Free banking - Revision history

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Repoint 4 dead mises.org links to the archived original (automated; see Austrian Economics Wiki:Link repointing)

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	#[[Australia]]. In the late 19th century, banking in Australia was subject to little regulation. There were four large banks with over 100 branches each, that together had about half of the banking business, and [[Branch (banking)\|branch banking]] and deposit banking were much more advanced than other more regulated countries such as the UK and USA. Banks accepted each other's notes at par. Interest margins were about 4% p.a. In the 1890s a [[Real estate bubble\|land price crash]] caused the failure of many smaller banks and [[Building society\|building societies]]. [[Bankruptcy]] legislation put in place at the time gave bank debtors generous terms they could restructure under, and most of the banks used this as a means to restructure their debts in their favor, even though they didn't really need to.		#[[Australia]]. In the late 19th century, banking in Australia was subject to little regulation. There were four large banks with over 100 branches each, that together had about half of the banking business, and [[Branch (banking)\|branch banking]] and deposit banking were much more advanced than other more regulated countries such as the UK and USA. Banks accepted each other's notes at par. Interest margins were about 4% p.a. In the 1890s a [[Real estate bubble\|land price crash]] caused the failure of many smaller banks and [[Building society\|building societies]]. [[Bankruptcy]] legislation put in place at the time gave bank debtors generous terms they could restructure under, and most of the banks used this as a means to restructure their debts in their favor, even though they didn't really need to.
	#[[Switzerland]].<ref>Briones, Ignacio and Hugh Rockoff. "Do Economists Reach a Conclusion on Free-Banking Episodes?", ''Econ Journal Watch'', Vol.2, No.2 (August 2005), pp.279-324.[http://econjwatch.org/issues/volume-2-issue-2-august-2005]</ref> In the 19th Century several [[Cantons of Switzerland\|Swiss cantons]] [[Deregulation\|deregulated]] banking, allowing free entry and issue of notes. Cantons retained jurisdiction over banking until the enactment of the Federal Banking Law of 1881. The centralisation of note issue reduced the problem of the existence of "a bewildering variety of notes of varying qualities ... at fluctuating exchange rates."<ref>[http://books.google.com/books?id=GGYTcGAG3VoC&pg=PA208&dq=free+banking+in+britain&lr=&sig=bKCluBzIxLjNWa71ONd5eZbsWr8#PPA211,M1 The Central Bank and the Financial System], Charles Albert Eric Goodhart, p. 211.</ref>		#[[Switzerland]].<ref>Briones, Ignacio and Hugh Rockoff. "Do Economists Reach a Conclusion on Free-Banking Episodes?", ''Econ Journal Watch'', Vol.2, No.2 (August 2005), pp.279-324.[http://econjwatch.org/issues/volume-2-issue-2-august-2005]</ref> In the 19th Century several [[Cantons of Switzerland\|Swiss cantons]] [[Deregulation\|deregulated]] banking, allowing free entry and issue of notes. Cantons retained jurisdiction over banking until the enactment of the Federal Banking Law of 1881. The centralisation of note issue reduced the problem of the existence of "a bewildering variety of notes of varying qualities ... at fluctuating exchange rates."<ref>[http://books.google.com/books?id=GGYTcGAG3VoC&pg=PA208&dq=free+banking+in+britain&lr=&sig=bKCluBzIxLjNWa71ONd5eZbsWr8#PPA211,M1 The Central Bank and the Financial System], Charles Albert Eric Goodhart, p. 211.</ref>
	#[[Scotland\|Scottish]] Free Banking.<ref>"Do Economists Reach a Conclusion on Free-Banking Episodes?". op. cit.</ref> This period lasted between 1716 and 1845. [[Bank of Scotland\|The Bank of Scotland]], the original Scottish bank charter and [[Royal Bank of Scotland\|The Royal Bank of Scotland]], chartered by [[England]], issued competitive currencies. This resulted in a "[[currency war]]" in 1727. The result was a cooperative equilibrium, where both banks agreed to accept rival banks' notes in the ordinary course of business. This area of study has been developed further by [[Lawrence H. White]] in his book ''Free Banking in Britain: Theory, Experience and Debate 1800-1845''<ref>Lawrence H. White, [http://www.amazon.com/dp/0255363753/ ''Free Banking in Britain: Theory, Experience and Debate 1800-1845''], London: [[Institute of Economic Affairs]], 1995, ISBN 0-255-36375-3.</ref> This example has been contested by [[Murray Rothbard]],<ref>[[Murray Rothbard\|Rothbard, Murray]] [~~http~~://~~mises~~.org/journals/rae/~~pdf~~/~~RAE2_1_15.pdf~~ The Myth of Free Banking in Scotland]</ref> resulting in a reply by White.