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Identical reserves of gold. We will assume that one of banks begins actively

To expand the credits and issue of banknotes. We will assume further that public

Starts to show demand for gold (for example, demanding it in export payment After expansion of fiduciary weight and the subsequent inflation

Has made scarce the balance of payments). Thus it appears that demand growth on

Gold it will be addressed both banks, and not just the bank guilty of surplus

Fiduciary weight. As a result of a gold reserve of bank, which not

Increased quantity of the banknotes in circulation, will decrease in comparison with

This quantity. If this bank with a moderate policy of monetary expansion Will want to restore former norm of a reserve covering, it should

To reduce volume of the business operations that, however, will give the chance it

To the competitor to spend and further active monetary expansion. The first bank can

In general to burst, if with a view of self-defence also will not begin the expanded issue.

Generally: the country having some or many banks, letting out

Banknotes, will suffer from alternation of recessions and liftings of business activity,

The high and low prices. To bank monetary expansion mainly will be favourable in

The period of strengthening of business activity, and at occurrence of a panic it will be quickly

To curtail scope of the business operations. Hardly probable it is possible to think up system

More pernicious for the country. Smith considers this argument in the final chapter; probably, here It is necessary to result some explanations. According to Smith one of lacks Arguments of Longfilda consists that it has not considered that a constant

Monetary expansion of one group of banks and reduction of monetary weight another

Group will lead to increase in outflow of gold and will mention reserves Banks-ekspansionistov which will be settled before banks from the moderated Monetary expansion leaves business. Rather less significant lack of argument of Longfilda consisted in it

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Large Weather Icons Large Weather Icons represent different weather conditions typical in software, weather Web sites, and mobile gadgets. The icons are available in typical sizes standard to Windows, Mac OS, and other platforms. The largest versions are huge 512x512 pixel icons with vector sources in Adobe Illustrator (.ai) format easily affordable and ready to be printed or used in presentations in highest quality.

Business Icon Set Business Icon Set. A collection of all-purpose icons with various symbols for the business environment for use with your software or on your website.

Software Toolbar Icons Software Toolbar Icons is a pack of top-quality handmade icons created by experienced artists for developers and webmasters. This icon set represents a wide range of software-related topics.

Medical Icons for Vista Medical Icons for Vista has been design to eliminate any misunderstanding appearing while viewing a medical webpage or operating a medical program. The icons are available in various sizes and formats.

16x16 Pixel Toolbar Icons 16 x 16 Pixel Toolbar Icons collection contains everything that are necessery for your web site or software toolbar.