We can infer that the melting edict itself indicates overissue
of money because coins would come to be melted only if their value was declining relative to melted copper.
The gold standard has much to commend it: it imposes a discipline against the overissue
of currency, restrains monetary meddlers, and has a fairly good track record.
We can see in Place's argumentation the same needs of trade doctrine propped by the banking school, according to which the extent of credit that the banking system can expand is limited by the trade level, with any overissue
being limited through reflux.
Moreover, the law diminished "the capacity of the public for differentiating notes," which created a common-pool problem, weakening the effectiveness of the clearing system against overissue
Joseph Salerno (2003) argues that concerns about deflation are primarily due to legal restrictions on labor markets, while George Selgin (2001) creates a "principle of adverse clearings" to explain why private banks would be unable to overissue
currency in a free-banking environment.
Outcome of President Suleiman's consultations show factions still deeply split overissue
of false witnesses; meetings continue, could last until weekend.
In my opinion, it would be very problematic if the government started to overissue
government bonds for the annual budget,'' Fujii said, adding that the government must keep the new issuance under the record 44 trillion yen planned for fiscal 2009 by the former government led by the Liberal Democratic Party.
But Christiernin always attributed the prior price rise solely to overissue
of paper, whereas Thornton recognized that real shocks also could be a cause.
At the same time, with the newspaper industry still struggling, the supply of overissue
news has declined.
For banks chartered after a war the context was usually very high inflation generated by governments' overissue
of paper currency to meet wartime expenditures.
The New York Clearing House Association protested to Sherman that the new rule amounted "to a penalty for forwarding National bank notes for redemption, [impeding] the practical operation of the law" of 1874 and renewing the interior banks' incentives to overissue