<ref>George Selgin and Lawrence H. White, [~~http~~://~~mises~~.org/journals/rae/~~pdf~~/~~rae9_2_5.pdf~~ In Defense of Fiduciary Media- or, We are Not Devo(lutionists) We are Miseasians], The Review of Austrian Economics, Vol. 9, No. 2, (1996):83-107 ISSN 0889-3047.</ref>		#[[Scotland\|Scottish]] Free Banking.<ref>"Do Economists Reach a Conclusion on Free-Banking Episodes?". op. cit.</ref> This period lasted between 1716 and 1845. [[Bank of Scotland\|The Bank of Scotland]], the original Scottish bank charter and [[Royal Bank of Scotland\|The Royal Bank of Scotland]], chartered by [[England]], issued competitive currencies. This resulted in a "[[currency war]]" in 1727. The result was a cooperative equilibrium, where both banks agreed to accept rival banks' notes in the ordinary course of business. This area of study has been developed further by [[Lawrence H. White]] in his book ''Free Banking in Britain: Theory, Experience and Debate 1800-1845''<ref>Lawrence H. White, [http://www.amazon.com/dp/0255363753/ ''Free Banking in Britain: Theory, Experience and Debate 1800-1845''], London: [[Institute of Economic Affairs]], 1995, ISBN 0-255-36375-3.</ref> This example has been contested by [[Murray Rothbard]],<ref>[[Murray Rothbard\|Rothbard, Murray]] [https://freecapitalists.org/journals/rae/rae2-1-15/ The Myth of Free Banking in Scotland]</ref> resulting in a reply by White.<ref>George Selgin and Lawrence H. White, [https://freecapitalists.org/journals/rae/rae9-2-5/ In Defense of Fiduciary Media- or, We are Not Devo(lutionists) We are Miseasians], The Review of Austrian Economics, Vol. 9, No. 2, (1996):83-107 ISSN 0889-3047.</ref>
	#[[United States]].<ref>Ibid</ref> Although the period from 1837 to 1864 in the U.S. is often referred to as the [[History of central banking in the United States#1837.E2.80.931862: Free Banking Era\|Free Banking Era]], the term is something of a misnomer, for it refers not to a general system of "free" banking in the literal sense described previously, but rather to various state banking systems based on so-called "free banking" laws, which, though they made it unnecessary for new entrants to secure charters (each of which was subject to a vote by the state legislature), nonetheless restricted their undertakings in important ways. Most importantly, U.S. "free" banks were denied the right to establish branch networks, and had to "secure" their notes by purchasing and surrendering to state banking authorities certain securities those authorities deemed eligible for the purpose. The securities in many cases included bonds of the authorizing state governments themselves; and it has been determined that the depreciation of these very securities was the chief cause of "free bank" failures, and indeed of bank failures generally, during the period in question. The lack of branch banking, in turn, caused state-issued banknotes to be discounted at varying rates once they had traveled any considerable distance from their sources. In short, the shortcomings of banks and bank-supplied paper currency during the so-called "free banking era" in the U.S., far from establishing the need for special regulation of banks, testifies to the dangers of unwarranted or unwise regulation. Then, from 1863 to 1913, known as the [[History of central banking in the United States#1863–1913: National Banks\|National Banks Era]], state-chartered banks were still operating under a free banking system. Some scholars have found that the system was mostly stable.<ref>[http://books.google.com/books?id=0uhyai9jSGgC Microeconomics of Banking], De Xavier Freixas, Jean-Charles Rochet, p. 261.</ref>		#[[United States]].<ref>Ibid</ref> Although the period from 1837 to 1864 in the U.S. is often referred to as the [[History of central banking in the United States#1837.E2.80.931862: Free Banking Era\|Free Banking Era]], the term is something of a misnomer, for it refers not to a general system of "free" banking in the literal sense described previously, but rather to various state banking systems based on so-called "free banking" laws, which, though they made it unnecessary for new entrants to secure charters (each of which was subject to a vote by the state legislature), nonetheless restricted their undertakings in important ways. Most importantly, U.S. "free" banks were denied the right to establish branch networks, and had to "secure" their notes by purchasing and surrendering to state banking authorities certain securities those authorities deemed eligible for the purpose. The securities in many cases included bonds of the authorizing state governments themselves; and it