In this provocative work, economist George Guthrie argues that the monopoly held by banks over the issuance of credit is the root cause of recurring commercial crises. Drawing on case studies from throughout history, Guthrie shows how this monopoly has caused inflation, instability, and social unrest. With its sharp critiques of the banking system and visionary proposals for reform, this book is a must-read for anyone interested in economics and finance. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.