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The present paper money was a constant element of monetary circulation, and

Their quantity has not been connected with requirements of trade. This factor, such

In the image, made appreciable and long-term impact on a price level. In a case

Banknotes return of means after loan term provided conditions for Maintenance of constant convertibility. After all as a result of this return

Occurred one or the other: or in circulation the quantity of banknotes decreased,

Or in bank reserves arrived gold.

Critics of this point of view underlined that it does not provide one important

The fact: namely that loan scales, on the security of trading bills or Any else securities, at all are not once and for all fixed And not dependent on a bank policy. On the contrary, being rate function Percent, these scales can extend indefinitely, while banks Offer credits under enough low interest. Secondly, asserting that Only one observance of a principle of "maintenance in bank weight" quite It is enough to avoid any dangers in the future, for example, Losses of reserves, and after it is also convertibility of banknotes, as at It banknotes would be issued only for short time and could be quickly

It is withdrawn?! From the reference, this bank school ignored one important true:

Superissue (if it is carried out by the majority of banks in the conditions of the free

Competition and it is unconditional in the conditions of monopoly), even such which lasts

So short period of time as term of a life of trading bills, cannot be

It is instantly liquidated, without having generated thus consequences, characteristic for

Any reduction of the credit and which it is considered to be interfaced with Superissue by harm. Reduction of volume of given loans should To call shocks in financial and industrial spheres. Any one of Banks in a status considerably to reduce the credits and not to provoke at

The formed tears will not be given out by any other bank. It already Represents a problem of structural shifts, and all components of system not Should move simultaneously. The in itself fact that credits are given Banks for short time, yet does not mean that reduction of the sizes Crediting can instantly occur and not call thus those shocks, To prevent which the monetary school wanted. Nevertheless, there is one position concerning a principle "Maintenance in bank weight" and automatic return of banknotes, which Can possess certain degree of effectiveness within the limits of free system And in no way - in centralised. This position concerns possibilities

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Large Weather Icons Large Weather Icons represent a number of weather conditions typical in software, weather Web sites, and mobile gadgets. The images come in typical resolutions standard to Windows, Mac OS, and other platforms. The largest versions are huge 512x512 pixel icons with vector sources in Adobe Illustrator (.ai) format easily available and ready to be printed or used in presentations in highest resolution.

Basic Icons for Vista Make your software look as nice as Vista with icons crafted in the same style

Business Icon Set Business Icon Set. A collection of all-purpose icons with various symbols for the business environment for use with your software or on your website.

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