has been determined that the depreciation of these very securities was the chief cause of "free bank" failures, and indeed of bank failures generally, during the period in question. The lack of branch banking, in turn, caused state-issued banknotes to be discounted at varying rates once they had traveled any considerable distance from their sources. In short, the shortcomings of banks and bank-supplied paper currency during the so-called "free banking era" in the U.S., far from establishing the need for special regulation of banks, testifies to the dangers of unwarranted or unwise regulation. Then, from 1863 to 1913, known as the [[History of central banking in the United States#1863–1913: National Banks\|National Banks Era]], state-chartered banks were still operating under a free banking system. Some scholars have found that the system was mostly stable.<ref>[http://books.google.com/books?id=0uhyai9jSGgC Microeconomics of Banking], De Xavier Freixas, Jean-Charles Rochet, p. 261.</ref>
	#[[Sweden]].<ref>"Do Economists Reach a Conclusion on Free-Banking Episodes?", op. cit.</ref> Sweden had two periods of free banking, 1830–60 and 1860-1902. Following a bank crisis in 1857, there was a rise in popular support for private banks and private money issuers (especially [[Stockholms Enskilda Bank]], founded in 1856). A new bank law was adopted by parliament in 1864, deregulating the [[interest rate]]. The following decades marked the height of the Swedish free banking era. After 1874, no new private banks were founded. In 1901, issuing of private money was prohibited. Work on the Swedish free banking era has been done by Per Hortlund and [[Erik Lakomaa]]. Erik Lakomaa (The Quarterly Journal of Austrian Economics, Summer 2007), has demonstrated that the Swedish experiment in free banking was successful. It reduced booms and busts. Only one bank went bankrupt for 70 years, an event related to fraud and not to excessive lending as has happened wherever central banking has been practiced.		#[[Sweden]].<ref>"Do Economists Reach a Conclusion on Free-Banking Episodes?", op. cit.</ref> Sweden had two periods of free banking, 1830–60 and 1860-1902. Following a bank crisis in 1857, there was a rise in popular support for private banks and private money issuers (especially [[Stockholms Enskilda Bank]], founded in 1856). A new bank law was adopted by parliament in 1864, deregulating the [[interest rate]]. The following decades marked the height of the Swedish free banking era. After 1874, no new private banks were founded. In 1901, issuing of private money was prohibited. Work on the Swedish free banking era has been done by Per Hortlund and [[Erik Lakomaa]]. Erik Lakomaa (The Quarterly Journal of Austrian Economics, Summer 2007), has demonstrated that the Swedish experiment in free banking was successful. It reduced booms and busts. Only one bank went bankrupt for 70 years, an event related to fraud and not to excessive lending as has happened wherever central banking has been practiced.
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	* [http://www.freebanking.org/ FreeBanking.org] blog of leading free banking advocates		* [http://www.freebanking.org/ FreeBanking.org] blog of leading free banking advocates
	* [http://www.reinventingmoney.com/ Reinventing Money]		* [http://www.reinventingmoney.com/ Reinventing Money]
	* "Free Banking and the Free Bankers" ([~~http~~://~~mises~~.org/journals/rae/~~pdf~~/~~rae9_1_1.pdf~~ PDF]) by [[Jörg Guido Hülsmann]], 1996		* "Free Banking and the Free Bankers" ([https://freecapitalists.org/journals/rae/rae9-1-1/ PDF]) by [[Jörg Guido Hülsmann]], 1996
	* [[Murray Rothbard\|Rothbard, Murray]]. [~~http~~://~~mises~~.org/journals/rae/~~pdf~~/~~RAE2_1_15.pdf~~ The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.		* [[Murray Rothbard\|Rothbard, Murray]]. [https://freecapitalists.org/journals/rae/rae2-1-15/ The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.
	*[http://www.cato.org/pubs/journal/cj7n3/cj7n3-5.pdf ''Automatic Stabilizing Mechanisms Under Free Banking'' (pdf)] by Kevin Dowd		*[http://www.cato.org/pubs/journal/cj7n3/cj7n3-5.pdf ''Automatic Stabilizing Mechanisms Under Free Banking'' (pdf)] by Kevin Dowd
	* [http://www.the-portal.org/mutual_banking.htm ''Mutual Banking'' (1974 reprint of 1946 Modern Publishing edition)], [http://libertarian-labyrinth.org/greene/wbg-mb1850.html ''Mutual Banking'' (1850 edition)] by [[William Batchelder Greene]]		* [http://www.the-portal.org/mutual_banking.htm ''Mutual Banking'' (1974 reprint of 1946 Modern Publishing edition)], [http://libertarian-labyrinth.org/greene/wbg-mb1850.html ''Mutual Banking'' (1850 edition)] by [[William Batchelder Greene]]

