Cobden's stance on the currency and the political forces behind the approval of the Bank Charter Act of 1844

Avner Cohen

The European Journal of the History of Economic Thought, 1998, vol. 5, issue 2, 250-275

Abstract: Contemporary scholars consider the banking legislation of the first half of the nineteenth century, to have inhibited the development of British industry, However, some doubts about this conception should have arisen due to Richard Cobden's stance on the currency question in general and on the Bank Charter Act of 1844 in particular. Cobden, who is usually viewed as a representative of industrial interests, was expected to oppose the Bank Act. However, he did not. This paper attempts to show how can Cobden's views regarding monetary policy be reconciled with his stand as one of the most prominent leaders of industry at the time.

Keywords: Richard Cobden; Bank Charter Act; Currency school; Banking school; Monetary policy (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1080/10427719800000020

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