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Financial and Monetary Policy of Great Britain During the Napoleonic Wars

Author

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  • Norman J. Silberling

Abstract

The circumstances attending the Bank Restriction, 398. — Deviations in exchange rates and specie, 398. — Sentiments of Paine, Fox, and Sheridan; their political objectives, 400. — Walter Boyd's statement of a depreciation theory; responsibility attributed solely to the Bank; indices of excessive issue, 404. — Henry Thornton and the purchasing-power-parity theory; confusion between convertible and inconvertible conditions; defense of the Bank, 407. — Horner's interpretation, 411. — Lord King's view of excess and depreciation; disregard of political factors; exoneration of the country banks, 413. — John Wheatley's program for war financing by systematic lowering of prices; refutation of the country-bank doctrine, 415. — Writings of Ricardo; agitation for immediate contraction of Bank issues and possibly resumption of cash payments; theoretical confusions and inconsistencies; hostility to the Bank; possibly explained by stock-exchange interests, 423. — The Bullion Committee Report a theoretical essay divorced from facts, abounding in misconceptions, and proposing impossible policy, 430. — Ricardo's striking change of attitude in 1819, 437.

Suggested Citation

  • Norman J. Silberling, 1924. "Financial and Monetary Policy of Great Britain During the Napoleonic Wars," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 38(3), pages 397-439.
    • Handle: RePEc:oup:qjecon:v:38:y:1924:i:3:p:397-439.
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    Citations

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    Cited by:

    1. Patrick K O'Brien & Nuno Palma, 2020. "Danger to the Old Lady of Threadneedle Street? The Bank Restriction Act and the regime shift to paper money, 1797–1821," European Review of Economic History, European Historical Economics Society, vol. 24(2), pages 390-426.
    2. Broadberry, Stephen & , & Klein, Alexander & Overton, Mark & van Leeuwen, Bas, 2022. "British Business Cycles, 1270-1870," CEPR Discussion Papers 17459, C.E.P.R. Discussion Papers.
    3. Patrick K. O'Brien & Nuno Palma, 2023. "Not an ordinary bank but a great engine of state: The Bank of England and the British economy, 1694–1844," Economic History Review, Economic History Society, vol. 76(1), pages 305-329, February.
    4. Pamfili Antipa & Christophe Chamley, 2019. "Regimes of Fiscal and Monetary Policy in England during the French Wars (1793-1821)," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-327, Boston University - Department of Economics.
    5. Joshua R. Hendrickson, 2018. "The Bullionist Controversy: Theory and New Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(1), pages 203-241, February.
    6. P. Antipa & C. Chamley, 2017. "Monetary and Fiscal Policy in England during the French Wars (1793-1821)," Working papers 627, Banque de France.
    7. PARYS, Wilfried, 2020. "David Ricardo, the Stock Exchange, and the Battle of Waterloo: Samuelsonian legends lack historical evidence," Working Papers 2020009, University of Antwerp, Faculty of Business and Economics.

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