The City of London and the Bank of England, August, 1914

Abstract

I. Peculiar position of Great Britain, a creditor country, as regards external payments, 48. — II. Depositories opened by the Bank of England outside Great Britain, 50. — III. Obligations by foreigners not paid, 52. — IV. Embarrassments of accepting houses, discount houses, joint stock banks, 55. — V. Stock exchange closed, 58; Bank of England guaranteed by Government against loss on bills taken over, 60; the bank rate kept moderate, 60. — VI. Possibility of internal drain, 64 ; Bank act suspended, 65; Currency Notes issued by Government, 66; extent of additional issues, 68. — VII. Conclusion, 70.