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It's seems you know a lot more history than I do :) In all seriousness though - is there somewhere you can point to which shows the debate around a central ban
by danielmarkbruce 5y ago
It's seems you know a lot more history than I do :)
In all seriousness though - is there somewhere you can point to which shows the debate around a central bank that suggests they wanted the central bank to: clear interbank payments, set short term rates between banks (and themselves), act as a lender of last resort, regulate and supervise other banks? I've never seen anything that suggested anyone wanted to do any of those five things. I've only seen the arguments for functions which one would consider a national bank.
- danielmarkbruce 5y agoHere are a couple docs I dug up, I'll read them later: https://founders.archives.gov/documents/Hamilton/01-07-02-0229-0003 https://founders.archives.gov/documents/Hamilton/01-07-02-02... https://www.philadelphiafed.org/-/media/frbp/assets/institutional/education/publications/the-first-bank-of-the-united-states.pdf https://www.philadelphiafed.org/-/media/frbp/assets/institut...