International Monetary Fund (IMF) Working Paper No. 12/202
"At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits."
Did you know, that banks have not always functioned as they function today? Initially the monetary and credit functions were seperated, yes they were! The full working paper, from where the above excerpt is taken, can be found at:
http://www.imf.org/external/pubs/cat/longres.aspx?sk=26178.0
