A New Banking System: The Needful Capital for Rebuilding the Burnt District

A New Banking System: The Needful Capital for Rebuilding the Burnt District is an economic treatise written by Lysander Spooner in the early 1870s. In this work, Spooner critiques the monopolistic nature of the existing banking system, particularly the National banks, and proposes a new banking model that utilizes real estate and infrastructure to create a currency backed by productive assets. His ideas advocate for a more equitable financial environment by ensuring credit and liquidity for individuals and businesses without inflating prices, emphasizing the relationship between currency, credit, and economic productivity.