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Historically. This omission is especially obvious in the light of the progress made
Economic science since the moment when this problem was actively discussed.
let out in 1928, Unique this sort of call has been thrown by Mizesom (Mises) in it
"Geldwertstabilisierung und Konjunkturpolitik" More
That, that discussion which represents a stumbling-block in the environment
Founding fathers, it is familiar marvellously to a little present generation, especially
To Englishmen. In the same way we see that the structures responsible for creation
No central banks in the countries, before doing without those, had
Some accurate representation about potential benefits of such step.
The purpose of the present essay is research of motives which have led
To establishment of the central banks, and also opening of these theoretical bases
Motives. Research of the reasons which have led in due course to decision-making in
Advantage centralised, instead of free, bank system, finds out that
In many countries a combination of political grounds to historical accidents
Has played in this choice a role much more considerable, rather than any
Deeply thought over economic principle.
The exact value put in terms "free bank system" and
"The centralised bank system", becomes clear on a perusal course
Jobs; while we will formulate a problem in the form of following questions: what form
Release of banknotes is preferable - that at which process is
In hands of the one and only bank or definitely limited
Numbers of the authorised banks from which one bank uses the exclusive
Position in comparison with others, possessing possibility them to supervise, or
It is better, that the right of release of banknotes belonged to any quantity of banks,
Which find such business profitable? Further, if the choice is made in advantage
Last variant and the pluralism, thus, is admitted, whether there is a necessity
In special restrictions, such as preliminary pledge of property or
Deposition of bonds to protect holders of banknotes from the possible
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