This has become a forgotten epoch in financial history, yet it led to the first clear mathematical formulation of the quantity theory of money, expressed by Simon Newcomb already in the 19th century. (michael-hudson.com)
That's not to say that Milton Friedman's quantity theory of money has been discredited. (mauldineconomics.com)
The Quantity Theory of Money (QTM) has been around since the time of Copernicus (the 1500s). (tsi-blog.com)