Appendix C The Meaning of Gold Yields of Bonds Payable Principal and Interest in Currency

Frederick R. Macaulay, Some Theoretical Problems Suggested by the Movements of Interest Rates, Bond Yields and Stock Prices in the United States since 1856 (NBER, 1938), https://www.nber.org/books-and-chapters/some-theoretical-problems-suggested-movements-interest-rates-bond-yields-and-stock-prices-united/appendix-c-meaning-gold-yields-bonds-payable-principal-and-interest-currency.