9781334468476 - Reform of the Bank of England Note Issue: Statistical Critique on the Operation of the Bank Charter Act of 1844, and Suggestions for an Improved ... on the 17th Dec... (3 risultati)

PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000.

PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000.

Paperback. Condizione: New. Print on Demand. This book analyses the impact and effectiveness of the Bank of England Act of 1844, which governs the UK's note issue system. The author critically examines the act's intention of maintaining banknote convertibility and argues that other methods could have achieved this without sacrificing economic stability. The author posits that the act's duciary issue of £15 million in notes, backed by government securities rather than bullion, is unnecessary and has not achieved its intended purpose of providing money for the public. Statistical data demonstrates that the majority of these notes have remained idle in the Bank's reserves, failing to stimulate commerce and industry as intended. The author questions the artificial separation between the Bank's issue and banking departments, arguing that the former's bullion reserves should not dictate the latter's monetary policy, leading to unnecessary interest rate fluctuations and hampering economic growth. The book offers a valuable critique of the Bank of England Act of 1844, highlighting its shortcomings and suggesting that a revised system is needed, one that prioritizes the stability and effectiveness of the UK's monetary system over adherence to outdated principles. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.