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Losses the in what not to guilty contenders, the behaviour justifying State intervention.] Before to address to the fourth and fifth arguments in advantage The centralised system, we will distract a little aside and we will consider

Interrelation of the arguments already analysed by us above, with two connected with

Them problems, namely, with prohibition of circulation of banknotes of small face value and with

Correctness of clearing of depositary business from the restrictions imposed on

Bank issue.

Those arguments which we have considered concerning issue of banknotes in general, still

Are more actual with reference to banknotes with small face value. First, Small banknotes with the greatest probability come into the hands poor and Rather less the population literate, least Capable to do distinction between emitters. Secondly, they, as a rule, not So often come back in banks, thereby, doing the control over them

Convertibility the rare. On the contrary, bills of large face value, besides the frequent

Return to the banks, fall mainly into hands those who operates The considerable sums also uses them for calculations with banks. Seldom Converted and in quiet conditions, small banknotes become especially

Dangerous at occurrence of the slightest signs of crisis: after all the most subject

To panic there are just poor and people having little education [see, for example,

Horsli Palmer's certificates before the Commission of 1832 (Q. 273), where it

What even Wagner who supported data of restrictions to a minimum, considered

Quite reasonable to forbid circulation of small bills within the limits of free system.

The majority of those who supported introduction of restrictions on freedom of the bank

Issues, at all did not consider necessary their application to depositary business.

The considerable part of these people with the big enthusiasm even struggled for freedom in

To this sphere of a banking.

At various steps of development of the theory of money and the credit were put forward most

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Basic Icons for Vista Basic Icons for Vista is a pack of smooth and professionally finished icons created in the same manner as the original Vista icons. The images come in two versions: with or without shadows.

Database Icon Set Database Icon Set delivers you lots of bright and colorful icons for database application development. The images are available in all the typical icon sizes and file formats include GIF, ICO, BMP and PNG.

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