Excerpt from On the Influence of a Note Circulation in the Conduct of Banking Business Apart from the question of the right of the State to be the sole issuer of bank notes, into which we will enter further on, it will be clear that a considerable part of the usefulness of the cir culation rests on the fact, whether such an issue when made by several banks may not be of greater advantage on the whole to the trade of a country than if it is in the hands of the State alone whether it may not be the case that a note circulation made through the intervention of a great many banks in different parts of the country, may not promote the prosperity of that country to a greater degree than a similar amount of note circulation would do if in the hands of the Government itself, or of one bank alone privileged to issue, and connected with the State by close ties of privilege and mutual assistance. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.