Quotes 21 till 22 of 22.
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Where execution is dominant, as it is in the individual events of a war whether great or small, then intellectual factors are reduced to a minimum.
On War (1832) -
The volume of credit depends upon three factors: the desire to borrow, the ability to lend and the desire to lend.
Storage and Stability Part III, Ch. XIII, The Reservoir Plan and Credit
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