The quote below belongs to Adam Smith, the Scottish economist and enlightenment philosopher, considered by many "The Father of Economics".
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An operation of this kind has, within these five-and-twenty or thirty years, been performed in Scotland, by the erection of new banking companies in almost every considerable town, and even in some country villages. The effects of it have been precisely those above described. The business of the country is almost entirely carried on by means of the paper of those different banking companies, with which purchases and payments of all kinds are commonly made.
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But though the conduct of all those different companies has not been unexceptionable, and has accordingly required an act of parliament to regulate it, the country, notwithstanding, has evidently derived great benefit from their trade.
Versión en español
La siguiente cita pertenece a Adam Smith, el economista escocés y filósofo de la ilustración, considerado por muchos "El padre de la teoría económica".
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Una operación de esta clase se ha llevado a cabo, en estos veinticinco o treinta años, en Escocia, mediante la erección de nuevas compañías bancarias en casi todas las ciudades importantes, e incluso en algunas aldeas rurales. Los efectos de la misma han sido precisamente los anteriormente descritos. Los negocios del país se llevan a cabo casi en su totalidad por medio del papel de esas diferentes compañías bancarias, con las que comúnmente se hacen compras y pagos de todo tipo.
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Aunque la conducta de todas esas diferentes compañías no ha sido intachable y, en consecuencia, ha requerido una ley del parlamento para regularla, el país, a pesar de todo, evidentemente ha obtenido grandes beneficios de su comercio.
Figures / Figuras
Adam Smith. Etching created by Cadell and Davies (1811), John Horsburgh (1828) or R.C. Bell (1872). Public domain, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:AdamSmith.jpg. Accessed November 17, 2024.
Reference / Referencia
Adam Smith. An Inquiry into the Nature and Causes of the Wealth of Nations, 1776. Book II. Chapter II, of Money, Considered a Particular Branch of the General Stock of the society, or of the expense of maintaining the National Capital. Project Gutenberg eBook pg38194-images-3.epub. https://www.gutenberg.org/ebooks/38194. Accessed November 17, 2024.
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