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Attentive studying of its conditions and this transfer could precede
Easy to stand aside... However all know that so does not happen. "].
To the purchase considered that issue freedom will lead to its self-damage,
Adhering, thus, to a position similar to the point of view of Tsernuchchi, though and
Not so categorical. He assumed that as a result of the numerous
Bankruptcies to which the free system has been doomed, should occur
One or the other: or people, seeing contrast between a status of the majority of private soldiers
Banks and position of several or even one strongest of them, in
The future would began to trust only to this little or this unique bank,
Having established thereby exclusive system de facto; or the free system was
It is rejected as that and banknotes would disappear in general. If construction
Systems of soundly organised and solid banks all the same it would appear
Possible, result of pluralism, in opinion to the Purchase, would become at all
Decrease in the rate of percent, and its growth: after all banks would aspire even in
Normal conditions to keep considerable reserves. Even at the time of
Stability and at the set quantity of an active money cumulative reserves
Sets of banks should exceed the sum of reserves of unique bank.
Centralisation of reserves, being a power source at the time of crises, was still
One plus of the centralised system. Thus, advantages of monopoly
Were in eyes to the Purchase much more powerful, than danger of that the state
Will abuse the power over unique bank of issue.
The position of supporters of freedom was in the best way presented by Z.E.Horn ["La
Uberte des Banques ", 1866]. First of all it has rejected argument of the royal
Privileges from the economic point of view [in the same place, with. 62]. Underlining that fact,
That the first stamping of coins was mastered by private business, Horn has specified on two probable
The reasons on which this activity was then it is usurped by the state in
Quality of the exclusive royal right. The aspiration to facilitate was the first
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