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vol. III forthcoming 31a, vol. 3> actually are,
The complementary: the type of monetary system which I offer, is possible only
In the conditions of the limited board, and restriction of the power of the government can
To demand that it it has been deprived also monopoly for a currency issue. In effect,
The second should follow with inevitability from the first.
Professor Fridman since then
August 1977, p. 26> has more full explained the doubts apropos
To effectiveness of my offer also has declared that "at us enough empirical and
The historical data showing that these hopes on
The business cannot justify that private currencies from the reliable purchasing
Ability will not supersede the governmental currencies ".
I cannot find certificates that to any medium of exchange similar on
Currency about which there is here a speech, that is currency about which public knew,
That its emitter can continue the business only provided that it
Supports its value at constant level, on currency which it was possible
To use in all usual bank operations and which admitted
The law as the tool for the conclusion of contracts, conducting
Book keeping and fulfilment of calculations, the preference has not been given before
Depreciating official currency. Such certificates are not present simply therefore,
That such situation, apparently, never existed. Quite probably that
In many countries release of such currency formally is not forbidden, but the others
Conditions, as a rule, are absent. And everyone knows that if such private
Experiment will promise success, the governments will interfere at once, that to it
If to try to find historical evidences, possible behaviour of people in
Situations when they can freely choose used currency, replacement
Pound sterling from international trade arena where it served the general monetary
Unit, the beginnings right after of its continuous depreciation, it seems serious
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