Bindsell on Some Pre-1800 French and German Central Bank Charters and Regulations

Ulrich Bindseil, European Central Bank, has published Some Pre-1800 French and German Central Bank Charters and Regulations. Here is the abstract.

In some recent studies, the question of the origins of central banking has been revisited, leading to the conclusion that beyond Swedish and British central banking, also a number of earlier European continental central banks would have played a more important role. However, it has been often difficult to access the charters and regulations of these early continental central banks – in particular in English – with Dunbar (1892) being the exception. This note contributes to close this gap in a limited sense by providing some translations of few charters and regulations of pre-1800 central banks from France and Germany, namely of the Hamburger Bank of 1619, the Leipziger Bank of 1698, the Banque Générale of John Law of 1716, the Prussian Royal Bank of 1766, and the Caisse d’Escompte of 1776. These early central banks were of heterogeneous success and duration, and actually some only partially or only temporarily deserved to be called a central bank. Moreover, they did not necessarily apply precisely their charters and regulations. Still, the texts provide important insights into the objectives and design of early continental central banks. This note does provide neither an interpretation, nor discussion, nor comparative review of the charters and regulations covered. However, it provides schematic introductions to each of the early central banks.

The full text is not available from SSRN.

Alternative Forms of Currency and FInancial Crises In England in Late Eighteenth and Early Nineteenth Rural England

Iain Frame, University of Kent, Canterbury, Kent Law School, has published ‘Country Rag Merchants’ and English Local Currencies in the Late Eighteenth and Early Nineteenth Century at 42 Journal of Law and Society 588 (2015). Here is the abstract.

In the late eighteenth and early nineteenth century, communities across England used country bankers’ notes almost as much as they used coins and Bank of England notes. Accounting for the relative success of these alternative currencies is challenging, however, due to the frequency of financial crisis during the period. If, during a crisis, all note holders attempted to enforce the promise to pay in gold coin against the issuing banker, the ‘law‐finance paradox’ would leave some note holders with gold coin, but would leave many more with merely ‘country rags’ or worthless pieces of paper. Building on both the credit approach to money and the relational approach to contract, this article shows note‐using communities successfully responding to financial crisis. They frequently did so by formalizing the bonds of reciprocity and trust tying the community to its note‐issuing banker – bonds sometimes made all the stronger by legal enforceability.

The full text is not available from SSRN.

Daytime TV Judges

Taunya Lovell Banks, University of Maryland School of Law, has published "Judging the Judges - Daytime Television's Integrated Reality Court Bench," in Lawyers in Your Living Room, edited by Michael Asimow, (ABA Books, 2008). Here is the abstract.

This essay looks at the integrated courtroom on daytime reality television court shows like "Judge Judy", the reasons for the persistent over representation of women and non-white male judges on these shows, why some shows are more popular than other shows, and how these shows may influence the real American legal system.

Keywords: daytime television court judges

Download the paper from SSRN here.