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The central bank as it, to support its reference, it will appear, It is compelled to follow to practice of other banks of issue, with which Competes. Opposition to new system of from outside existing banks... Necessity for all banks will develop absolutely new practice,
Undoubtedly, to call strong resistance to cancellation of the governmental monopoly.
It is improbable that the majority of the oldest bankers who have been brought up in conditions
Former bank routine, will be capable to cope with new problems. I
It is assured that many of present leaders of a banking will be incapable
To comprehend, as the new system in general can work, and will be to name, therefore,
It completely impracticable and impossible.
It especially concerns those countries, where a competition among banks during many
Generations restrained it the organisation usually resolved and even
Encouraged with the governments. The senior generation of bankers in these countries,
Possibly, it will be incapable even to imagine, as the new will operate
The system and consequently will almost unanimously reject it. But this predicted
The opposition of professionals of a banking should not confuse us. I am convinced,
That if generation of young bankers it will receive such possibility, quickly
Will develop techniques which will make the new form of a banking not
Only safe and profitable, but also much more favourable to the population, than
... And from outside bank speculators
Other funny source of opposition which will arise, as soon as
It will be found out that consequences of "free bank activity" will appear directly
Expected, all those numerous speculators, which will be opposite
This rather impressive list besides well-known authors: it.it.
Douglas, Social Credit (1924), Omnie Publications, Hawthorn, Calif, 1966;
Silvio Gesell, The Natural Economic Order (1916), Rev. Edn., Peter Owen,
London, 1958; Henry Meulen, Free Banking, 2nd Edition, Macmillan, London,
1934; and H. Rittershausen, Der Neubau des deutschen Kredit-Systems, Berlin,
1932; a specific mention deserves published in 1929 - 1944
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