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Necessary, even the useful. It can quite appear that this monopolyIt is harmful and that its cancellation becomes the huge blessing opening possibilities for
Much more successful course of affairs. Therefore, the discussion earlier will begin, the
Better. And though plan realisation can seem completely impracticable, time
The public consciousness is not prepared and not in a status critically to estimate
Dogma about necessity of monetary monopoly of the governments, nevertheless, it not
Should serve more as an obstacle in a research way human reason Fascinating theoretical problems which arise in connection with this idea. The competition of currencies was not discussed by economists
It is difficult to believe that until recently a problem of competing currencies never
Seriously it was not investigated.
Advantages of independently let out competing currencies, I should here To concede an intellectual priority to professor Benjamin Klein, which in To article written to 1970, published in 1975 Benjamin Klein, Credit, November 1975, "The Competitive Supply of Money ", Journal of Money and Banking VI and not known to me until recently, has accurately explained
The main advantage of a competition between currencies.> in the available literature is not present
The answer to a question, why the governmental monopoly for monetary issue
Everywhere it is considered as inevitable and whether this belief of all results
Only from it is not known whence the undertaken assumption saying that on any given
Territories in circulation there should be an one and only kind of money? Such system
Could represent certain convenience until it is unique
As possible kinds of money only gold and silver seriously were considered. We cannot
To find the answer and to a question that happens if to cancel this monopoly and
To assign the decision of a problem of supply of the population money for an open competition
The private enterprises which are letting out different monetary units. The majority,
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