Bank of England Withdrawn Banknotes Reference Guide
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Karl Brunner and UK Monetary Debate
Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Karl Brunner and U.K. Monetary Debate Edward Nelson 2019-004 Please cite this paper as: Nelson, Edward (2019). \Karl Brunner and U.K. Monetary Debate," Finance and Economics Discussion Series 2019-004. Washington: Board of Governors of the Federal Reserve System, https://doi.org/10.17016/FEDS.2019.004. NOTE: Staff working papers in the Finance and Economics Discussion Series (FEDS) are preliminary materials circulated to stimulate discussion and critical comment. The analysis and conclusions set forth are those of the authors and do not indicate concurrence by other members of the research staff or the Board of Governors. References in publications to the Finance and Economics Discussion Series (other than acknowledgement) should be cleared with the author(s) to protect the tentative character of these papers. Karl Brunner and U.K. Monetary Debate Edward Nelson* Federal Reserve Board November 19, 2018 Abstract Although he was based in the United States, leading monetarist Karl Brunner participated in debates in the United Kingdom on monetary analysis and policy from the 1960s to the 1980s. During the 1960s, his participation in the debates was limited to research papers, but in the 1970s, as monetarism attracted national attention, Brunner made contributions to U.K. media discussions. In the pre-1979 period, he was highly critical of the U.K. authorities’ nonmonetary approach to the analysis and control of inflation—an approach supported by leading U.K. Keynesians. In the early 1980s, Brunner had direct interaction with Prime Minister Margaret Thatcher on issues relating to monetary control and monetary strategy. -
Darwin and Doubt and the Response of the Victorian Churches Churchman 100/4 1986
Darwin and Doubt and the Response of the Victorian Churches Churchman 100/4 1986 Nigel Scotland The Bible and Nineteenth Century Christians Although the Victorian Era was seen as one of the high points in the practice of English Christianity, and although outwardly speaking Church attendance remained at a relatively high level, below the surface many people were beginning to express a variety of doubts about the inspiration of the Bible and about points of Christian doctrine which had been cherished for centuries. These doubts stemmed in the main from two sources: discoveries in Science and the development of Biblical Criticism. The former caused men to question the traditional explanation of world origins and the latter brought doubts regarding the traditional doctrine of the inspiration of scripture. The main root of the problem lay in the Churches’ view of the scriptures. The Church in the eighteenth and early nineteenth century held a view of the scriptures which had been taken over from Greek thought in the early Christian centuries and been further reinforced by the Reformation. They thought of God literally breathing the Scripture into the writers of the Biblical documents. The result of this was that the Bible was held to speak authoritatively on all matters whether they related to man’s relationship to God or to the scientific origins of the Universe. The ordinary Christian man and woman in the eighteenth and early nineteenth centuries regarded the Judaeo-Christian religion as an Historical religion. It concerned the story of God’s historical acts in relation to his people. -
Victorian England and Its Political Reforms
1 9. Victorian England and its Political Reforms VICTORIAN ENGLAND AND ITS POLITICAL REFORMS. Key Words and Related Topics: . The Industrial Revolution . The Age of Revolution (1789 – 1848) . The British Empire . The Chartist Movement . The People’s Charter Temario de la Guía Docente: 5. Aspects of English National Identity: The Monarchy, the Protestant Reformation, and Liberalism.6. The Anglican Church, the Monarchy and Parliament: their historical origin, their evolution and their cultural roles today. 7. The British Empire and the Origins of a Global, English- Speaking Culture. 8. Victorian England and its critics. 9. From the Political Reforms of the 19th Century to the Welfare State. Introduction: To a large extent the history of the English nineteenth century in general, and of Victorian Britain in particular, is the history of gradual and moderate political reforms, which included the important extension of the franchise—among other reasons due to the pressure of revolutionary movements, in the rest of Europe, and at home of phenomena like the chartist movement. Important milestones in this aspect were the Reform Act of 1832. This reform of the political, electoral, and representative system responded to the profound changes that had taken place in England as a result of the growth in population and the rapid process of industrialization. These phenomena had drawn large masses of population into cities like Birmingham, Manchester or Liverpool, which experienced a tremendous growth. After the Reform Act of 1832 another significant moment was the Chartist Petition of 1848, which also coincided with revolutionary movements in the rest of Europe: 1848 is an international milestone in what the historian Eric Hobsbawn called the Age of Revolution (which started in 1789 with the French Revolution, and ended in 1848). -
