Banking in Crisis
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Whitehall, April^8-, 1842;
Hicks, Walter Anderson Peacock, Robert West- Venables, Josia.h, Wilson, Alfred Wils.cm, . wood, Thomas Quested Finqis, James, Ranishaw, Lea Wilson, Edward Lawford, Peter Laurie, Edward William Stevens, John Atkinson, James Southby Wilson, Richard Lea Wilson, Robert Ellis, William Bridge, John Brown, Edward Godson, Thomas Peters, James Walkinshaw, Joseph Somes, jun., Pewtress, Joshua Thomas Bedford, Henry John Samuel Gregson, William Hughes Hughes, jun., Eltnes, John William tipss, William Muddel), Henry Alexander Rogers, George Magnay, John Master- Prichard, Benjamin Stubbing, Henry Smith, man, jun., Daniel Mildred, Frederick Mildred, John. • Thomas Watkins, and George Wright, Esqi's., Meek Britten, Richard Lambert Jones, David Wij- Deputies of • the city of London, and the liams Wire, Charles Pearson, Thomas Saunder?, and. Deputies thereof for the time being ; John Garratt, James Cosmo Melville, Esqrs. Edward Tickner, Robert Williams, James Brogden, and Stephen Edward Thornton, Esqis., Sir Thomas Neave, Bart., Jeremiah Olive, Jeremiah Harman, ' Isaac Solly, Andrew Loughnan, Abel Chapman, Whitehall, April 25, 1842. Cornelius Buller, Wilj'mm Ward, and Melvil Wilson, . Esqrs,, Sir John Henry Felly, Bart., William Cotton, .The Queen has been graciously pleased, 'np'-n Robert Barclay, Edward Henry Chapman, Henry the nomination of his Grace the Duke of NorioJk, Davidson, Charles Pasr.oe Grenfell, Abel Lewes Earl Marshaland Hereditary Marshal of England,. Gower, Thomson Hankey, junr., John Oliver to appoint Edward Howard Gibbon, Esq. Moworay. Hanson, John Benjamin Heath, Kirkman Daniel Herald of Arms Extraordinary. • Hodgson, Charles Frederick Hiith, Alfred Latham, James Malcolmson, • Jauies Morris, Sheffield .Neave, George Warde. Norman, John .Horsley Palmer, James Pattison, • Christopher Pearse, Henry James Foreign-Office, May, 2, 1842: , Prescdtt, and Charles Pole, Esqrs., Sir John Rae Read, Bart., William R. -
Alternative Data” and Global Agriculture: from the Trans-Atlantic Slave Trade to Agroecology
Economic policy, \alternative data" and global agriculture: from the trans-Atlantic slave trade to agroecology M. Chang ([email protected])1, C.-H. Huang2, and I.S. Mian3 1Centre for Agroecology, Water and Resilience, Coventry University 2Department of Applied Mathematics, National Sun Yat-sen University 3Department of Computer Science, University College London October 30, 2017 Abstract and applied studies in agroecology, and (c) small scale farmer-scientist collaborations. We use heterogeneous public datasets and informa- Keywords: Bank of England; Trans-Atlantic slave tion (re)sources to aid the task of identifying techni- trade; European Empires; Global large-scale land ac- cal, legal, financial, policy and other mechanisms ca- quisitions; Agroecology pable of serving the diverse needs of practitioners of agroecology (primarily small scale farmers) and ad- vocates of food sovereignty. Disparate material in 1 Introduction the public domain and open source software tools are utilised to tell a story of interest to audiences Fiscal policy refers to government actions regarding ranging from the general public to policy and deci- taxation and spending whilst monetary policy refers sion makers. A variety of financial and non-financial to central banking actions regarding the money sup- (\alternative") datasets are employed to explore the ply and interest rates. These two main strands of past, present and future of agriculture. Historical economic policy determine and influence agricultural macroeconomic data released by the Bank of Eng- policy: laws and activities relating to domestic agri- land in conjunction with other freely available data culture and imports of foreign agricultural products. are utilised to paint a broad brush strokes picture An increasingly important objective of policy mak- of the impacts of Britain on the lands, agricultures, ers and central bankers is preventing or mitigating and economies of peoples and regions across the globe the triggers of financial crises: greater monetary and over five centuries. -
A Data Science and Historical Global Political Ecology Perspective on the financial System, Agriculture and Climate: from the Trans-Atlantic Slave Trade to Agroecology
