This book is concerned with developments in three main areas of
monetary history: domestic commercial banking; monetary policy; and
the UK's international financial position. For ease of analysis the
160 years under study are arranged into three clear chronological
divisons. Part 1 covers the years 1826-1913, a period in which the
UK emerged as the world's leading economic power. It was in these
years that an extensive and fully-operative domestic banking system
was established. Part 2 covers 1914 to 1939 - the years which
marked a break in the traditional monetary arrangements of the
Victorian and Edwardian eras. Part 3 covers 1939-1986 when the
dominance of state influence within the domestic money markets was
re-established by the Second World War and the acceptance by the
authorities of the obligation to 'manage' the economy which meant
that successive postwar governments took direct responsibility for
the conduct of monetary and credit policy.
General
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