Abstract
‘Bullionist Controversy’ is the label conventionally attached to the series of debates about monetary theory and policy which took place in Britain over the years 1797–1821, when the specie convertibility of Bank of England notes was suspended. The protagonists in this controversy are usually classified into two camps – ‘bullionist’ supporters of specie convertibility who were critics of the Bank of England, and ‘anti-bullionist’ adherents of an opposing viewpoint. Such labels are useful as organizing devices, but it is dangerous to apply them rigidly. The bullionist controversy was a series of debates about a variety of issues, and those debates involved a shifting cast of participants, whose views sometimes changed as controversy continued.
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