Specie Banks

Aaron Graham ()
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Aaron Graham: University of Oxford

Chapter Chapter 3 in Bills of Union, 2021, pp 47-75 from Palgrave Macmillan

Abstract: Abstract Specie was still seen in this period as the ultimate financial security, and a number of reformers therefore suggested how an imperial paper currency might function in an environment where money invariably drained away from the Americas to Europe. The principles and practices of colonial ‘currency finance’ and private banking as well as British Exchequer Bills, the Bank of England, Scottish provincial and joint-stock banks and even the Dutch West India Company were all ransacked for ideas about how to support a common circulating medium in the British Empire. All used these ideas to reinforce their wider views about the present and ideal commercial, political and strategic relationship between the imperial metropole and its colonial territories, with proposals ranging from the mundane to the messianic and millenarian.

Keywords: Specie; Currency; Alexander Cuming; Richard Jackson; Henry McCulloh (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_3

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DOI: 10.1007/978-3-030-67677-3_3

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