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Generated the special form of the organisation of a banking which now it is accepted

To name the centralised system. Its sources can be found out in creation Monopolies, partial or absolute, on realisation of the issue

Activity. Monopolies in this sphere managed to worry protectionism cancellation

In all other areas of economic activities. Those from them that

Existed even before formation of the theory of free trade, have survived and have got stronger.

In the same place, where monopolies earlier was not, they have arisen. Analyzing the circumstances accompanying occurrence of the majority Monopolies, we find out that very first of them have been generated

Political factors. Creation of monopolies has been closely connected with the extreme

Situations in which there were public finances. Any

The economic reasons in favour of the permission or prohibition of the free admission in

Sphere of issue activity those years did not exist, and could not To exist basically. However, once having been born, monopolies not Hurried up to disappear - they have held on up to, and after that moment, When economic feasibility of their existence at last has been put

Under doubt. The verdict which has been taken out as a result of discussions about destiny of the issue

Business, it has appeared in favour of uniformity and monopoly, instead of a competition. After

It the superiority of the centralised system over its alternative has turned

In the dogma which never more was exposed to discussion, and a choice in its advantage at

Creation of all subsequent central banks any more did not call questions,

Comments. In the present chapter we will remind and we will analyse the main arguments

Supporters of the centralised system, directed against its logic

Alternatives. Then we will try to estimate reasonableness and persuasiveness of these


To begin with it can appear rather useful once again to formulate most the general

Distinctions between two alternative bank systems. Most The simplified definition of the centralised system says that it represents Itself system in which frameworks the unique bank possesses full or Partial monopoly for realisation of issue activity. Partial

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