Free banking in Scotland: A dissenting view

Sechrest, Larry J.
January 1991
CATO Journal;Winter91, Vol. 10 Issue 3, p799
Academic Journal
Discusses some of the reasons for the skepticism on Lawrence H. White's work on Scottish free banking of the period 1765 to 1845. High bank failure rates; Note invertibility; Restrictions on small-denomination notes; Usury Law as a constraint on competition; Privileges of the chartered banks.


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