Why did industrialists favor the national bank?
1 Answer
Jul 2, 2017
It was beneficial to their interests
Explanation:
A national bank meant that the government could go into debt and its intervention and spending could be beneficial to private economic actors, which included industrialists. For instance this system was particularly useful in times of war since new money could be issued, creating inflation and industrialists could profit from the war effort by contributing to it. The money issued by the national banks would end up in their pockets and common people would be fleeced out by inflation.
