The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Fiduciary Issue

  • J. K. Horsefield
Reference work entry


The fiduciary issue of a bank (fiduciarius = held in trust) is that part of its note issue that is not covered by gold or by some other generally accepted means of payment, such as silver. The expression is associated especially with the Bank of England, where it dates from the Bank Charter Act 1844 (7 & 8 Vict., c.32), although this does not use the actual expression.

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  1. Clapham, Sir John. 1944. The bank of England: A history. Cambridge: Cambridge University Press.Google Scholar
  2. Committee on Finance and Industry (Macmillan Committee). 1931. Report Cmd 3897. London: HMSO.Google Scholar
  3. Committee on the Working of the Monetary System (Radcliffe Committee). 1959. Report Cmnd 827. London: HMSO.Google Scholar
  4. Sayers, R.S. 1976. The Bank of England, 1891–1944. Cambridge: Cambridge University Press.Google Scholar

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • J. K. Horsefield
    • 1
  1. 1.