Marx begins the 1857-58 manuscript proper (writing in October 1857) by jumping straight in to a critique of the politician and journalist, and follower of Proudhon, Alfred Darimon (1819-1902). Darimon had argued that in monetary crises the drain of bullion from the banking system reduced the supply of available money (and hence credit), making the crisis worse. To counter this, Darimon had proposed a reformed monetary system based on joint-stock banking backed by system of credit-insurance, rather than having bank money backed by gold and silver.

More (pdf, 269 KB): The Chapter on Money Part 1: Alfred Darimon and Monetary Crises (pp. 115-136)