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Image sizes: 256x256, 128x128, 64x64, 48x48, 40x40, 32x32, 24x24, 20x20, 16x16 File formats: ICO, BMP, GIF, PNG Tags: ball icons, xanag icons, how to create icon files, pasdar icons, hide login iconNot demanding issues of paper money, in particular, on currency transactions,Operations on transfer of money, and also collecting of debts and an investment of the free The rests of means. It hoped that in due course banks will be established Only for these purposes, without applying for possession of the issue rights. It Spent distinction between two interpretation of the term "freedom of the bank Business "with. 69, in the same place:" the First of them means that to everyone The person or association of people is allowed to issue paper money on Identical conditions. The second - that paper money can be issued by everyone The person or association of people out of any legislative Restrictions. "As to the first of these interpretation, which after an exit in Light of the New York legislation of 1838 it was used almost by all English-speaking researchers its Gelletin was ready to support. Together with That, in its opinion, the absolute competition should not extend on Banking in the same place, with. 70, as the purposes reached by means Competition in manufacture of the goods, in particular, depreciation and Quality improvement, were not actual for bank business. We already some times referred to the thesis of free bank business about that, That within the limits of competitive system there is an automatic mechanism, Tracing superissue. The principle of its action consists that banknotes The banks which have let out their excessive quantity, come back to the emitters in Exchange for gold. In that part in which it depends decisions of general public To change bills for gold, this thesis has already been denied the Poppy-kulohom. But After all there are still mutual obligations of banks. We also already resulted a critical remark of Normana about that, as in it Case the mechanism appears inefficient, if all or the majority of banks Dare at expansion and operate thus synchronously. Now we pass to To consideration of the argument which have been put forward by Mauntifortom Longfildom (Mountifort
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