Simple desire for money does not constitute demand for it any more than desire for any other economic good constitutes demand for it. Demand is effective desire. It is desire coupled with the ability to pay the current price for the thing desired. Demand for money, then, is desire for money together with the ability to give some other commodity which will be accepted in exchange for money. The demand for money depends upon the amount of business which is transacted for which money payment must be made and upon the extent to which money is required as a reserve for credit operations. It is influenced also by the extent to which money is hoarded, and by the demand for the metal of the money for use in the arts because of the effect of these things in reducing the supply of money in circulation. Substitutes for money, such as checks, have the effect of lessening the demand for money.