Abstract
Any change in the sum of the cash on hand and on demand deposits during a year causes a proportional change in the money deflator, which provides the invariability of the real amount of money in circulation and does not exert influence on the velocity of money circulation. The velocity of money circulation is equal to the ratio of the real composite demand for boons to the real amount of money in circulation. The interest rate is proportional to the square of velocity of circulation of money, does not exert influence on the amount of money in annual circulation and on the standard of prices, and cannot regulate economy equilibrium.
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