The Pound Sterling
ESSAYS IN INTERNATIONAL FINANCE No. 13, February 1952 THE POUND STERLING ROY F. HARROD INTERNATIONAL FINANCE SECTION DEPARTMENT OF ECONOMICS AND SOCIAL INSTITUTIONS PRINCETON UNIVERSITY Princeton, New Jersey The present essay is the thirteenth in the series ESSAYS IN INTERNATIONAL FINANCE published by the International Finance Section of the Department of Economics and Social Institutions in Princeton University. The author, R. F. Harrod, is joint editor of the ECONOMIC JOURNAL, Lecturer in economics at Christ Church, Oxford, Fellow of the British Academy, and• Member of the Council of the Royal Economic So- ciety. He served in the Prime Minister's Office dur- ing most of World War II and from 1947 to 1950 was a member of the United Nations Sub-Committee on Employment and Economic Stability. While the Section sponsors the essays in this series, it takes no further responsibility for the opinions therein expressed. The writer's are free to develop their topics as they will and their ideas may or may - • v not be shared by the editorial committee of the Sec- tion or the members of the Department. The Section welcomes the submission of manu- scripts for this series and will assume responsibility for a careful reading of them and for returning to the authors those found unacceptable for publication. GARDNER PATTERSON, Director International Finance Section THE POUND STERLING ROY F. HARROD Christ Church, Oxford I. PRESUPPOSITIONS OF EARLY POLICY S' TERLING was at its heyday before 1914. It was. something ' more than the British currency; it was universally accepted as the most satisfactory medium for international transactions and might be regarded as a world currency, even indeed as the world cur- rency: Its special position waS,no doubt connected with the widespread ramifications of Britain's foreign trade and investment. -
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. -
Bank of England List of Banks
LIST OF BANKS AS COMPILED BY THE BANK OF ENGLAND AS AT 31 October 2017 (Amendments to the List of Banks since 30 September 2017 can be found on page 5) Banks incorporated in the United Kingdom Abbey National Treasury Services Plc DB UK Bank Limited ABC International Bank Plc Diamond Bank (UK) Plc Access Bank UK Limited, The Duncan Lawrie Limited (Applied to cancel) Adam & Company Plc ADIB (UK) Ltd EFG Private Bank Limited Agricultural Bank of China (UK) Limited Europe Arab Bank plc Ahli United Bank (UK) PLC AIB Group (UK) Plc FBN Bank (UK) Ltd Airdrie Savings Bank FCE Bank Plc Al Rayan Bank PLC FCMB Bank (UK) Limited Aldermore Bank Plc Alliance Trust Savings Limited Gatehouse Bank Plc Alpha Bank London Limited Ghana International Bank Plc ANZ Bank (Europe) Limited Goldman Sachs International Bank Arbuthnot Latham & Co Limited Guaranty Trust Bank (UK) Limited Atom Bank PLC Gulf International Bank (UK) Limited Axis Bank UK Limited Habib Bank Zurich Plc Bank and Clients PLC Habibsons Bank Limited Bank Leumi (UK) plc Hampden & Co Plc Bank Mandiri (Europe) Limited Hampshire Trust Bank Plc Bank Of America Merrill Lynch International Limited Harrods Bank Ltd Bank of Beirut (UK) Ltd Havin Bank Ltd Bank of Ceylon (UK) Ltd HSBC Bank Plc Bank of China (UK) Ltd HSBC Private Bank (UK) Limited Bank of Cyprus UK Limited HSBC Trust Company (UK) Ltd Bank of Ireland (UK) Plc HSBC UK RFB Limited Bank of London and The Middle East plc Bank of New York Mellon (International) Limited, The ICBC (London) plc Bank of Scotland plc ICBC Standard Bank Plc Bank of the Philippine Islands (Europe) PLC ICICI Bank UK Plc Bank Saderat Plc Investec Bank PLC Bank Sepah International Plc Itau BBA International PLC Barclays Bank Plc Barclays Bank UK PLC J.P. -
Country Codes and Currency Codes in Research Datasets Technical Report 2020-01
