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Sight any more has no the value, what part of contributions will accept further the form

Paper 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 c. 81 - 86, see Wagner, "Beitrage zur Lehre von den Banken ". 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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