This chapter considers how the monetary arrangements affect the capital structure, focusing on the relationship between monetary arrangements and the capital structure. It argues that monetary arrangements, based on multiple currencies, heterogeneous money, with an abstract unit of account, give a more consistent capital structure. The chapter considers heterogeneous as well as homogeneous money. It examines the evolution of monetary arrangements within Lachmann's asset structure, using Lundberg's sequence analysis, which takes credit into account. The chapter also examines Lachmann's asset structure and Lundberg's sequence analysis is combined to address the relationship between monetary arrangements and capital structure. It describes expectations, and process analysis and seeks to process analysis and capital theory. The chapter addresses historical sequence of monetary regimes. In Lachmann's view, investment is no longer a change in capital stock, but a change in the composition of the capital stock, that is, a change in the capital structure.