Article: Recasting the rules and regulations; what is it that regulators need to regulate? (A Survey of International Banking: A Question of Definition)

TO RESTRAIN private people, it may be said, from receiving in payment the promissory notes of a banker, for any sum whether great or small, when they themselves are willing to receive them, or to restrain a banker from issuing such notes, when all his neighbors are willing to accept of them, is a manifest violation of that natural liberty which it is the proper business of law not to infringe, but to support. Such regulations may, no doubt, be considered as in some respect a violation of natural liberty. But those exertions of the natural liberty of a few individuals, which might en, danger the security of the whole society, are, and ought to be, restrained by the laws of ...

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