A New Banking System by Lysander Spooner

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Author Spooner, Lysander, 1808-1887
LoC No. 06033344
Title A New Banking System
The Needful Capital for Rebuilding the Burnt District
Note Reading ease score: 52.7 (10th to 12th grade). Somewhat difficult to read.
Credits Produced by Curtis Weyant and the Online Distributed
Proofreading Team at https: //www.pgdp.net (This file was
produced from images generously made available by The
Internet Archive)
Summary "A New Banking System" by Lysander Spooner is a economic treatise written in the early 1870s. The book outlines Spooner's proposal for a banking system that utilizes the vast amounts of real estate and infrastructure available in Massachusetts and by extension the United States to create a new form of currency. The likely topic centers around banking reform and the promotion of a paper currency that is backed by productive assets rather than gold or silver. In this work, Spooner critiques the existing banking system, mainly the "National" banks, arguing that it is monopolistic and detrimental to the economic well-being of the broader population. He outlines an alternative system that uses mortgages and railroads as banking capital, leading to the creation of a more accessible and abundant currency. This new system promises not only to provide sufficient credit and liquidity to individuals and businesses alike but also to ensure stability without inflating prices. By emphasizing the connection between currency, credit, and economic productivity, Spooner seeks to enable a more equitable financial environment that empowers both workers and entrepreneurs. (This is an automatically generated summary.)
Language English
LoC Class HG: Social sciences: Finance
Subject Paper money
Subject Banks and banking -- United States
Category Text
EBook-No. 34187
Release Date
Most Recently Updated Jan 7, 2021
Copyright Status Public domain in the USA.
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