by Patrick O’Brien (Professor Emeritus,
London School of Economics)  and Nuno Palma (Assistant Professor,
University of Groningen)
– Friday 21 October 2016

NEW EHES Working paper

The Bank Restriction Act of 1797 suspended the convertibility of the Bank of
England’s notes into gold. The current historical consensus is that the suspension was a result of the state’s need to finance the war, France’s remonetization, a loss of confidence in the English country banks, and a run on the Bank of England’s reserves following a landing of French troops in Wales.

Read the full post here: http://positivecheck.blogspot.it/2016/10/danger-to-old-lady-of-threadneedle.html

The working paper can be downloaded here: http://www.ehes.org/EHES_100.pdf