British Currency School: Difference between revisions

As with most debates, there is always an opposing argument. The Currency School was opposed by members of the [[British Banking School]], who argued that currency issue could be naturally restricted by the desire of bank depositors to redeem their notes for gold. In the years following, the Banking Act was suspended three times, favoring the Banking School, but nonetheless the Currency School prevailed and convertibility was mostly maintained until World War I.<ref>{{Cite web|url=http://www.newschool.edu/nssr/het/schools/bullion.htm|title=The Balloonist Controversy|last=Fonseca|first=Gonçalo|date=|website=|publisher=The New School|access-date=April 18, 2016|deadurlurl-status=yesdead|archiveurl=https://web.archive.org/web/20160511045420/http://www.newschool.edu/nssr/het/schools/bullion.htm|archivedate=May 11, 2016|df=}}</ref>