Emergence of the Modern Framework, 1850–1913

  • G. A. Fletcher


In the second half of the nineteenth century the financial sector of the British economy became subject to forces of change which were to alter it almost beyond recognition. The growth of international trade, in which Britain took full part, meant that banking and other financial institutions had to become responsive to and be involved in the conduct and finance of foreign trade and in the international movement of capital.


Money Market Market Rate Limited Liability Company Bank Reserve Bank Rate 


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  1. 10.
    S. Nishimura, The Decline of Inland Bills of Exchange in the London Money Market 1855–1913 (Cambridge, 1971).Google Scholar
  2. 15.
    R. S. Sayers, Central Banking after Bagehot (Oxford, 1957) p. 11.Google Scholar
  3. 16.
    L. S. Pressnell, ‘Gold Reserves, Banking Reserves, and the Baring Crisis of 1890’, Essays in Money and Banking in Honour of R. S. Sayers, ed. C. R. Whittlesey and J. S. G. Wilson (Oxford, 1968) p. 170.Google Scholar

Copyright information

© G. A. Fletcher 1976

Authors and Affiliations

  • G. A. Fletcher
    • 1
  1. 1.University of LiverpoolUK

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