value of the coin and the King's seal. It has been 40 years since I read Thomas Hart Benton's 2 volume memoirs, and I can't remember whether he makes any similar claim about the United States Bank or not.

Carrol



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