who were also issuing notes would leave their would keep a deposit with the Bank of England.

同时也在发行纸币的银行,要向英格兰银行付保证金。

耶鲁公开课 - 金融市场课程节选

It did not have a government monopoly on note issue but over the time it became the prime issuer of U.K. notes.

在纸币发行上，它并没有政府垄断者的角色,但是随着时间的流逝,它成为了英国纸币的主要发行者。

耶鲁公开课 - 金融市场课程节选

Because the Bank of England could then demand all the it could start accumulating notes from some issuing bank and then demand payment in gold.

因为英格兰银行那时可以,要求所有的，它可以开始从一些纸币发行银行,收集些发行的纸币之后再要求以金子的形式偿还。

耶鲁公开课 - 金融市场课程节选

You have lots of banks; the banks are taking in gold and issuing notes but they are forced by the Bank of England to keep a deposit at the Bank of England.

英国有很多家银行；,它们吸入金子并且发行纸币,但是它们都被英格兰银行强迫,在英格兰银行付保证金。

耶鲁公开课 - 金融市场课程节选

The problem with private banks issuing notes is that there would periodically be banking crises when the banks failed to pay on their notes and they couldn't pay out the gold that was demanded--that was required.

私有银行发行纸币的问题在于,当它们没法用要求的金子-规定的金子数量,支付它们发行的纸币时,它们将周期性的,陷入银行业危机。

耶鲁公开课 - 金融市场课程节选

The issuing bank would be driven out of business if it didn't. They all were using fractional reserve banking so if you have a big player that's demanding gold from you you're in trouble.

发行纸币的银行将会被驱逐出银行业,如果它不这么做，它们都采取,部分准备金银行制度，所以如果你有一个对手,一直向你索求金子，你会陷入大麻烦的。

耶鲁公开课 - 金融市场课程节选