Abstract
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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Bibliography
Clapham, Sir John. 1944. The bank of England: A history. Cambridge: Cambridge University Press.
Committee on Finance and Industry (Macmillan Committee). 1931. Report Cmd 3897. London: HMSO.
Committee on the Working of the Monetary System (Radcliffe Committee). 1959. Report Cmnd 827. London: HMSO.
Sayers, R.S. 1976. The Bank of England, 1891–1944. Cambridge: Cambridge University Press.
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Horsefield, J.K. (2018). Fiduciary Issue. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_452
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DOI: https://doi.org/10.1057/978-1-349-95189-5_452
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