The demand for money is a demand for real cash balances because people hold money for the purpose of buying goods and services. The higher the price level, the more money balances a person has to hold in order to purchase a given quantity of goods.
A total of 53 feet of the pedestal is actually below ground to give it a solid footing, and at the very bottom is 91 square feet in area. By contrast, on ground level the base is only 65 square feet in area. The concrete walls above ground range from 8 to 19 feet thick.
Pulitzer and the New York World were finally able to announce, in August 1885, that the final $100,000 for the statueâs pedestal had been raised. Construction work on the stone structure continued, and the next year the Statue of Liberty, which had arrived from France packed in crates, was erected on top.