Abstract
The article analyses the recent developments in Italian banking. The author emphasises the exceptional intensity and rapidity of the variations that have occurred, above all since the first quarter of 1946, in the expansion of both bank credits and bank deposits. Considering this experience within the framework of notions now generally accepted, he expresses the opinion that the expansion of bank money, favoured by an active credit policy, has contributed to accentuate in Italy the inflation due to the growth in the volume of note circulation. This period of easy money has been followed by one of financial stringency, calling attention to the need of securing a better coordination and smoother working of the credit control mechanism.
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