The literature on free banking has sharply altered its focus in the last two decades. While the alleged failures of free banking have been closely analyzed and shown to have been greatly exaggerated, the link to fractional-reserve banking has been missed in the literature so far.
Portfolio Management of the Free Banks of Illinois: An Examination of Historical Allegations
![The Review of Austrian Economics](https://cdn.mises.org/styles/responsive_4_3_650w/s3/static-page/img/Review%20of%20Austrian%20Economics_20141002.jpg.webp?itok=a6Eoc_Lw 650w,https://cdn.mises.org/styles/responsive_4_3_870w/s3/static-page/img/Review%20of%20Austrian%20Economics_20141002.jpg.webp?itok=7kFmefHW 870w,https://cdn.mises.org/styles/responsive_4_3_1090w/s3/static-page/img/Review%20of%20Austrian%20Economics_20141002.jpg.webp?itok=SpTrUqip 1090w,https://cdn.mises.org/styles/responsive_4_3_1310w/s3/static-page/img/Review%20of%20Austrian%20Economics_20141002.jpg.webp?itok=RUsAwBff 1310w,https://cdn.mises.org/styles/responsive_4_3_1530w/s3/static-page/img/Review%20of%20Austrian%20Economics_20141002.jpg.webp?itok=HttIwXLp 1530w)
CITE THIS ARTICLE
Rashid, Salim. “Portfolio Management of the Free Banks of Illinois: An Examination of Historical Allegations.” Review of Austrian Economics 9, No. 1 (1996): 55–76.