Did Banks wanted to limit the amount of money in circulation during the late 1800?

Yes, banks in the late 1800s often sought to limit the amount of money in circulation to maintain stability and control over inflation. By restricting the money supply, banks aimed to protect their assets and ensure that loans remained profitable. This approach was influenced by the gold standard, which tied currency value to gold reserves, further constraining the money supply. Consequently, these practices contributed to economic fluctuations and financial panics during that era.