... 193] The Mystery of Banking Murray N. Rothbard116Chapter XIIICentral Banking in the United States I: The Origins1. The Bank of North America and The First Bank of the United States The first ... out of the picture, having contributed $800 to the expansion of the money supply, just as Bank A is out of the picture, having received the initial impact of $1,000 of new reserveson the banking ... virtually all of their reserves at the Bank of England,demanding cash, or gold, from the Bank as necessary.2. Free Banking in Scotland After the founding of the Bank of England, English banking, ...