FROM THE THEORY OF MONEY TO THE THEORY AND PRACTICE OF BANKING
The article is devoted to the analysis of the structure and capabilities of the Central banking system with partial reservation of deposits in the context of the theory and history of money. The grounds for clearly delineating the demand for money as a means of accumulation and the demand for money as a means of payment for production resources and other capital assets are revealed. It is shown that the theory of liquidity preference J.M. Keynes, as it is formulated in the 17th Chapter of the “General theory of employment, interest and money” and the theory of economic development. Schumpeter, provide basic guidance for the search for such grounds and, accordingly, identify the potential of the Central Bank to provide through a differentiated interest rate policy unconditional preservation of the value of monetary assets, without prejudice to production and employment.