On the second part of your query, there is a brilliant article by T. M. Humphrey, 'The Theory of Multiple Expansion of Deposits: What it is and Whence it Came', Federal Reserve Bank of Richmond Economic Review (1987) 3-11, tracing the history of the banking multiplier. Also see D. Laidler, _Fabricating the Keynesian Revolution_. I have an article forthcoming in the festschrift for Augusto Graziani which deals with this question too. I'll send it to you off the list. I doubt if there is much connection, except formal arrangement, between the banking and Keynesian multipliers. There is nothing in the historical chapters in Hugo Hegeland, _The Multiplier Theory_ , 1954, Kelley reprint 1966, for example. I would be delighted if someone can find evidence of a connection. Victoria Chick