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Lessons from the American Experience with Free Banking / Hugh Rockoff.
- Format:
- Book
- Author/Creator:
- Rockoff, Hugh.
- Series:
- Historical Working Paper Series (National Bureau of Economic Research) no. h0009.
- NBER historical working paper series no. h0009
- Language:
- English
- Subjects (All):
- Money supply--United States.
- Money supply.
- Banks and banking.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1989.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1989.
- Summary:
- There has been considerable interest in recent years in historical experiments with "free banking." This paper examines once again the American experiments in the decades before the Civil War, and the recent literature on them. The lessons of this experience for four issues are considered: (1) the appropriate mechanism for controlling the monetary base, (2) the need for a lender of last resort, (3) the costs and benefits of a bank issued currency, and (4) the potential under a regime of free banking for wildcat banking.
- Notes:
- Print version record
- December 1989.
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