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"Suffolk Banking System against the Crisis of 1837 - 39 --the Spontaneous Development of "Lender of Last resort" by a commercial bank--" (in Japanese)

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  • Takuma Omori

    (Faculty of Economics, University of Tokyo)

Abstract

In this paper, it is discussed about the point how the Suffolk Banking System could defend against the instability of financial order in New England extending 1837 ]39 Crisis. And is discussed about the point, that is, performing the System, the Suffolk Bank regionally and spontaneously tried to perform the role of quasi-Central Banking, especially the function of "Moral Persuasion" and " lender of last resort", backing for the confidence by state-governmental authorities. "Spontaneousness" in the System is so unique because it is presented the historical evidence both support and criticism in Free Banking Theory. In this analysis, it is proved "Spontaneousness" is not the supporting evidence but the criticizing evidence in F.B.T. as the regional Central Banking making trial movement against the instability of financial order.

Suggested Citation

  • Takuma Omori, 2002. ""Suffolk Banking System against the Crisis of 1837 - 39 --the Spontaneous Development of "Lender of Last resort" by a commercial bank--" (in Japanese)," CIRJE J-Series CIRJE-J-79, CIRJE, Faculty of Economics, University of Tokyo.
  • Handle: RePEc:tky:jseres:2002cj79
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    File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2002/2002cj79.pdf
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    Cited by:

    1. Haider Ali Khan, 2002. "Managing Global Risks and Creating Prosperity: the Role of the IMF and Regional Financial Architectures," CIRJE F-Series CIRJE-F-166, CIRJE, Faculty of Economics, University of Tokyo.
    2. Khan, Haider, 2013. "Basel III, BIS and Global Financial Governance," MPRA Paper 49513, University Library of Munich, Germany.
    3. Haider Ali Khan, 2003. "General Conclusions: From Crisis to A Global Political Economy of Freedom," CIRJE F-Series CIRJE-F-192, CIRJE, Faculty of Economics, University of Tokyo.
    4. Haider Ali Khan, 2002. "The Extended Panda's Thumb and a New Global Financial Architecture," CIRJE F-Series CIRJE-F-163, CIRJE, Faculty of Economics, University of Tokyo.
    5. Khan, Haider, 2013. "Deep Financial Crises, Reforming the IMF and Building Regional Autonomy:Towards a New Hybrid Global Financial Architecture," MPRA Paper 49514, University Library of Munich, Germany.

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