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Gladstone and the Bank of England: a Study in Mid-Victorian Finance, 1833-1866
GLADSTONE AND THE BANK OF ENGLAND: A STUDY IN MID-VICTORIAN FINANCE, 1833-1866 Patricia Caernarv en-Smith, B.A. Thesis Prepared for the Degree of MASTER OF ARTS UNIVERSITY OF NORTH TEXAS May 2007 APPROVED: Denis Paz, Major Professor Adrian Lewis, Committee Member and Chair of the Department of History Laura Stern, Committee Member Sandra L. Terrell, Dean of the Robert B. Toulouse School of Graduate Studies Caernarven-Smith, Patricia. Gladstone and the Bank of England: A Study in Mid- Victorian Finance, 1833-1866. Master of Arts (History), May 2007, 378 pp., 11 tables, bibliography, 275 titles. The topic of this thesis is the confrontations between William Gladstone and the Bank of England. These confrontations have remained a mystery to authors who noted them, but have generally been ignored by others. This thesis demonstrates that Gladstone’s measures taken against the Bank were reasonable, intelligent, and important for the development of nineteenth-century British government finance. To accomplish this task, this thesis refutes the opinions of three twentieth-century authors who have claimed that many of Gladstone’s measures, as well as his reading, were irrational, ridiculous, and impolitic. My primary sources include the Gladstone Diaries, with special attention to a little-used source, Volume 14, the indexes to the Diaries. The day-to-day Diaries and the indexes show how much Gladstone read about financial matters, and suggest that his actions were based to a large extent upon his reading. In addition, I have used Hansard’s Parliamentary Debates and nineteenth-century periodicals and books on banking and finance to understand the political and economic debates of the time. -
The Gold Metallurgy of Isaac Newton
The Gold Metallurgy of Isaac Newton E. G. V. Newman The Royal Mint, London The science of metals had always appealed to Isaac Newton and when, after the conclusion of his remarkable contributions to mathe- matics and physics, he was invited to take charge of the Royal Mint in London he was able not only to display his great gifts as an administrator but also to exercise his interest in metals and alloys and particularly in the metallurgy of gold. For over thirty years Isaac Newton lived the been accorded him for his scientific work despite the secluded life of a scholar. As undergraduate and later endeavours of his friends Samuel Pepys, John Locke Fellow and Professor at Cambridge he was shy and and Christopher Wren to secure for him a public post reserved, careless of his appearance and even more worthy of his stature. He returned to Cambridge and careless of his eating habits. This period came to a there busied himself with experimental work in triumphant conclusion, of course, with the publication chemistry and metallurgy. of the Principia in 1687. It was not until 1696 that an easement came about For a further period of thirty years, apparently by in the form of an appointment that was to effect a an astonishing transformation, Newton served his complete change in his way of life and his financial country as a highly able public official and also as the welfare. This came through the good offices of an leader of the scientific community. The achievements old friend from his undergraduate days at Trinity and the glory of the former period have not un- College whom he had re-encountered as a fellow naturally overshadowed the latter half of his working Member of Parliament, Charles Montagu. -
Histor Y at the Tower
History at the Tower Your short guide to the history of the Tower of London. Contents Visiting the Tower............................................... Page 2 Brief history of the Tower............................. Page 3 What to see............................................................ Page 5 Frequently asked questions.......................... Page 8 Page 1 Visiting the Tower Unlike most heritage sites, the Tower of London spans almost 1000 years of history, and has been the host of some of the nation’s most significant events. Because of this we would recommend that you plan your trip in advance, using the preliminary visit voucher where possible to ensure your familiarity with the Tower. The following information is a quick guide, broken into several sections: • Brief history of the Tower • What to see • Frequently asked questions about the Tower Please note that some teachers’ notes have also been prepared and can be downloaded from our website. Go to www.hrp.org.uk, navigate to Learning and then select Resources from the Related Links column. Page 2 Brief History of the Tower Roman origins The Tower was built on the south-eastern corner of the wall that the Romans built around Londinium circa AD 200. Parts of this wall are still visible within the Tower site. William the Conqueror After the successful Norman invasion, William the Conqueror set about consolidating his new capital by building three fortifications. The strongest of the three was the Tower, which controlled and protected the eastern entry to the City from the river, as well as serving as a palace. Work on the White Tower began in 1078 and probably took twenty-five years to complete. -
