*ECONOMIC development, *MONEY supply, *POPULATION research
Abstract
Market transaction data are used to estimate the quantity of specie in circulation. This estimate is used to provide the first comprehensive measure of a colony''s money supply and, along with data on population and prices, to retest the quantity theory of money and measure output growth using the equation of exchange. Output growth is found to depend on periodization and the extent that rising commercialization increased the velocity of circulation. Specie was becoming relatively less scarce as the Revolution approached, and movements in specie and paper currency both offset and reinforced each other depending on the period of analysis. (JEL N11, N21, E42, E51) [Copyright &y& Elsevier]
In areas of varying geology, it is difficult to infer water quality from specific conductance or electrical conductivity (EC) data without an understanding of the expected range of EC values based on local bedrock composition. This paper describes a user-friendly graphical screening method that addresses this issue by plotting the EC against concurrent alkalinity data, which correlates well with the presence of carbonate bedrock under natural conditions, and thus serves as an index of bedrock type. The upper limit of EC vs. alkalinity expected in a stream is determined using regional groundwater quality data, based on the assumption that stream chemistry reflects groundwater under baseflow conditions. Stream samples with EC/alkalinity values that consistently plot above this limit are considered impacted by anthropogenic sources. The effect of dilution and runoff on the EC vs. alkalinity plot of stream samples is considered using a simple baseflow/storm runoff-mixing model. The graphical method''s utility as a screening tool is demonstrated by application to stream chemistry data from watersheds of southeastern Pennsylvania and northwestern New Jersey conductivity in several distinct geologic settings; however the method is general and widely applicable to watersheds in humid temperate regions. Its use is intended for watershed stewards of both professional and nonprofessional qualification. [Copyright &y& Elsevier]