[Anonymous]

Was the original National Bank, a bank based on credit and helping the citizens a better idea than the Central Bank?

[jmherbener]

The First Bank of the United States was an instrument of monetary inflation and credit expansion. It was a proto-central bank and therefore, not a different idea but a less extreme version of the same idea.

Here is Murray Rothbard’s assessment from his book, A History of Money and Banking in the United States:

https://mises.org/library/8-first-bank-united-states-1791-1811

Here’s more information on the FBUS:

http://wiki.mises.org/wiki/First_Bank_of_the_United_States

[Author]

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