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Monetary Commission)]. The jobs published by the Commission have inclined reformers in

Advantage of constantly operating centralised organisation, which Issued paper money on the basis of gold and commercial obligations, Operated as the creditor in an ultimate authority and, besides,

Supervised a credit market through the rate of percent and operation on the opened

The market.

Eventually, creation Federal became result of recommendations of the Commission

Reserve System. On the structure it considerably differed from The central banks of the European countries. Its structure included twelve Regional Federal Reserve Banks, in which structure of the property

The important place belonged to the banks, received membership in new system and

Brought in it the capital. All national banks should in the obligatory Order to enter Federal Reserve System. To these banks, activity

Which it was co-ordinated by Federal Reserve Council, functions have been transferred

Issues of banknotes and storage of reserves of banks-members, and also credit

Activity through repeated placing of the capitals among banks-members.

Retrospective sight at preconditions of creation of Federal Reserve System and

Circumstances accompanying it gives the grounds to assume that Considerable, and can be, and the most part of defects American bank Systems could be, basically, more naturally resolved other means

Without establishment of the central bank. As that, absence of the central bank

At all was not root of all evil, and though its establishment has definitely led

To the partial decision of problems, which for the technical or political reasons

Could not be solved other means, Federal Reserve System and Could not do anything with some fundamental lacks of system:

Any of them have been eliminated not up to the end, and any - and at all remained without


The chapter XII. The general review of arguments in favour of the centralised bank system

The statement of the historical and logic reasons was the purpose of the previous heads,

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Basic Icons for Vista Basic Icons for Vista is a set of sleek and professionally finished icons crafted in the similar style as the original Vista icons. The icons come in two versions: with or without shadows.

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

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.

Medical Icons for Vista Medical Icons for Vista has been created to avoid any misunderstanding appearing while viewing a medical Web site or using a medical software. The images are provided in various sizes and formats.

Transport Icon Set Transport Icon Set. A collection of colorful and distinctive icons depicting all transport types for the transport and tourist industries.