The Elizabethan Court Day by Day--1591
1591 1591 At RICHMOND PALACE, Surrey. Jan 1,Fri New Year gifts; play, by the Queen’s Men.T Jan 1: Esther Inglis, under the name Esther Langlois, dedicated to the Queen: ‘Discours de la Foy’, written at Edinburgh. Dedication in French, with French and Latin verses to the Queen. Esther (c.1570-1624), a French refugee settled in Scotland, was a noted calligrapher and used various different scripts. She presented several works to the Queen. Her portrait, 1595, and a self- portrait, 1602, are in Elizabeth I & her People, ed. Tarnya Cooper, 178-179. January 1-March: Sir John Norris was special Ambassador to the Low Countries. Jan 3,Sun play, by the Queen’s Men.T Court news. Jan 4, Coldharbour [London], Thomas Kerry to the Earl of Shrewsbury: ‘This Christmas...Sir Michael Blount was knighted, without any fellows’. Lieutenant of the Tower. [LPL 3200/104]. Jan 5: Stationers entered: ‘A rare and due commendation of the singular virtues and government of the Queen’s most excellent Majesty, with the happy and blessed state of England, and how God hath blessed her Highness, from time to time’. Jan 6,Wed play, by the Queen’s Men. For ‘setting up of the organs’ at Richmond John Chappington was paid £13.2s8d.T Jan 10,Sun new appointment: Dr Julius Caesar, Judge of the Admiralty, ‘was sworn one of the Masters of Requests Extraordinary’.APC Jan 13: Funeral, St Peter and St Paul Church, Sheffield, of George Talbot, 6th Earl of Shrewsbury (died 18 Nov 1590). Sheffield Burgesses ‘Paid to the Coroner for the fee of three persons that were slain with the fall of two trees that were burned down at my Lord’s funeral, the 13th of January’, 8s. -
The Sovereign – Setting the Gold Standard
ALCHEMIST ISSUE SEVENTY SEVEN The Sovereign – Setting the Gold Standard By Victoria Newman, PR Communications Manager, The Royal Mint an attempt to restabilise the county’s currency, the British Government took the decision to adopt the gold standard. As a result of this Great Coinage of 1816, the value of Britain’s currency became tied to the value of gold and a new circulating gold coin with a value of 20 shillings was introduced – the Sovereign. Almost half the weight and diameter of the original Sovereign, the new gold coin of 1817 more than matched its predecessor in the beauty of its design. The Italian engraver Benedetto Pistrucci was given the task of designing the reverse image for this new 19th-century Sovereign and created his own classical depiction of St George and the Royal Mint Sovereign, obverse and reverse dragon to take pride of place on the coin. Whilst this now iconic design continues to be struck on Victoria Newman reviews the history of the Sovereign, the flagship gold Sovereigns today, its initial outing actually lasted coin of The Royal Mint, and one of the world’s most famous gold coins for only eight years before it was replaced by more conventional heraldic designs in 1825. with a rich and varied history that dates back for more than 500 years. Dr Kevin Clancy, Director of the Royal Mint Museum, stated: “The gold Sovereign was first introduced in 1489 when Henry VII instructed the Mint to produce ‘a new money of gold’, which would be the largest coin England had ever seen, both in size and value, making in the process a strong statement about his reign. -
The History of the Royal Mint the History of the Royal Mint
The History of The Royal Mint The History of The Royal Mint The Royal Mint’s story stretches back over 1,100 years, beginning in the small workshops of Anglo-Saxon London and progressing through the centuries to be recognised today as the world’s leading export mint. To the Tower of London From 1279 a single mint was formed within the Tower of London. As a royal fortress, the Tower provided a secure location for striking the nation’s coins, and it became the home of The Royal Mint for the next 500 years. Sir Isaac Newton Master of the Mint Technical advances and improvements in standards were made while at the Tower, particularly under the most famous Master of the Mint, Sir Isaac Newton. He introduced measures to increase efficiency and improve the accuracy of minting, making it harder to counterfeit coins. Advances in coin-making technology and increasingly cramped conditions meant the Tower was no longer fit for purpose. Tower Hill A short distance from the Tower, a new mint was built at Tower Hill. Fully operational by 1812, it was equipped with the latest steam-powered machinery to increase production capacity. Improvements continued to be made, electricity replaced steam and technology changed processes, but it was still a struggle to meet a huge increase in demand for coins in the UK and overseas. By the 1920s coins were exported to countries all over the world, marking the move to a global operation. London to Llantrisant As the UK Government prepared to introduce a decimal currency in the 1960s, the decision was taken to move The Royal Mint out of London. -