Country codes and currency codes in research datasets Technical Report 2020-01 Technical Report: version 1 Deutsche Bundesbank, Research Data and Service Centre Harald Stahl Deutsche Bundesbank Research Data and Service Centre 2 Abstract We describe the country and currency codes provided in research datasets. Keywords: country, currency, iso-3166, iso-4217 Technical Report: version 1 DOI: 10.12757/BBk.CountryCodes.01.01 Citation: Stahl, H. (2020). Country codes and currency codes in research datasets: Technical Report 2020-01 – Deutsche Bundesbank, Research Data and Service Centre. 3 Contents Special cases ......................................... 4 1 Appendix: Alpha code .................................. 6 1.1 Countries sorted by code . 6 1.2 Countries sorted by description . 11 1.3 Currencies sorted by code . 17 1.4 Currencies sorted by descriptio . 23 2 Appendix: previous numeric code ............................ 30 2.1 Countries numeric by code . 30 2.2 Countries by description . 35 Deutsche Bundesbank Research Data and Service Centre 4 Special cases From 2020 on research datasets shall provide ISO-3166 two-letter code. However, there are addi- tional codes beginning with ‘X’ that are requested by the European Commission for some statistics and the breakdown of countries may vary between datasets. For bank related data it is import- ant to have separate data for Guernsey, Jersey and Isle of Man, whereas researchers of the real economy have an interest in small territories like Ceuta and Melilla that are not always covered by ISO-3166. Countries that are treated differently in different statistics are described below. These are – United Kingdom of Great Britain and Northern Ireland – France – Spain – Former Yugoslavia – Serbia United Kingdom of Great Britain and Northern Ireland. -
Demonyms: Names of Nationalities [Demonym Is a Name Given to a People Or Inhabitants of a Place.] Country Demonym* Country Demonym*
17. Useful Tables Th is chapter contains useful tables presented in GPO style. Th e tables display various design features most frequently used in Government publications and can be considered examples of GPO style. U.S. Presidents and Vice Presidents President Years Vice President Years George Washington ....................................... (1789–1797) John Adams .................................................... (1789–1797) John Adams ..................................................... (1797–1801) Th omas Jeff erson ........................................... (1797–1801) Th omas Jeff erson ............................................ (1801–1809) Aaron Burr...................................................... (1801–1805) George Clinton .............................................. (1805–1809) James Madison ................................................ (1809–1817) George Clinton .............................................. (1809–1812) Vacant .............................................................. (1812–1813) Elbridge Gerry ............................................... (1813–1814) Vacant .............................................................. (1814–1817) James Monroe.................................................. (1817–1825) Daniel D. Tompkins ..................................... (1817–1825) John Quincy Adams ...................................... (1825–1829) John C. Calhoun ............................................ (1825–1829) Andrew Jackson .............................................. (1829–1837) -
Exchange of Irish Coins
IR£ COINS ONLY Irish Pound coins can be submitted for value exchange via the drop box located at the Central Bank of Ireland in North Wall Quay or by post to: Central Bank of Ireland, PO Box 61, P3, Sandyford, Dublin 16. Please note submissions cannot be dropped in to the Sandyford address. Please sort your submission in advance as follows: Submissions must include: 1. Completed form 2. Bank account details for payment 3. A copy of photographic ID for submissions over €100 More information: See the “Consumer Hub” area on www.centralbank.ie, email [email protected], or call the Central Bank on +353 1 2245969. SUBMISSION DETAILS Please give details of the COIN(S) enclosed Quantity OFFICE USE Quantity OFFICE USE Denomination Denomination Declared ONLY Declared ONLY ¼d (Farthing) ½p (Halfpenny) ½d (Halfpenny) 1p (Penny) 1d (Penny) 2p (Two pence) 3d (Threepence) 5p (Five pence) 6d (Sixpence) 10p (Ten pence) 1s (Shilling) 20p (Twenty pence) 2s (Florin) 50p (Fifty pence) 2/6 (Half crown) £1 (One pound) 10 s (Ten Shilling) TOTAL QUANTITY Modified 16.12.19 IR£ COINS ONLY Failure to complete the form correctly will result in delay in reimbursement. Please use BLOCK CAPITALS throughout this form. Important information for submissions by companies: Please provide your CRO number: , For submissions over €100, please submit a redacted bank statement in the company name for the nominated bank account instead of photo ID. Applicant Details Applicant’s Full Name Tel Number Address Email Address For submissions over €100: Have you attached the required ID? yes To protect your personal information, please fold completed form along dotted line ensuring this side faces inward. -
