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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Bank Restriction Act

scottish free banking, bank of england, Bank Restriction Act, specie, free banking
Economic History, Free Banking, Recommended Reading

Scottish Banks and the Bank Restriction, 1797-1821, Part 3

George Selgin/November 13, 2018June 19, 2022

Having considered, in two previous essays, the origins, legality, and adverse consequences of the Scottish bank suspension, we're now ready to ask whether, and in what ways, that episode compels us to reconsider the virtues of free banking, both as practiced in Scotland and in general. If…

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free banking, Scottish free banking, banking regulation, Bank of England
Banking Regulation, Economic History, Free Banking

Scottish Banks and the Bank Restriction, 1797-1821, Part 1

George Selgin/October 9, 2018June 19, 2022

From the beginning, there is one embarrassing and evident fact that Professor White has to cope with: that "free" Scottish banks suspended specie payment when England did, in 1797, and, like England, maintained that suspension until 1821. Free banks are not supposed to be able to, or…

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Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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