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Sight any more has no the value, what part of contributions will accept further the formPaper money. All depends on a choice made public, - in advantage Deposits on flowing to the bill or banknotes. Adherents of less rigid direction of monetary school, and also supporters Bank school considered banknotes as means "economy Precious metals "what, as a rule, followed understand as "Granting of cheaper credit". Being representatives most
Rigid wing of monetary school, Gajer and Telkampf considered banknotes only in
Quality of more convenient way of moving and transportation of money. Follows
To notice that such authors as Tuk (Tooke) and Wagner, saw unique
Lack of increase in weight of paper money of their possibility of the further
Depreciation (and price level growth) and as such expansion is frequent not
It was accompanied by falling of purchasing capacity of money, they did a conclusion that
Growth of monetary weight not always represents harms "Beitrage zur Lehre von den Banken ", see Wagner, c. 81 - 86. It, eventually, has seen that
Changes of volume of monetary weight lead to shifts in structure of manufacture with
Certain undesirable consequences. In the subsequent jobs of Telkampf also held the opinion that, if the plan Issue associations in one hands and its bindings to gold cannot be It is realised, the following best alternative is the Scottish system. It seems that Telkampf concerned this system as to very good spare To variant.
Disputes in Germany have come to the end with a number of the publications which were issued in the beginning 1870
Years, just on the eve of education of Rejhsbanka (Reichsbank). Among these
Publications there was Leopold Las-kera's lampoon (Leopold Lasker) "Bankfreiheit oder
nicht? ", 1871. He confirmed, and, probably, not without the bases especially in the light of
That the argument of Longfilda remained almost unknown German
To public that has not been convincingly shown yet why the bank sphere should
To serve as an exception of a rule of free business, applicable to
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