What Is a Fractional Reserve System?

Free banking is something that historically we have pretty good examples of because governments kind of control banking institutions. And here's what I think a fractional reserve system could also look like and to caveat, there's a way that that ultimately exists. If it's like you imagine a situation where they say unregulated banks are allowed to issue as much. Now expanding the money supply, you don't just have one to one backing for every paper receipt that you issue.