A History of English Goldsmiths and Plateworkers
; 6HH G r~L D A AUBIF ABBOBUM. frjtoj of <fegl:b| (Solbsimtjjs anb |1httcborko, AND THEIR MARKS STAMPED ON PLATE P COPIED IN AC-SIMILE FROM CELEBRATED EXAMPLES J AND THE EARLIEST RECORDS PRESERVED AT GOLDSMITHS' HALL, LONDON, WITH THEIR NAMES, ADDRESSES, AND DATES OF ENTRY. 2,500 ILLUSTRATIONS. ALSO HISTORICAL ACCOUNTS OF THE GOLDSMITHS' COMPANY AND THEIR HALL MARKS; THE REGALIA; THE MINT; CLOSING OF THE EXCHEQUER GOLDSMITH-BANKERS; SHOP SIGNS; A COPIOUS INDEX, ETC. PRECEDED BY AN INTRODUCTORY ESSAY ON THE GOLDSMITHS' AET. BY WILLIAM CHAFFERS, AUTHOR OF " HALL MARKS ON GOLD AND SILVER PLATE," " L'ORFEVRERIE FRANCAISE," " MARKS AND MONOGRAMS ON POTTERY AND PORCELAIN " " THE KERAMIC GALLERY " (ILLUSTRATED), " THE COLLECTOR'S HANDBOOK OF MARKS AND MONOGRAMS ON POTTERY AND PORCELAIN," " PRICED CATALOGUE OF COINS," ETC. The Companion to "HALL MARKS ON GOLD AND SILVER PLATE," by the same Author. LONDON: W. H. ALLEN & CO., 13 WATERLOO PLACE. PUBLISHERS TO THE INDIA OFFICE. clo.Io.ccc.Lxxxin. All rights reserved.) : LONDON PRINTED BY W. H. ALL EX AND CO., 13 WATERLOO PLACE. 8.W. PKEFACE. The former work of the writer, entitled " Hall Marks on Gold and Silver Plate," has been so extensively patronised by the public as to call for six editions since the date of its first appearance in I860, supplying a most important aid to Ama- teurs and Collectors of Old Plate, enabling them to ascertain the precise date of manufacture by the sign manual of the Goldsmiths' Company, stamped upon it when sent to be assayed. That it has been generally appreciated is evident from the fact that it is to be found in the hands of every leading Goldsmith in the United Kingdom, as well as Amateurs and Possessors of family plate. -
Sir Isaac Newton and the Scottish Recoinage, 1707-10 Atho Murrayll *
Proc Soc Antiq Scot, 127 (1997), 921-944 Sir Isaac Newton and the Scottish recoinage, 1707-10 Atho MurraylL * ABSTRACT Although post-Unionthe recoinage best-documentedthe is episodehistory Scottishthe the in of mint, carriedwhich in been was there not full it a way out. has studythe Thisof paper discussesthe administration recoinage ofthe with particular reference involvementthe to Isaac ofSir Newton. PREPARATIONS The post-Union recoinage in Scotland has been seen as a postscript to the history of the Scottish coinage s littla r eo 1 more tha footnota n e histore Englisth th n f i eyo h mint, under whose supervisio carries wa t ndocumentatioi e d th out. t Ye 2 n availabl botn ei h Scottis Englisd han h sources far exceeds that for any of the earlier Scottish coinages. One main source is the papers of Sir Isaac Newton as Master of the Mint in the Tower of London. These reveal not only the keen interest that he took in the practical and technical problems arising from the recoinage but also the friendly relations that developed between him and the officers of the Edinburgh mint. The recoinage was undertaken in fulfilment of Article 16 of the Treaty of Union: 'That from and after the Union, the coin shall be the same standard and value throughout the United Kingdom, as now in England.' This English proposal for a common currency had been accepted Scottisbe yth h commissioners subjecconditions.o tw o t firste 3Th , continuatio Edinburge th f no h mint, was incorporated into Article 16. The second, that consideration be given to any losses suffered by private persons through reducing the coin to the same standard as England, was covered by Article 15 which made such losses a charge upon the Equivalent, the sum payable to Scotland for assuming shared liability for the English national debt. -
Key Documents in the History of Gold, 1
Volume I The Rise of the Gold Standard, 1660-1819 1730 Excerpts from John Conduitt’s treatise, ‘Observations upon the present state of our Gold and silver coins’. In 1717, Conduitt married Catherine Barton, the step-niece of Sir Isaac Newton, and he also succeeded Newton as Master of the Royal Mint in 1727, holding that office until his death ten years later. His tomb lies adjacent to Newton’s in Westminster Abbey. Conduitt’s writings as Master of the Mint are less well known than those of Newton, but, like Newton’s, they succinctly pose sound and insightful arguments in answer to the problems at hand. Though written in 1730, this lengthy treatise was published for the first time only in 1774 from a manuscript copy that, inexplicably, had been in the possession of the Irish satirist Jonathan Swift. It addresses the relationship between gold and silver in England as opposed to neighbouring countries during the early 18th century and the necessity to bring the proportional value of the metals more closely into line with their value in other European nations. ——— When we cannot pay in goods, what we owe abroad, on account of the balance of trade, or for the sale or interest of stocks belonging to foreigners, or for foreign national services, our debts must be paid in gold or silver, coined or uncoined; and when bullion is more scarce or more dear the English coin, English coin will be exported, either melted or in specie, in spite of any laws to the contrary. All that can be done in such cases is, to take care from time to time, that a pound -
