Land Banks

Aaron Graham ()
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Aaron Graham: University of Oxford

Chapter Chapter 2 in Bills of Union, 2021, pp 27-46 from Palgrave Macmillan

Abstract: Abstract A number of proposals for an imperial paper currency drew on the principles and practices of colonial land banks, which issued paper bank notes upon the security of mortgages on land. Successful examples such as the General Loan Office of Pennsylvania encouraged Benjamin Franklin and other writers to explore how they might be scaled up to provide the British Atlantic with credit and a paper currency to overcome the shortage of a common circulating medium. Each proposal adopted different elements of the system, however, in line with their broader views about the nature and location of imperial authority, the direction and trajectory of colonial development, and the purposes and aims of imperial and colonial reforms.

Keywords: Land bank; Benjamin Franklin; Charles Williamos; Lachlan Macleane; Currency (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-3-030-67677-3_2

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DOI: 10.1007/978-3-030-67677-3_2

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