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International (Foundation Press, Brooklyn, 1950), p. 53>. The absolutism has suppressed attempts of merchants to create stable money
Some of the first banks in Amsterdam and other places have been obliged by the
Occurrence to attempts of merchants to provide stable money. However
The becoming stronger absolutism soon has suppressed all efforts directed on creation
Not state monetary units. Instead it patronised development
The banks which were letting out banknotes, expressed in the official governmental
Money. On this example it is possible to show, how similar succession of events has opened
Doors to new political abusings and to show more visually, than on
Material of history of a metallic currency.
Speak, the Chineses learnt by the bitter experience with paper money,
Tried to forbid for ever them (certainly, unsuccessfully), still before them
Europeans have invented.
Vissering, Leiden, 1877) and "Taper Money - A Cycle in Cathay" (Cordon Tullock,
Economic History Review, IX/3, 1956) which, however do not mention often
Repeated history about "a definitive interdiction".> it is final, European
The governments, having learnt about new possibility, have begun ruthlessly it
To maintain, but not to provide people qualitative
Money and to receive for treasury as it is possible the big profit. Since
In 1it94 the British government has sold to Bank of England the limited monopoly
On release of banknotes, the main care of all governments consisted in, that not
To give the authorities over money, before the stamping based on a prerogative of a coin,
To escape from their hands, having passed to really independent banks. On
Some time domination of the gold standard and belief that its maintenance
There is an important element of prestige, and the compelled refusal of it - national
Shame, have essentially limited this power. It has given to the world the unique
The long period (about 200 years) relative stability, during
Which the modern industry suffering, however, from could develop
Periodic crises. But as soon as about 50 years ago world has realised that
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