The working of the asset currency provided by the Swedish note banking system in 1878-1901 is described. Natural and institutional conditions caused the demand for currency to peak in March and September, with troughs in July and January. The paper investigates how the Enskilda banks provided...

The free-banking history of Switzerland is commonly subdivided into a period with unfettered competition (1826 - 1881) and strong banknote regulation (1881 - 1907). This paper suggests that unrestricted competition between private note-issuing banks gave rise to a fragmented paper-money system,...

The free-banking history of Switzerland is subdivided into periods with unfettered competition (1826-1881), and strict banknote regulation (1881-1907). This paper suggests that the Federal Banknote Act of 1881 was introduced to remedy the fragmentation of the unfettered-competition period,...

The free-banking history of Switzerland is subdivided into periods with unfettered competition (1826–1881), and strict banknote regulation (1881–1907). This paper suggests that the Federal Banknote Act of 1881 was introduced to remedy the fragmentation of the unfettered-competition period,...

This paper empirically examines the historical allegation of fraudulent behavior of bank management by scrutinizing the balance sheet of individual bank and finds none of the Illinois free banks was without specie reserve. Applying econometric tools to balance sheet items, this paper identifies...

We exploit the introduction of free banking laws in US states during the 1837-1863 period to examine the impact of removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic stability in this period, we are able to isolate the...

This paper empirically examines the historical allegation of fraudulent behavior of bank management by scrutinizing the balance sheet of individual bank and finds none of the Illinois free banks was without specie reserve. Applying econometric tools to balance sheet items, this paper identifies...