Read complete books and articles on: Bank of England

Bank of England - central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London. The bank has eight branches, all of which are located in the British Isles. Although Bank of England notes are legal tender throughout the United Kingdom, banks in Scotland and Northern Ireland also issue notes that may be either used as currency themselves or exchanged for Bank of England issues. In all matters beside note issue, the Bank of England has sole central banking functions in Great Britain. The affairs of the bank are controlled by a governor, a deputy, and 16 directors.

It was founded (1694) as a commercial bank by William Paterson with a capital of £1.2 million, which was advanced to the government in return for banking privileges, including the right to issue notes up to the amount of its capital. In 1709 the capital was doubled; the charter was renewed in 1742, 1764, and 1781. The bank's facilities proved a great asset in English commercial, and later industrial, expansion. The bank's functions were both public and private; it safeguarded the English pound and also operated for private profit. Efficient regulation was assured by the Bank Charter Act of 1844, which laid the basis for the bank's modern structure. The issue department, which handles the issuing of bank notes for general circulation, was separated from the banking department, which handles the remaining banking functions, including the management of the public debt, and serves as the depository of government funds and as the staple bank of England. It was privately owned until 1946, when an act of Parliament provided for its nationalization. The stockholders were compensated, and the bank subsequently dropped virtually all its private business. In 1997 the bank was given the power to set interest rates, a function formerly performed by the cabinet; at the same time its oversight of the British banking industry was transferred to the Securities and Investments Board

See J. H. Clapham, The Bank of England: A History (2 vol., 1944; repr. 1966); J. Giuseppi, The Bank of England (1966).

Show Excerpt Only

15 of the Best Books and Articles on: Bank of England

as selected by Questia librarians

1.

The Bank of England, 1891-1944, Vol. 2 » Read Now
by R. S. Sayers. 294 pgs.

Collections: Entire Library

...THE BANK OF ENGLAND 1891-1944 Volume 2 THE BANK OF ENGLAND 1891-1944 R. S. SAYERS Volume...concentrated on the leading part taken by the Bank of England. The events of...
2.

English Public Finance from the Revolution of 1688: With Chapters on the Bank of England (1920) » Read Now
by Harvey E. Fisk. 244 pgs.

Collections: Entire Library

...Revolution of 1688 With Chapters on The Bank of England By HARVEY E. FISK NEW...early days. The activities of the Bank of England are so closely interwoven...Thoughts and...
3.

The Operations of the Bank of England, 1890-1908: A Dynamic Probit Approach, in Journal of Money, Credit & Banking » Read Now
by Nurban Davutyan, William R. Parke. 14 pgs.

Collections: Entire Library
4.

'The Projecting Age'; William Patterson and the Bank of England, in History Today » Read Now
by David Armitage. 6 pgs.

Collections: History, Entire Library
5.

The Pound Sterling: A History of English Money ("Foundation of the Bank of England" begins on p. 125) » Read Now
by Albert Feavearyear. 462 pgs.

Collections: History, Entire Library
6.

Central Banking, Crises, and Global Economy (Discussion of the Bank of England begins on p. 17) » Read Now
by William Frazer. 416 pgs.

Collections: Entire Library

Bridging a gap between economic theory and observed reality, this book examines the most visible central banks, the move to monetary union in Europe, the IMF's new role, the rise of managed market economies, and the elevated importance of central banks. In central banking, attention has often turned...
Read More

Bridging a gap between economic theory and observed reality, this book examines the most visible central banks, the move to monetary union in Europe, the IMF's new role, the rise of managed market economies, and the elevated importance of central banks. In central banking, attention has often turned to the management of liquidity crises and the attainment of economic stability. In the global economy, the respective market economies are more interconnected, and information regarding crises in one part of the industrialized world is rapidly communicated to other nations, giving the crises themselves a more immediate impact. The information emanating from central banks at a policy level is crucial. This book aims to depict an ideal central bank for a globally connected country.
Show less
7.

City of Capital: Politics and Markets in the English Financial Revolution (Chap. Six "Politics and the Joint-Stock Companies") » Read Now
by Bruce G. Carruthers. 303 pgs.

