IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-26735-4_7.html
   My bibliography  Save this book chapter

The Banking World of the Nineteenth Century

In: Swiss Banking

Author

Listed:
  • Hans Bauer

    (Swiss Bank Corporation)

  • Warren J. Blackman

    (The University of Calgary)

Abstract

In terms of modern banking, Swiss bankers entered an international world of banking and finance which had already been developed, and there was really nothing they could do about it. Leadership in the banking industry had shifted to Great Britain where the banking system had reached a stage of maturity which was both domestically and internationally well advanced. In the first place it had raised gold to the level of an international currency, and in the second, it had placed its own bank reserves securely on a gold foundation. This it had done through, firstly, the institutional mechanism of the Bank of England and, secondly, the Bank Act of 1844 which strictly limited the issue of banknotes to the amount of gold in the Bank’s reserves. Thus, unless the Bank Act was suspended, which was only resorted to in times of emergency, every pound note was, for all practical purposes, the equivalent of gold.1

Suggested Citation

  • Hans Bauer & Warren J. Blackman, 1998. "The Banking World of the Nineteenth Century," Palgrave Macmillan Books, in: Swiss Banking, chapter 7, pages 115-126, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26735-4_7
    DOI: 10.1007/978-1-349-26735-4_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-26735-4_7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.