A data science and historical global political ecology perspective on the financial system, agriculture and climate: from the trans-Atlantic slave trade to agroecology M. Chang ([email protected]) Centre for Agroecology, Water and Resilience, Coventry University, Priory Street, Coventry CV1 5FB, UK C.-H. Huang Department of Applied Mathematics, National Sun Yat-sen University, Taiwan I.S. Mian Department of Computer Science, University College London, 66-72 Gower Street, London WC1E 6EA, UK September 18, 2019 Abstract We show that narrative visualisation can contribute to identifying financial, legal, political, trade and other mechanisms capable of serving the diverse needs of practitioners of agroecology (primarily small scale farmers) and advocates of food sovereignty. Using financial and non-financial public information (re)sources such as historical macroeconomic data from the Bank of England and open source software tools, we paint portraits of (a) the trans-Atlantic slave trade and European Empires, (b) 21st century large-scale land acquisitions, and (c) traditional farming systems, agricultural biodiversity, and climate change. This triptych of background notes plus autonomous yet complementary cartograms and timelines overlaid with events provides long historical and large geographical lenses for understanding how the web of institutional and social structures of the United Kingdom, Europe, and the United States of America were and remain central to the international political ecology of agriculture, particularly food and fibre. We propose that policies that support, strengthen and scale agroecology can increase financial stability by reducing climate change-related physical, liability and transition risks thereby making macroeconomies more resilient to crises and prepared for adverse shocks. -
The London Gazette, November 27, 1857
4128 THE LONDON GAZETTE, NOVEMBER 27, 1857. Eagleton, Jeremiah Evans, John Briggs, George Charles Alliston, George Alliston, Philip Cham- Meadway, William Tylor, Francis Bennoch, pion Toker, David Henry Stone, William Dallison Sheffield Neave. Bonamy Dobree, Thomas Baring, Starting, John Kinnersley Hooper, John Hum- Henry Wollaston Blake, Travers Buxton, Edward phery, junior, William Fowler Mountford Cope- Henry Chapman, Robert Wigram Crawford, land, Joseph Anderson, junior, John Wood, Wilh'am Cotton, Benjamin Buck Greene, Charles Samuel Christy, Bonamy Dobree, junior, John Pascoe Grenfell, Henry Hucks Gibbs, Thomson Hill, William Jones Loyd, Donald Nicoll, John Hankey, John Oliver Hanson, John Benjamin Thomas Norris, Philip Joseph Salomons, John Heath, Kirkman Daniel Hodgsori, Henry Lance- Henry Smith, Thomas Matthewman Challis, lot Holland, John Gellibrand Hubbard, Thomas William Henry Challis, Alfred Wilberforce Newman Hunt, Alfred Latham, George Lyall, Challis, John Ridley Hunter, Robert Bousfield, Thomas Masterman, Alexander Matheson, James Edward Jones Williams, Edward Hunter, Edward Morris, George Warde Norman, Thomas Charles Masterman, George Moore, John Francis Moon, Smith, Thomas Matthias Weguelin, Henry Hulse John Garford, Richard Nathaniel Philipps, George Berens, Arthur Edward Campbell, James Pat- Woodhouse Currie, Alexander Henry, Lewis Loyd, tisson Currie, Charles Frederick Huth, James Charles Magniac, James Nugent Daniell, Duncan. Malcolmson, and Thomas Tooke, Esquires, Ross Dunbar, William Schaw Lindsey, George Moffatt, -
The Demise of Overend Gurney
94 Quarterly Bulletin 2016 Q2 The demise of Overend Gurney By Rhiannon Sowerbutts of the Financial Stability Strategy and Risk Directorate, Marco Schneebalg of the Major UK Deposit Takers Supervision Directorate and Florence Hubert of the Monetary Analysis Directorate.(1) • 150 years ago, Overend Gurney, the largest discount house in the City of London, suspended payment. The Times immediately christened this date ‘Black Friday’ due to the financial panic that ensued. The failure of Overend Gurney was caused by a change of business model, whereby it entered the lending business but with poor lending practices and insufficient risk management. • The Bank of England, a private bank at the time, refused assistance to Overend Gurney but supported the refinancing of viable banks and brokers by depleting its own reserves. Over a ten-day period, the bill discount rate (the Bank Rate of the time) was increased four times to 10%. Financial stability returned in the following months. • This lending by the Bank of England led to valuable debates around optimal central bank lending and limited liability and inspired Walter Bagehot’s principles for lender of last resort. There are several lessons which remain relevant today. Overview The failure of Overend Gurney — a discount house which On 9 May 1866, Overend Gurney asked the Bank of England had been larger than its three next largest competitors for assistance, which was refused on the basis of the broker’s combined — sent shockwaves through the financial system in insolvency; Overend Gurney suspended payments at May 1866. The seeds of its demise had been sown many 15.30 on 10 May 1866. -
Downloadable from the MWA Page Project Money and an Address by Our Very Welcome! on the British Province Website
