A general glut—that is, a general fall in the prices of the mass of commodities below their producing cost—is tantamount to a rise in the general exchangeable value of money; and is a proof, not of an excessive supply of goods, but of a deficient supply of money, against which the goods have to be exchanged.#Quoted in Leland Yeager, “The Significance of Monetary Disequilibrium” (1986)