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	* [http://www.freebanking.org/ FreeBanking.org] blog of leading free banking advocates		* [http://www.freebanking.org/ FreeBanking.org] blog of leading free banking advocates
	* [http://www.reinventingmoney.com/ Reinventing Money]		* [http://www.reinventingmoney.com/ Reinventing Money]
			* "Free Banking and the Free Bankers" ([http://mises.org/journals/rae/pdf/rae9_1_1.pdf PDF]) by [[Jörg Guido Hülsmann]], 1996
	* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/journals/rae/pdf/RAE2_1_15.pdf The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.		* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/journals/rae/pdf/RAE2_1_15.pdf The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.
	*[http://www.cato.org/pubs/journal/cj7n3/cj7n3-5.pdf ''Automatic Stabilizing Mechanisms Under Free Banking'' (pdf)] by Kevin Dowd		*[http://www.cato.org/pubs/journal/cj7n3/cj7n3-5.pdf ''Automatic Stabilizing Mechanisms Under Free Banking'' (pdf)] by Kevin Dowd

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added links

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	* [[Fractional reserve banking]]		* [[Fractional reserve banking]]
	**[[Criticism of fractional reserve banking]]		**[[Criticism of fractional reserve banking]]
			* ''[[The Mystery of Banking]]''


	== References ==		== References ==
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	== Links ==		== Links ==
	* ~~[[Murray Rothbard\|Rothbard, Murray]].~~ [http://~~mises~~.org/~~mysteryofbanking/mysteryofbanking~~.~~pdf The Mystery~~ of ~~Banking],~~ [~~[Ludwig von Mises Institute]]~~. ~~2008~~.		* [http://www.freebanking.org/ FreeBanking.org] blog of leading free banking advocates
			* [http://www.reinventingmoney.com/ Reinventing Money]
	* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/journals/rae/pdf/RAE2_1_15.pdf The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.		* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/journals/rae/pdf/RAE2_1_15.pdf The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.
	*[http://www.cato.org/pubs/journal/cj7n3/cj7n3-5.pdf ''Automatic Stabilizing Mechanisms Under Free Banking'' (pdf)] by Kevin Dowd		*[http://www.cato.org/pubs/journal/cj7n3/cj7n3-5.pdf ''Automatic Stabilizing Mechanisms Under Free Banking'' (pdf)] by Kevin Dowd
	* [http://www.the-portal.org/mutual_banking.htm ''Mutual Banking'' (1974 reprint of 1946 Modern Publishing edition)], [http://libertarian-labyrinth.org/greene/wbg-mb1850.html ''Mutual Banking'' (1850 edition)] by [[William Batchelder Greene]]		* [http://www.the-portal.org/mutual_banking.htm ''Mutual Banking'' (1974 reprint of 1946 Modern Publishing edition)], [http://libertarian-labyrinth.org/greene/wbg-mb1850.html ''Mutual Banking'' (1850 edition)] by [[William Batchelder Greene]]
	*[http://www.econlib.org/library/LFBooks/SmithV/smvRCBCover.html] Vera Smith's 1936 book, ''Rationale for Central Banking'']		*[http://www.econlib.org/library/LFBooks/SmithV/smvRCBCover.html] Vera Smith's 1936 book, ''Rationale for Central Banking'']
	* [http://www.reinventingmoney.com/ Reinventing Money]
	* [http://www.econlib.org/library/Bagehot/bagLom.html Walter Bagehot: ''Lombard Street: A Description of the Money Market'' (1873) Library of Economics and Liberty]		* [http://www.econlib.org/library/Bagehot/bagLom.html Walter Bagehot: ''Lombard Street: A Description of the Money Market'' (1873) Library of Economics and Liberty]
