The Rationale of Central Banking and the Free Banking Alternative

Smith, Vera C.
(1912-1976)
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Card Catalog Information
First Pub. Date
1936
Publisher
Indianapolis, IN: Liberty Fund, Inc.
LibertyPress
Pub. Date
1990
Comments
Copyright
The text of this edition is under copyright.
About this Book

Vera Smith's The Rationale of Central Banking invites us to reassess our monetary institutions and give reform proposals due consideration. The decades since it first appeared in 1936 have restored its themes to relevance. Government-dominated monetary systems have continued to perform poorly. Other experience, as well as the work of James Buchanan and the Public Choice School, has heightened skepticism about government generally. People are now willing to discuss what Vera Smith set out to examine: "the relative merits of a centralized monopolistic banking system and a system of competitive banks all possessing equal rights to trade" (p. 3).... [From the Preface, by Leland B. Yeager]