Mises Daily
Author:
Ludwig von Mises
Online Publish Date:
[This article is excerpted from chapter 17 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach .] Observations on the Discussions Concerning Free Banking The Banking School taught that an overissuance of banknotes is impossible if the bank limits its business to the granting of short-term loans. When the loan is paid back at