The psychology of social institutions / by Charles Hubbard Judd.

  • Judd, Charles Hubbard, 1873-1946.
Date:
1926
Catalogue details

Licence: In copyright

Credit: The psychology of social institutions / by Charles Hubbard Judd. Source: Wellcome Collection.

    65/364 (page 51)
    by saying that it is an attitude of confidence in the familiar paper itself. This attitude of confidence in turn is the out¬ growth of repeated experiences in which we have seen the paper accepted without hesitation by tradespeople. We come to have, as a result of what we have observed, com¬ plete faith that the paper money will pass. We handle it, therefore, with assurance and offer it at the store without ever stopping to go back to the remoter grounds of our faith. Assurance is in this case a feeling directly connected with a certain series of behaviors; it is the mental accompaniment of a habit of action. Passing the feeling of confidence, we may go on to con¬ sider another of the psychological processes which arise in the individual’s mind when he deals with paper money. The paper money is substituted for coins because it is con¬ venient ; it is easily handled; it can be made in uniform size, whatever the denomination. In all these respects society has been working out a practical problem of ease of manipu¬ lation. Society has deliberately invented a device which is economical of its own energy. In order to satisfy its desire for convenience, society has found it necessary to expend a great deal of energy in develop¬ ing and safeguarding the system itself. In other words, in order to save energy, society has expended time and energy in developing an artificial system. Some of the steps which are required in the elaboration of this artificial system become apparent when it is considered that society has to make a special form of paper on which to stamp its paper money. Society has to produce for the printing of its money elaborate plates which it will be difficult for unauthorized people to duplicate. Society has to employ a group of men whose business it is to protect the community against forgeries. Society has to develop agencies for the distribution and for the ultimate collection and re-issue of paper money.