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Private money creation and the Suffolk Banking System

Bruce Smith and Warren Weber

No 9821, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: Recent legislation has removed U.S. legal impediments to issuing private bank notes. At the same time, improved transaction technologies have enabled banks and other entities to issue various forms of \\"e-cash.\\" Consequently, developed economies may soon see the reemergence of privately issued substitutes for currency. The authors examine the potential economic consequences using the Bank of Suffolk as a model.

Keywords: Suffolk Banking System; Money (search for similar items in EconPapers)
Date: 1998, Revised 1998
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Related works:
Journal Article: Private money creation and the Suffolk Banking System (1999)
Journal Article: Private Money Creation and the Suffolk Banking System (1999)
Working Paper: Private money creation and the Suffolk Banking System (1998) Downloads
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