Currency School vs Banking School debate
E760757
The Currency School vs Banking School debate was a 19th-century British economic controversy over whether money supply should be strictly tied to gold reserves or could flexibly expand with the needs of trade and banking.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Currency School vs Banking School debate canonical | 1 |
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
19th-century British economic controversy
ⓘ
economic debate ⓘ |
| concerns |
whether money supply could flexibly expand with needs of trade and banking
ⓘ
whether money supply should be strictly tied to gold reserves ⓘ |
| hasContext |
British gold standard
NERFINISHED
ⓘ
expansion of joint-stock banking ⓘ financial crises in early 19th-century Britain ⓘ industrial revolution in Britain ⓘ |
| hasField |
banking theory
ⓘ
macroeconomics ⓘ monetary economics ⓘ |
| hasInfluenceOn |
credit theory of money
ⓘ
debates on rules versus discretion in monetary policy ⓘ development of lender of last resort theory ⓘ later central banking doctrine ⓘ modern discussions of monetary base control ⓘ quantity theory of money discussions ⓘ theory of endogenous money ⓘ |
| hasKeyIssue |
control of money supply
ⓘ
convertibility of banknotes into gold ⓘ elasticity of money supply ⓘ regulation of banknote issuance ⓘ relationship between banknotes and gold reserves ⓘ role of central bank ⓘ |
| hasMainLocation | United Kingdom NERFINISHED ⓘ |
| hasOutcome | adoption of Currency School principles in Bank Charter Act 1844 ⓘ |
| hasRelatedConcept |
banknote issuance
ⓘ
central bank monopoly of note issue ⓘ convertibility ⓘ credit creation by banks ⓘ deposit banking ⓘ elastic currency ⓘ endogenous money supply ⓘ fiduciary issue ⓘ financial stability ⓘ gold standard ⓘ monetary constitution ⓘ monetary regulation ⓘ note-issue banking ⓘ quantity theory of money ⓘ real bills doctrine ⓘ specie reserves ⓘ |
| hasRelatedEvent |
financial crisis of 1825 in Britain
ⓘ
financial crisis of 1837 in Britain ⓘ financial crisis of 1847 in Britain ⓘ |
| hasSide |
Banking School
NERFINISHED
ⓘ
Currency School NERFINISHED ⓘ |
| hasTimePeriod | 19th century ⓘ |
| influenced | Bank Charter Act 1844 NERFINISHED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.