Abstract
In the last century, when the European economic crisis happened one after another, Marx realized that he needed to intensify his research on the very important economic phenomenon at the beginning of the revolution. From August 1857 to May 1858, he wrote eight books of notes, which were called "Outline". The first part of the Outline is the Chapter on Money. At the beginning of this part, Marx attacked the incorrect ideas of many economists about money and crisis, and pointed out that people must discover the essence of crisis through the phenomena of currency or financial crisis. One of the economists was Bailey. Based on the analysis of the background of the economic crisis at that time, this paper will sum up Bailey's monetary thought, explore Marx's criticism and inheritance of Bailey's thought and the impact on the economic crisis at that time, and elaborate the important influence of Marx's "Outline".
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