Currency and National Distress
In response to the crisis of 1825–6, the government had sponsored legislation to suppress the issue of notes of small denomination by banks in England and Wales. It also decided to permit the formation of joint-stock banks outside London and its immediate surrounds (see Chapter 4). At the same time, it contemplated extension of the abolition of small notes to the Scottish and Irish banking systems.
KeywordsFree Trade Wage Earner Cash Payment National Distress Privy Council
Unable to display preview. Download preview PDF.