Currency in circulation	Checkable bank deposits	Money supply
First stage: Silas keeps his cash under his bed.	$1,000	$0	$1,000
Second stage: Silas deposits cash in First Street Bank, which lends out $900 to Maya, who then pays it to Anne Acme.	900	1,000	1,900
Third stage: Anne Acme deposits $900 in Second Street Bank, which lends out $810 to another borrower.	810	1,900	2,710