>From [log in to unmask] At the Notre Dame meetings there was discussion of precursors of Milton Friedman's policy proposals with respect to the quantity of money. In 1851, a certain Opdyke, in his POLITICAL ECONOMY, wrote `The natural ratio of money, when expressed in dollars, to population in the United States, is as 15 to 1.' One, Walter Arnold, a member of the Currency Reform League in Canada, cited Opdyke at length in an 1861 article, and elaborated the notion, which was given a much fuller expression in POLITICAL ECONOMY than this one line would indicate.