A SCOTTISH CURRENCY? 5 Lessons from the Design Flaws of Pound Sterling 2 | a SCOTTISH CURRENCY? CONTENTS
A SCOTTISH CURRENCY? 5 Lessons from the Design Flaws of Pound Sterling 2 | A SCOTTISH CURRENCY? CONTENTS A Scottish Currency? 3 The design flaws of the pound: 4 1. The amount of money in the economy depends on the confidence of bankers 4 2. Any attempt to reduce household debt can lead to a recession 5 3. The economy can only be stimulated through encouraging further indebtedness 6 4. The proceeds from the creation of money are captured by the banking sector rather than benefiting taxpayers 7 5. Banks cannot be allowed to fail, because if they did, the payments system would collapse 8 Conclusion 9 More information 10 5 LESSONS FROM THE DESIGN FLAWS OF POUND STERLING | 3 A SCOTTISH CURRENCY? In September 2014, Scotland will hold a referendum to decide whether to separate from the UK. A major question concerns which currency an independent Scotland would use: the pound, the euro, or a new Scottish currency? The Scottish government has stated that it will keep the pound sterling following a successful Yes vote for independence1. But an independent Scotland, making up just 8.5% of a pound sterling monetary union, would have no sway over monetary policy set by the Bank of England. Meanwhile the governor of the Bank of England, Mark Carney, and senior government ministers have been vocal about the challenges of an independent Scotland using the pound. For this reason, an independent Scotland may have to abandon the pound and establish its own currency, to regain control over its own monetary policy and economic affairs. -
Black Wednesday’
Salmond currency plan threatens a Scottish ‘Black Wednesday’ Alex Salmond has five plans for the currency of an independent Scotland according to his list in the STV debate on 25th August (and then there is the latent plan F). They were presented as a range of equally attractive options. This makes light of the issue. One of the options – using “a currency like the Danish krone” - means entering the ERM (the Exchange Rate Mechanism) that the UK was so disastrously a part of and which the UK wasted a meaningful portion of its foreign exchange reserves (£48 billion in today’s money) trying to stay within just on 16th September 1992. That was Black Wednesday, when the Bank of England base rate went up to 15%. Notably Alex Salmond omitted to mention the Norwegian krone: Scotland, with high public spending, too little oil&gas left in the North Sea, and an all-in national debt of £131 billion equivalent on a GDP of £146 billion, will need its oil&gas tax revenues to either defend its currency or manage its debt, and will not have enough left over for a Sovereign Wealth Fund. Scotland has the attributes of a lax fiscal policy now: a current deficit of taxes versus spending (called a primary fiscal deficit) of 5% of GDP, with extra spending promised by the SNP that could expand an already high debt as a proportion of GDP. The debt is likely to start out at above 70% in cash, plus another 20% in contingent liabilities like PFI, backing for Bank of Scotland and RBS, and Scotland’s share of the Euro bailout of Ireland and Portugal. -
Review of Financial Regulation in the Crown Dependencies
Review of Financial Regulation in the Crown Dependencies Presented to Parliament by the Secretary of State for the Home Department by Command of Her Majesty November 1998 Cm 4109-i Part 1 - Main Report £17.85 Cm 4109-ii Part 2 - The Jersey Finance Centre £10.30 Cm 4109-iii Part 3 - The Guernsey Finance Centre £12.60 Cm 4109-iv Part 4 - The Isle of Man Finance Centre £11.40 published by The Stationery Office as Part 1 ISBN 0 10 141092 1 Part 2 ISBN 0 10 141093 X Part 3 ISBN 0 10 141094 8 Part 4 ISBN 0 10 141095 6 Review of Financial Regulation in the Crown Dependencies OFFICE OF THE REVIEW OF FINANCIAL REGULATION IN THE CROWN DEPENDENCIES c/o Home Office 50 Queen Anne's Gate London SW1H 9AT Rt Hon Jack Straw MP Home Secretary Home Office 50 Queen Anne's Gate London SW1H 9AT 24 October 1998 Dear Home Secretary REPORT OF THE REVIEW OF FINANCIAL REGULATION IN THE CROWN DEPENDENCIES You commissioned me on 20 January 1998 to review with the Island authorities in Jersey, Guernsey and the Isle of Man their laws, systems and practices for regulation of their international finance centres, the combating of financial crime and co- operation with other jurisdictions. I have pleasure in submitting my Report with this letter. As explained in Chapter 1, the Report consists of four Parts. Part I presents my own assessment. I take responsibility for what it says. It includes a two-page summary of Principal Issues followed by a full Summary and Main Conclusions and then the Main Report.