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Vast scales from those sums that has been deposited in their banks, only when
They were able pay on the banknotes in the event that demand
Investors on cash has suddenly increased. Also it has turned out so that, when
Advantages of depositary banks were generally recognised, the greatest jerk
Has been made by those countries where use of bank money was
It is extended in the widest limits. Release of banknotes was that
Sphere where there were first bank problems, and here the states in
The strongest degree aspired to establish monopolies through delivery system
Licences. The set of errors, certainly, has been made in bank sphere in
Times of its youth in the conditions of unlimited freedom health of the bank
Business it is defined not by only one abilities of bankers,
The present from a fake, but also and
Presence at people of knowledge and experience to distinguish good business from bad that can justify the state intervention, on
To extreme measure, for swindle prevention. It is very important to notice that in those
Times when bank business did the first steps, the industry and
Trade were only liberated from diapers of medieval protectionism, and
Remains as early as kind hundred years until when it was possible to new system
To develop the commercial code for large-scale manufacture.
Actual absence of laws of business up to XIX century affected more
In total on the spheres connected with monetary system: as all population of the country
Dealt with money, possible harm in this sphere, possibly, could have
Especially far-reaching consequences. Nevertheless, we should recognise that where
More important reason which has led to consecutive intervention of the state in
Bank sphere at the time of a decline of the state intervention in others
Areas, there was that circumstance that the power over release of paper money, be
That direct or indirect, was exclusively effective weapon in an arsenal
Systems of public finances.
Since approximately since 30th years of the last century a depositary banking
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