On the Influence of a Note Circulation in the Conduct of Banking Business (Classic Reprint)

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Fb&c Limited, 7 mar 2018 - 100 pagine
Excerpt from On the Influence of a Note Circulation in the Conduct of Banking Business

Apart from the question of the right of the State to be the sole issuer of bank notes, into which we will enter further on, it will be clear that a considerable part of the usefulness of the cir culation rests on the fact, whether such an issue when made by several banks may not be of greater advantage on the whole to the trade of a country than if it is in the hands of the State alone whether it may not be the case that a note circulation made through the intervention of a great many banks in different parts of the country, may not promote the prosperity of that country to a greater degree than a similar amount of note circulation would do if in the hands of the Government itself, or of one bank alone privileged to issue, and connected with the State by close ties of privilege and mutual assistance.

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