Bank Charter Act
Oxford Dictionary of British History:
Top
Bank Charter Act
Bank Charter Act, 1844. The culmination of government efforts to create an effective legal framework to achieve a stable currency, the Act defined the roles of the Bank of England. One department had the exclusive duty of issuing notes having a minimum value of £5 as legal tender in England and Wales. The other department undertook banking business, with powers which included fixing the minimum cost (interest) of borrowing money.
Related Videos:
Top
Bank Charter Act
Post a question - any question - to the WikiAnswers community:
Copyrights:
Oxford Dictionary of British History
A Dictionary of British History. Copyright © 2001, 2004 by Oxford University Press. All rights reserved.
Read more