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Wednesday, August 29, 2012

Smith on Canadian Currency and Banking Laws 1871

In the vol. 13 (3) September 2012 issue of Enterprise & Society, an article by Andrew Smith of Coventry University, "Continental Divide: The Canadian Banking and Currency Laws of 1871 in the Mirror of the United States." Professor Smith's blog on economic and business history, The Past Speaks is highly recommended (by me!)

Here's the abstract:
The essay discusses the ways in which an 1871 banking and currency law helped Canada form a stable banking industry, and compares this industry with that of the U.S. The laws' implementation of Canadian transcontinental branch banking and importance to Canadian state formation are outlined. The effects of Canada's Britain-inspired political culture on the formation of this banking system are also detailed. Other topics discussed include monetary policy, usury laws, and legislative debates.

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