British Banking School
Encyclopedia
The British Banking School was a major part of British history. They were created to oppose the British Currency School
; they argued that currency issue could be naturally restricted by the desire of bank depositors to redeem their notes for gold.
British Currency School
The British Currency School was a group of British economists, active in the 1840s and 1850s, who argued that the excessive issuing of banknotes was a major cause of price inflation, and believed that, in order to restrict circulation, issuers of new banknotes should be required to hold an...
; they argued that currency issue could be naturally restricted by the desire of bank depositors to redeem their notes for gold.