Thank you! I had not heard of the Chicago Plan.

These memoranda generated much interest and discussion among lawmakers but the suggested reforms, such as the abolition of the fractional reserve system and imposition of 100% reserves on demand deposits, were set aside and replaced by watered down alternative measures.
Check out Demand Deposit.


Demand deposits, bank money or scriptural money[1] are funds held in demand deposit accounts in commercial banks.[2] These account balances are usually considered money and form the greater part of the narrowly defined money supply of a country.

This is what we have discussed around here as special deposit. This is US Notes in the form of Federal Reserve Notes.