Money, Bank Credit, and Economic Cycles - The Ludwig von Mises ...

858 Money, Bank Credit, and Economic CyclesBank of Barcelona, 114See also Taula de Canvi, 63Bank of England, 107–09its suspension of the Peel Actduring crises, 485Bank of Spain, 132Bank of Stockholm, 106–07endowment of a Nobel Prizein Economics, 107nBank crises, and the superiorityof the proposed system incounteracting them, 745–46Bank failuresBangkok Bank of Commerce(Thailand), 498nBank Korea First (Korea),498nCrédit Mobiliaire (France),485Hokkaido Takushoku(Japan), 498nJay Cook and Co. (UnitedStates), 486Peregrine Bank (HongKong), 498nSee also Sanyo Securities;Yamaichi SecuritiesBankas financial intermediary,168, 174–177Callisto’s, 54–55isolated, and the capacity forcredit expansion anddeposit creation, 200–08mergers, 203–04n, 467–68monopolistic, the capacityfor expansion, 211–17multiplier (case of isolation),202, 215simultaneous expansion bymany, 231–38system of small, capacity forcredit expansion equal tothat of a single, monopolisticbank, 223–31very small (or Lilliputian),208–11Bankersin late Middle Ages, 59–77Jewish, 56n, 64liability of, 33n, 56npower of, 43, 44nprivileges of, 50, 63, 77secrecy of, 69nTemplars, as medieval, 59Bankingassets, how they decline inthe crisis, 389–90deregulation of, 740–41Hellenestic, 51–53in Assyria, 40nin Babylon, 40nin Chile, 703–05in eighteenth century France,109–11in eighteenth and nineteenthcentury Scotland, 702–03in Greece, 41–51Jesus and, 56nlegislation, failure of, 671–75Medicis and the businesscycle, 72–75, 482mutual fund, 743–44, 597–98prudence in, 148–52, 608Ptolemies and, 51–53services, 168sin in banking, 86–88uncertainty and risk in, 289n,385–95See also Fractional-reservebanking; Fractional-reservefree banking; Free banking;Rome; School of Salamanca;Seville; Tragedy of the commons