Richard Cantillon wrote about the non-neutrality of money in the first full treatise ever written on economics. Here is a new translation of the work, written in the early 1730s and published posthumously in 1755:
http://library.mises.org/books/Richard%20Cantillon/An%20Essay%20on%20Economic%20Theory.pdf
In fact, the non-neutrality of money, i.e., the production effects that occur when the money stock is increased, are called, “Cantillon Effects.”
