The Swiss Banking Law

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Excerpt from The Swiss Banking Law: Study and Criticism of the Swiss Legislation Respecting Banks of Issue, and Especially of the Federal Act of October 6, Concerning the Swiss National Bank The recognition of the superiority of the central bank system does not in any way involve an answer to the question whether the bank-note monopoly should be exercised by the State itself, or whether it should be transferred to a private bank. The great examples given us by foreign countries pointed to a central bank of issue working with private capital, but a state bank appeared to be more suited to the spirit of modern Swiss economic policy, and the demand that an economic function which had been raised to a public monopoly should no longer be allowed to remain in the hands of private capitalists found as many supporters on the one side as it had antagonists on the other. The many years' struggle between these two tendencies reflects in an interesting manner a phase of the social history of our time. A third element which enhances the interest of the Swiss bank-note question is its significance from the standpoint of currency policy. It is generally known that Switzerland has recognized for a long time and in a steadily increasing measure the disadvantage of its membership in the Latin coinage union. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.