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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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