This book is a critique of the bank Acts of 1844-5, which established a system of centralized control over the banking system in England. Somers argues that these Acts were flawed and contributed to the financial crisis that occurred in the late 1840s. He critiques the economic theories that underpinned these Acts and challenges the assumptions that led to their implementation. Somers believes that a more flexible and decentralized banking system would be more effective and resilient. 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.