> with a 20-year charter. ...which expired. And then we had the greatest boom in global history. I'm aware of the intermittent nature of the banks (as well a

> with a 20-year charter. ...which expired. And then we had the greatest boom in global history. I'm aware of the intermittent nature of the banks (as well as all the central banks that failed under the Articles of Confederation). The point is we had a situation where the money supply was basically fixed under a very imperfect gold standard. People say "deflation is bad", but can't explain basically a century under the most amazing economic growth of history.