Bookcover of Bank Charter Act 1844
Booktitle:

Bank Charter Act 1844

Parliament of the United Kingdom, Robert Peel, Bank of England

Equ Press (2011-12-02 )

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ISBN-13:

978-613-9-97862-5

ISBN-10:
6139978629
EAN:
9786139978625
Book language:
English
Blurb/Shorttext:
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Bank Charter Act 1844 was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which restricted the powers of British banks and gave exclusive note-issuing powers to the central Bank of England. Until the mid-nineteenth century, commercial banks in Britain and Ireland were able to issue their own banknotes, and notes issued by provincial banking companies were commonly in circulation. Under the Act, no bank other than the Bank of England could issue new banknotes, and issuing banks would have to withdraw their existing notes in the event of their being the subject of a takeover. At the same time, the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt. The Act served to restrict the supply of new notes reaching circulation, and gave the Bank of England an effective monopoly on the printing of new notes.
Publishing house:
Equ Press
Website:
http://www.alphascript-publishing.com
Edited by:
Wade Anastasia Jere
Number of pages:
136
Published on:
2011-12-02
Stock:
Available
Category:
Money, Bank, Stock exchange
Price:
45.00 €
Keywords:
Parliament, Act, Britain, Bank, government, Commercial, parliament, ACTFL, Government, commercials

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