Printing credit is equally damaging in terms of prices as it is to print cash

Taxes aren't legitimate, but since we have taxes and a fiat currency it is not right (fair and equitable) that some organisations are allowed to increase the money supply, to the exclusion of others. Printing money by banks is not a violation of property rights because it is not aggressive but it is not fair, equitable that they have this exclusive (legal) privilege.

People are not (very) concerned about bank inflation unless they are printing bank notes in a fashion identical to a typical counterfeiter. They think banknotes (legal tender) are the only form of 'real' money.

There is no reason to care about the relative quantities of narrow money to broad, all that matters (and all that affects prices) is the sum of bank deposits plus the small sum of money (cash) outside the banking system. It is no worse, in economic terms, for a bank or institution to print cash than it is for them to issue credit, if they have a deposit guarantee; it is no less bad to print credit, printing credit is equally damaging.