Mutual Banking: Showing the Radical Deficiency of the Present Circulating Medium and the Advantages of a Free Currency (Classic Reprint) - Softcover
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Excerpt from Mutual Banking: Showing the Radical Deficiency of the Present Circulating Medium and the Advantages of a Free Currency
The long-standing feud between the hard-money advocates and the fiatists has been possible only because each has persisted in looking at only one side of the shield. The former demand a safe currency; the latter desire the benefits of paper money, and each party ignores the other's arguments. This feud the author brings to an end, by proposing a paper currency secured by real property, thus combining the safety of coin with the advantages of paper, and eliminating the evils of both. Whenever a theory of financial reform is broached that involves the issue of paper money, the failures of paper money experiments in the past are brought up as a warning. But the experiments that failed after a fair trial were characterized by one or more of three features which almost inevitably bring disaster, and which mutual banking excludes.
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Mutual Banking (Classic Reprint)
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Paperback. Zustand: New. Print on Demand. This book argues that interest payments should be abolished, aligning with the views of several great thinkers like Aristotle and Proudhon. The author explains that interest is not a necessary part of lending, but rather a premium paid to banks for insuring credit. This is unfair, as banks have a monopoly on the exchange of credit, and can therefore charge exorbitant fees. The author believes this monopoly can be broken by allowing free competition in banking and by creating new institutions that can provide credit at cost. The book also tackles the contentious issue of paper currency, and argues that it can be made safe and practical by backing it with real property. Overall, the book offers a comprehensive critique of the current financial system, and proposes radical changes that could create a fairer and more just economy. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781334469848_0
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Mutual Banking Showing the Radical Deficiency of the Present Circulating Medium and the Advantages of a Free Currency Classic Reprint
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Mutual Banking Showing the Radical Deficiency of the Present Circulating Medium and the Advantages of a Free Currency Classic Reprint
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