In the Scottish free banking system until 1845, total losses suffered by banknote holders were miniscule compared to the losses borne mostly by taxpayers from bank failures in modern central-banking times.
factualpending
Speaker
George SelginEvidence Quote
“the total losses suffered by holders of Scottish banknotes... we're really quite miniscule compared to losses that have been borne mostly by taxpayers as a result of bank failures in modern times”
Created: 6/15/2026, 9:20:23 AM
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