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- . [See Fraser's Magazine, 1868. "The Controversy on Free Banking
betweeen M. Wolowski and M. Michael Chevalier ". The analysis of a problem made
Checks the Price, has not brought anything especially new. See it "Principles of
Currency, "1869.] In addition to it, thanks to carrying out of Bank Interrogation,
Between English and French economists straight lines have been established also
Contacts. It has been called for a personal witnessing before the Commission,
And Henki, Njumarch, Patterson and J. S.Mill was presented by the written
Memorandums. It has visited London in 1866 and was present at meeting
Political economy club. At this meeting Bejdzhhot has read article,
Called to answer a question, whether "it is necessary to entrust care of conformity
Gold reserves to bank obligations to any one bank, or
It is necessary to distribute this responsibility between several banks? "[See
"Political Economy Club, Centenary Volume", Vol. VI, c. 86]
Reaction in England on news that the Bank of France has accepted a policy of change
Discount rate in reply to movement of gold reserves, was as a whole
The positive. "Economist" has proclaimed this event by a long-awaited recognition
Principles which the magazine defended on the pages for many years.
The theory of the discount rate which at that time for the present has been not quite developed in a part
Explanations of all consequences of application of this tool and, in particular, it
Influences on structure of the prices and country incomes, has received in England enough
Wide circulation. There was it under the influence of jobs the Poppy-leoda [' Theory
and Practice of Banking ", 1865] and Goshena [" Foreign Exchanges ", 1861],
To which managed to show to the world of bank business that a discount rate
Can be used as a lever on the balance of payments and
- has subjected to criticism the French school of a low discount rate [in article "Seven
Per Cent ", published in Edinburgh Review for January, 1865 and then
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