Before that the United States went through repeated banking crises when people would start demanding the gold for their notes.

才有了中央银行，在这之前,当人们向银行索要金子来兑现他们的纸币时,美国经历了一次又一次的重蹈覆辙的银行业危机。

耶鲁公开课 - 金融市场课程节选

They didn't succeed; we still had banking crises so the system didn't seem to work very well.

它们没有取得成功；,我们仍然存在银行业危机,所以这个系统似乎运行得不怎么好。

耶鲁公开课 - 金融市场课程节选

Moreover they can also borrow from the Federal Reserve Banks when they're in trouble and need money and that's supposed to help prevent banking crises.

更多的是，当它们陷入困境,需要钱时可以,从联邦储备银行那里借钱,这样可以帮助阻止银行业危机的产生。

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