	* [http://www.econlib.org/library/Essays/hykKnw1.html Friedrich A. Hayek: "The Use of Knowledge in Society" (1945) Library of Economics and Liberty]		* [http://www.econlib.org/library/Essays/hykKnw1.html Friedrich A. Hayek: "The Use of Knowledge in Society" (1945) Library of Economics and Liberty]
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	* [[William Batchelder Greene]]: ''Mutual Banking'', [http://www.the-portal.org/mutual_banking.htm 1974 reprint of 1946 Modern Publishing edition], [http://libertarian-labyrinth.org/greene/wbg-mb1850.html 1850 edition]		* [[William Batchelder Greene]]: ''Mutual Banking'', [http://www.the-portal.org/mutual_banking.htm 1974 reprint of 1946 Modern Publishing edition], [http://libertarian-labyrinth.org/greene/wbg-mb1850.html 1850 edition]
	* [http://www.econlib.org/library/LFBooks/SmithV/smvRCBCover.html Vera Smith: ''The Rationale of Central Banking'' (1936) Library of Economics and Liberty]		* [http://www.econlib.org/library/LFBooks/SmithV/smvRCBCover.html Vera Smith: ''The Rationale of Central Banking'' (1936) Library of Economics and Liberty]
	* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/mysteryofbanking/mysteryofbanking.pdf ''The Mystery of Banking''], [[Ludwig von Mises Institute\|Ludwig von Mises Institute, 2008]]
	* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/journals/rae/pdf/RAE2_1_15.pdf The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.
	* [http://www.thefreelibrary.com/Rothbard+on+fractional+reserve+banking%3a+a+critique.%28Report%29-a0221917188 Michael S. Rozeff: "Rothbard on fractional reserve banking - a critique." ''Independent Review', March 22, 2010]		* [http://www.thefreelibrary.com/Rothbard+on+fractional+reserve+banking%3a+a+critique.%28Report%29-a0221917188 Michael S. Rozeff: "Rothbard on fractional reserve banking - a critique." ''Independent Review', March 22, 2010]

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External links: Fixed links.

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	*White, Lawrence. ''Competition and Currency: Essays on Free Banking and Money.'' New York University Press, 1992. Print.		*White, Lawrence. ''Competition and Currency: Essays on Free Banking and Money.'' New York University Press, 1992. Print.

	== ~~External links~~ ==		== Links ==
	* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/mysteryofbanking/mysteryofbanking.pdf The Mystery of Banking], [[Ludwig von Mises Institute]]. 2008.		* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/mysteryofbanking/mysteryofbanking.pdf The Mystery of Banking], [[Ludwig von Mises Institute]]. 2008.
	* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/journals/rae/pdf/RAE2_1_15.pdf The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.		* [[Murray Rothbard\|Rothbard, Murray]]. [http://mises.org/journals/rae/pdf/RAE2_1_15.pdf The Myth of Free Banking in Scotland], [[Ludwig von Mises Institute]]. 2008.

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Ddnixx: /* Advocates */

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Advocates

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	* [[Pascal Salin]]		* [[Pascal Salin]]
	* [[George Selgin]] <ref>http://www.richmondfed.org/publications/research/region_focus/2009/winter/full_interview.cfm</ref>		* [[George Selgin]] <ref>http://www.richmondfed.org/publications/research/region_focus/2009/winter/full_interview.cfm</ref>
	* [[Jesús Huerta de Soto]]
	* [[Lawrence H. White]]		* [[Lawrence H. White]]