The Control, Organization, Pro Ts and out Put of an Ecclesiastical Mint
Durham E-Theses The Durham mint: the control, organization, prots and out put of an ecclesiastical mint Allen, Martin Robert How to cite: Allen, Martin Robert (1999) The Durham mint: the control, organization, prots and out put of an ecclesiastical mint, Durham theses, Durham University. Available at Durham E-Theses Online: http://etheses.dur.ac.uk/4860/ Use policy The full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that: • a full bibliographic reference is made to the original source • a link is made to the metadata record in Durham E-Theses • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders. Please consult the full Durham E-Theses policy for further details. Academic Support Oce, Durham University, University Oce, Old Elvet, Durham DH1 3HP e-mail: [email protected] Tel: +44 0191 334 6107 http://etheses.dur.ac.uk 2 The Durham Mint: the Control, Organization, Profits and Output of an Ecclesiastical Mint Martin Robert Allen Submitted for the Doctorate of Philosophy at the University of Durham, in the Department of Archaeology 1999 The copyright of this thesis rests with the author. No quotation from it should be pubhshed without his prior written consent, and information derived from it should be acknowledged. This thesis is dedicated to the memory of VERA ADELAIDE ALLEN (nee HANN) (1924-1996) and GEORGE EDWARD ALLEN (1910-1997) Contents List of tables vi List of abbreviations vii Preface x Introduction 1 1. -
Presidential Address
PRESIDENTIAL ADDRESS C.E. CHALLIS I begin my report on the year on the subject of Vice Presidents. In July we learnt the sad news of Mr Doubleday's ill health and his desire to resign. Naturally, Council respected his wishes but in doing so was unanimous in its view that his service to the Society as Secretary, Director and Vice President should continue to be recognised by nominating him to Honorary Membership. Earlier in the year it was with great pleasure that I wrote on your behalf a note of congratulations to Vice President Stewart on the occasion of his being knighted. Won deservedly for his service to politics, Ian's honour none the less adds lustre to our membership. Peter Woodhead has continued his excellent work as Vice President by attending Council regularly and giving us the benefit of his wise advice. In gratefully acknowledging this I would also add a special note of thanks for the care he has taken over the numismatic affairs of our late President, John Brand. Through Peter's good offices we have been able to arrange for notes and extracts from primary sources which John had built up over many years to be placed on permanent loan in the Department of Coins and Medals in the British Museum, where interested students may consult them. He has also deposited some of John's papers in the Society's archive and taken an active interest in the possibility of publishing one of John's academic theses. Vice President Lyon cannot be with us tonight, but his reasons are impeccable; he is attending celebrations in connection with the award to him yesterday of the gold medal of the Institute of Actuaries. -
The Sign and Seal of Justice
Copyright © 2008 Ave Maria Law Review THE SIGN AND SEAL OF JUSTICE Rafael Alberto Madan † The United States Department of Justice often is asked about the origins and history of its seal and its various elements, and in particular, to render in English the Latin motto that figures prominently thereon: QUI PRO DOMINA JUSTITIA SEQUITUR. These queries are not of merely academic or historical interest. A motto is more than a supermarket jingle, commercial tag-line, or campaign slogan; its function, rather, is to encapsulate the aspirational intention or purpose of an individual or a sociological group—be it a family or society, a people or nation, an entity or † University of Virginia, B.A., with Distinction (1983), and J.D. (1986); General Counsel, Office of Justice Programs, U.S. Department of Justice; Adjunct Instructor (Constitutional Law & Jurisprudence), Christendom College, Front Royal, Virginia; Member of the Bars of Virginia and the District of Columbia. The views expressed herein are the author’s and not necessarily those of the Department, the College, or the Bars (or any (other) of their officers or employees), or of any other person, including any mentioned here. Unless otherwise indicated, the translations of foreign-language texts herein are by the author. Although any errors herein are his entirely, the author is profoundly indebted to the Honorable John David Ashcroft, seventy-ninth Attorney General of these United States, and to the Honorable Paul Drew Clement, lately Solicitor General thereof, who graciously provided the author with access to their respective offices; and also to the following current or former Department of Justice colleagues (placed in alphabetical order, because a qualitative ranking would be much too difficult—and much too fraught with danger): Carl A.