From the Sanctuary I am often dismissive of the book of Leviticus, lies at the heart of the book - which I believe is oravianoravian because the details of it seem to have little relevance relevant for today; and that wisdom is in the mm for us today as Christians. It is a book in the Bible beneficial nature of living with an awareness of God, which features little in the lectionary readings, so we and of 'holiness', which needs to be at the centre MARCH 2020 don't have many sermons that are based on that of our living. How often do we think about God in mmessengeressenger book in our Sunday services. It contains mainly a the detail of what we do before we do anything, or series of regulations for worship and religious make any decision? Yet, Leviticus shows that God is ceremonies from ancient Israel, and it regulates ways concerned with the detail of our lives, and that our of living and worshipping God so that people could lives would be lived better if we were concerned maintain their relationship with God. Perhaps the about God more in the detail of everything that most famous words to come from Leviticus are 'Love we do. your neighbour as you love yourself' - words that Whilst 'God' has been taken out of much in society, are often attributed to Jesus, and yet by uttering many of the political messages we are surrounded them, Jesus was merely quoting the early scriptures by regarding climate change and single use plastic that evolved out of the formation of the (to name but only two) have, at their core, the establishment of Israel as a coherent community, necessity for good stewardship of our planet - a based on a belief of what was God's will - and biblical principle found in Leviticus; therefore, God is therefore God's law. -
The London Gazette, November 27, 1863. 6.051
THE LONDON GAZETTE, NOVEMBER 27, 1863. 6.051 would 'consist 'of demands and pretensions put for- for that' purpose,- viz.:—William Anderson Rose, ward by some and 'resisted by others ; and, there Esquire, Lord Mayor of the city of London, and being no supreme authority in such an assembly to the Lord'Mayor of the said city for the time being; enforce the" decisions'of the majority, the Congress •William-Taylor' Copelahd and Samuel Wilson, would' probably separate, leaving maiiy of its Esquires,-Sir-'James Duke, Baronet; Sir' John members- on worse terms with each other than Musgrove, Baronet, Thomas Challis, and Thomas they had been when they met. But if this would 'Sidney,- 'Esquires; Sir Francis Graham Moon, be the probable result, it follows that-no JecK-ase Baronet, David Salomons and Thomas Quested of armaments is likely to be'effected by the pro- Finnis, 'Esquires, Sir Robert Walter Garden, posed Congress. M. "Droujn de L'Huys refers to a Knight, and John Carter, Esquire, Aldermen of proposal made 'by Lord Clarendon in one of the the city of London; Russell Gurney, Esquire, last sittings'of the. Congress of Paris. But Her Recorder of the city of London, and the Recorder Mejesty's Government undersland that proposal io of the said city for the time being; William have reference to a dispute between-two Powers to Lawrence, Warren Stormes Hale,' Benjamin be referred to the good offices of a friendly Power, Samuel. Phillip's,1 Thomas Gabriel, William Feme- but in no way to the assembling of a General ley Allen, John Joseph Mechi, Edward Cohder, Congress. -
The Bank of England: a Socio-Economic Inquiry Into Private Money Creation, Public Debt Financing and the Long Run Implications for Inequality in Britain and Beyond
Faculty of Business, Law and Arts Business School University of Southampton University of Southampton The Bank of England: A Socio-Economic Inquiry into Private Money Creation, Public Debt Financing and the Long Run Implications for Inequality in Britain and beyond Thesis for the degree of Doctor of Philosophy October 2018 by Plamen Ivanov Page 1 of 265 Abstract UNIVERSITY OF SOUTHAMPTON FACULTY OF BUSINESS, LAW AND ARTS Business School Doctor of Philosophy THE BANK OF ENGLAND: A SOCIO-ECONOMIC INQUIRY INTO PRIVATE MONEY CREATION, PUBLIC DEBT FINANCING AND THE LONG RUN IMPLICATIONS FOR INEQUALITY IN BRITAIN AND BEYOND By Plamen Ivanov This socio-economic inquiry investigates the roots of inequality and how this scourge was woven in the social fabric with the design of the institutional framework of private money and public debt for the benefit of a tight group of institutional entrepreneurs. Thus, I first examine the founders of the Bank of England and contextualise their role in the erection of this key capitalist firm, making use of historical organisation studies in the explicating mode. I find that the well-honed official narrative about the founding fathers of the Bank of England (William Paterson, Charles Montagu and Michael Godfrey) disintegrates once Pikettian examination across time and space is conducted. By juxtaposing theory and empirical evidence, I show that the French Church community of Threadneedle Street is a better identifier behind its creation. In the next chapter, by adopting the same research framework in the narrating mode, I reason that the credit issuance denationalisation by this small faction of identifiable Whig entre- preneurs and concurrently the legitimisation of this new social order with the Bank of England as its focal point was the centrepiece of the institutional shift in the late 17th century.