Karmaisking: /* History of Free Banks */

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History of Free Banks

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	#[[Sweden]].<ref>"Do Economists Reach a Conclusion on Free-Banking Episodes?", op. cit.</ref> Sweden had two periods of free banking, 1830–60 and 1860-1902. Following a bank crisis in 1857, there was a rise in popular support for private banks and private money issuers (especially [[Stockholms Enskilda Bank]], founded in 1856). A new bank law was adopted by parliament in 1864, deregulating the [[interest rate]]. The following decades marked the height of the Swedish free banking era. After 1874, no new private banks were founded. In 1901, issuing of private money was prohibited. Work on the Swedish free banking era has been done by Per Hortlund and [[Erik Lakomaa]]. Erik Lakomaa (The Quarterly Journal of Austrian Economics, Summer 2007), has demonstrated that the Swedish experiment in free banking was successful. It reduced booms and busts. Only one bank went bankrupt for 70 years, an event related to fraud and not to excessive lending as has happened wherever central banking has been practiced.		#[[Sweden]].<ref>"Do Economists Reach a Conclusion on Free-Banking Episodes?", op. cit.</ref> Sweden had two periods of free banking, 1830–60 and 1860-1902. Following a bank crisis in 1857, there was a rise in popular support for private banks and private money issuers (especially [[Stockholms Enskilda Bank]], founded in 1856). A new bank law was adopted by parliament in 1864, deregulating the [[interest rate]]. The following decades marked the height of the Swedish free banking era. After 1874, no new private banks were founded. In 1901, issuing of private money was prohibited. Work on the Swedish free banking era has been done by Per Hortlund and [[Erik Lakomaa]]. Erik Lakomaa (The Quarterly Journal of Austrian Economics, Summer 2007), has demonstrated that the Swedish experiment in free banking was successful. It reduced booms and busts. Only one bank went bankrupt for 70 years, an event related to fraud and not to excessive lending as has happened wherever central banking has been practiced.

	There is speculation that with [[Electronic money\|electronic currencies]] free banking can evolve into anonymous [[Online banking\|internet banking]]. The implications of this for the monetary system are unknown, and much of the rigorous theory in this area has been abandoned for a "wait and see" attitude.~~{{Citation needed\|date=April 2007}}~~		There is speculation that with [[Electronic money\|electronic currencies]] free banking can evolve into anonymous [[Online banking\|internet banking]]. The implications of this for the monetary system are unknown, and much of the rigorous theory in this area has been abandoned for a "wait and see" attitude.

	== Advocates ==		== Advocates ==

Karmaisking: /* External links */

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External links

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	[[Category:Libertarian theory]]		[[Category:Libertarian theory]]
	[[Category:Monetary reform]]		[[Category:Monetary reform]]

	~~[[de:Free Banking]]~~
	~~[[es:Banca libre]]~~
	~~[[fr:Banque libre]]~~
	~~[[it:Free banking]]~~
	~~[[ru:Свободный банкинг]]~~
	~~[[fi:Vapaa pankkitoiminta]]~~

Karmaisking: /* References */

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References

← Older revision		Revision as of 02:46, 20 April 2011
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	== References ==		== References ==
	~~{{Ibid\|date=July 2010}}~~
	{{reflist}}		{{reflist}}
	*Ebenstein, Alan. ''Friedrich Hayek: A Biography.'' University of Chicago Press, 2003. Print.		*Ebenstein, Alan. ''Friedrich Hayek: A Biography.'' University of Chicago Press, 2003. Print.

← Older revision		Revision as of 22:37, 12 April 2012
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	== See also ==		== See also ==
			* [[Full reserve banking]]
			* [[Fractional reserve banking]]
			**[[Criticism of fractional reserve banking]]
			**[[Argumentation:Fractional Reserve Banking]]
			* [[Argumentation:Gold]]
			*[[Gold standard]]
			*[[GoldMoney]]
			*[[Money creation]]
			*[[Monetary reform]]
			*[[Reserve requirement]]
			*[[Seignorage]]
			*[[Silver standard]]
	* [[Henry Meulen]]		* [[Henry Meulen]]
	* [[Richard Salsman]]		* [[Richard Salsman]]
	* [[Fractional reserve banking]]
	**[[Criticism of fractional reserve banking]]
	* ''[[The Mystery of Banking]]''		* ''[[The Mystery of Banking]]''


	== References ==		== References ==

← Older revision		Revision as of 21:54, 21 May 2011
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	* [[Henry Meulen]]		* [[Henry Meulen]]
	* [[Richard Salsman]]		* [[Richard Salsman]]
			* [[Fractional reserve banking]]
			**[[Criticism of fractional reserve banking]]

	== References ==		== References ==