Sentences with phrase «scottish free banking»
That Hayek should have written as if he was quite unaware of the Canadian experience or, for that matter, of the still more famous Scottish free banking episode is extremely puzzling.
https://www.alt-m.org/ Not exact matches
England's early «goldsmith» banks are supposed to have held reserves equal to only a third of their demandable liabilities — a remarkably low figure, given the circumstances; at the other extreme, Scottish banks at the height of that nation's pre-1845 «free banking» episode often managed quite well with gold or silver reserves equal to between one and two percent of their outstanding notes and demand deposits.
It was Hayek, after all, who supervised, and signed off on, Vera Smith's 1935 doctoral dissertation on «The Rationale of Central Banking» (subsequently published by P.S. King & Son, and reprinted by LibertyPress) in which she discusses both the Canadian and the Scottish episode s, as well as some other free banking episodes, in unmistakably favorableBanking» (subsequently published by P.S. King & Son, and reprinted by LibertyPress) in which she discusses both the Canadian and the Scottish episode s, as well as some other free banking episodes, in unmistakably favorablebanking episodes, in unmistakably favorable terms.