'Bank Money': The Rise, Fall and Metamorphosis of the 'Transferable Deposit'
Bibliographic record
Abstract
This chapter presents the doctrines that support the notion of ‘transferable deposit’ as the historical explanation to ‘bank money’. It discusses the medieval practice of bailment of money as the ancestor of the bank deposit, and the emergence of the modern legal doctrine of the bank deposit from the medieval bailment of money. As a legal concept, the bailment of money denotes the delivery of money for a particular, or in effect, any given purpose. Where the purpose was not carried out, inasmuch as the bailee was not obligated to keep the specific coins separately, he was not liable to the bailor for the money in detinue. The chapter connects this notion to the modern monetary system where both ‘central-bank money’ and ‘commercial-bank money’ are in the form of credit to a bank account and the extinguishment of one debt, and the creation of another, facilitate a legal basis for the ‘transferable deposit’ and its use as ‘bank money’.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".