GIPE-PUNE-OIIOI2 - DSpace@GIPE

The Re-piaking of the Reicbsbank and
the Banque de France
(A study in Note-Legislation in the perspective of the Bank of England)-
Note-Banking
It is perhaps sin~e the establishment of the "federal
reserve system" in the United States (1913) that
the term •• reserve bank •• has become somewhat popular
in economic thinking and business parlance. "Central
banking." as a more or less universal expression, is a more
recent category. having risen into limelight as an item
in the .ideology of post~war economicS'. Centralization.
or unification of reserves and control of credit. belong to
the same complex of present-day theory and practice as
the control of fluctuations' and crisis. stabilization. etc.
The term •• state bank" is very often loosely employed
to indicate institutions such as it has been the recent vogue
to describe as reserve or central.
But it is interesting to observe that none of the older
banks of this type. especially of England (1694). France
(1800). Germany (1875). Japan (1882) and Italy (1893)
, d I. ., II
are name reserve, centra I" or " state. " Th ey are
simply named after the countries to which they ~Iong.
• The American federal reserv,e systemfolms the subject-rnatter of
a special chapter. (See inira).