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We know, not only because any private bank as it is easy To present, can try to appropriate functions central, but also Because the impression, as if, even without the governmental can be made Monopolies for issue some of classical functions of central banks,

Such how to serve "as the creditor of an ultimate authority"or"the holder of the final

Reserves "
Bagehot, Lombard Street (1873) (Kegan Paul, London, 1906), the river 142, which

Correctly tells about "natural state of a banking, when all Big banks hold own reserves "> all the same are necessary.

The requirement for "the creditor of an ultimate authority" is entirely called by that

Commercial banks incur the obligations which are subject to payment on To the requirement in monetary unit to let out which has the right only The central bank. Thus, commercial banks actually create money,

Repaid in other currency. In it as we will show more low, and the main consists

The reason of instability of existing credit system, and by that, -

Considerable fluctuations of level of the general economic activity. Without monopoly

The central bank (or the governments) on a currency issue and provided The law "the lawful means of payment" at banks would not be any bases To rely in business of maintenance of the credit status on a cash, Given by other body. "One-reserve system" as its Uolter has named

- , - the indispensable companion of monopoly for monetary issue - without it

It appears unnecessary and undesirable.

It is possible to mind, nevertheless, that the central banks are required for

Maintenance of necessary "elasticity" of monetary circulation. And though in the past

More than any another, we should not pass by containing in him

Rational grain. A way of coordination of elasticity of the offer of money with

Stability of their value represents an original problem and it will be

It is solved, only if the emitter of the given currency realises that its business depends from

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Large Weather Icons Large Weather Icons depict a number of weather conditions that are common for software, weather portals, and mobile gadgets. The icons are supplied in typical resolutions standard to Windows, Mac OS, and other systems. The largest versions are huge 512x512 pixel images with vector sources in Adobe Illustrator (.ai) format easily affordable and ready to be printed or used in presentations in highest resolution.

Space Icons Develop scientific or space-related product with readily available graphics. Space Icons pack contain over 60 images dedicated to astronomy, such as Sun, Astronaut, Spacesuit and all planets of the solar system.

Free Business Desktop Icons Free Business Desktop Icons is a collection of 10 stock icons to be used in commercial and personal products, including software applications, websites, blogs, and desktops. The images are free for personal, frequent and commercial use.

Database Icon Set Database Icon Set brings you lots of stylish and colorful icons for database application development. The images are provided in all the typical icon sizes and file formats include GIF, PNG, BMP and ICO.

Standard Chess Icons develop chess games and Web pages easier with Standard Chess Icons! All white and black figures are provided as 2D and 3D icons, the graphics for timer and chess board are also present.