Collections: Entire Library

While many have examined how economic interests motivate political action, Bruce Carruthers explores the reverse relationship in political economy by focusing on how political interests shape a market. The author sets his inquiry within the context of late Stuart England, when an active stock market...
Read More

While many have examined how economic interests motivate political action, Bruce Carruthers explores the reverse relationship in political economy by focusing on how political interests shape a market. The author sets his inquiry within the context of late Stuart England, when an active stock market emerged and when Whig and Tory parties vied for control of a newly empowered Parliament. He examines the institutional linkage between politics and the market that consisted of three joint-stock companies - the Bank of England, the East India Company, and the South Sea Company - which all loaned large sums to the government and whose shares dominated trading on the stock market. Through innovative research that connects the voting behavior of individuals in parliamentary elections with their economic behavior in the stock market, Carruthers demonstrates that party conflict figured prominently during the company foundings as Whigs and Tories tried to dominate company directorships. For them, the national debt was,as much a political as a fiscal instrument. In 1712, the Bank was largely controlled by the Whigs, and the South Sea Company by the Tories. The two parties competed, however, for control of the East India Company, and so Whigs tended to trade shares only with Whigs, and Tories with Tories. Probing such connections between politics and markets at both institutional and individual levels, Carruthers ultimately argues that competitive markets are not inherently apolitical spheres guided by economic interest but rather ongoing creations of social actors pursuing multiple goals.
Show less
8.

Adam Smith's Support for Money and Banking Regulation: A Case of Inconsistency, in Journal of Money, Credit & Banking » Read Now
by Edwin G. West. 8 pgs.

Collections: Philosophy, Entire Library
9.

Historical Essays ("The Bank of England Restriction, 1797-1821" begins on p. 178) » Read Now
by Henry Adams. 430 pgs.

Collections: History, Entire Library
10.

Should the Bank of England Be Independent, in National Institute Economic Review » Read Now
by Andrew P. Blake, Peter F. Westaway. 9 pgs.

Collections: Entire Library
11.

The Bank of England's Monetary Policy, in New England Economic Review » Read Now
by Geoffrey M.B. Tootell. 4 pgs.

Collections: Entire Library
12.

Monetary Problems of the British Empire (1931) ("Reserves of the Bank of England" begins on p. 130) » Read Now
by S. E. Harris. 596 pgs.

Collections: Entire Library
13.

The Architecture of Sir John Soane ("The Bank of England" begins on p. 65) » Read Now
by Dorothy Stroud. 172 pgs.

Collections: Entire Library
14.

The London Stock Exchange: A History (Chap. 1 "From Market to Exchange, 1693-1801") » Read Now
by Ranald C. Michie. 690 pgs.

Collections: History, Entire Library

In 2001, the London Stock Exchange will be 200 years old, though its origins go back a century before that. This book traces the history of the London Stock Exchange from its beginnings around 1700 to the present day, chronicling the challenges and opportunities it has faced, avoided, or exploited...
Read More

In 2001, the London Stock Exchange will be 200 years old, though its origins go back a century before that. This book traces the history of the London Stock Exchange from its beginnings around 1700 to the present day, chronicling the challenges and opportunities it has faced, avoided, or exploited over the years. Throughout, this history seeks to blend an understanding of the London Stock Exchange as an institution with that of the securities market of which it was, and is, such an important component. One cannot be examined satisfactorily without the other. Without a knowledge of both, for example, the causes of the `Big Bang' of 1986 would forever remain a mystery. However, the history of the London Stock Exchange is not just worthy of study for what it reveals about the interaction between institution and market. Such was the importance of the London Stock Exchange that its rise to world dominance before 1914, its decline thereafter, and its renaissance from the mid-1980s, explain a great deal about Britain's own economic performance and the working of the international economy. For the first time a British economic institution of foremost importance is studied throughout its entire history, with regard to the roles played and the constraints under which it operated, and the results evaluated against the background of world economic progress.
Show less
15.

British War Finance, 1914-1919 (1927) (Chap. IV "The Bank of England") » Read Now
by Henry F. Grady. 324 pgs.

Collections: Entire Library