Bank of England

[Bluebell]

I have Googled until I'm all googled out. Does any one know what the Bank of England issued for the first time in 1781? Many thanks in hope!

[garner]

Banks Charter [ public exchequer ]

[Bluebell]

I looked at that garner, but the Charter was renewed...from previous years. Something was apparently issued for the first time, and I really haven't got a clue still.

[Gruntfuttuck]

Something here about paper money maybe???...


Along with this ability, by 1781, the Bank of England became the sole manager of the National Debt, and this meant that, knowing all about the government�s borrowing, and about its ability to pay, the Bank of England could set its interest rates based on risk, and could keep them as low as possible. Since there was only one central bank that required repayment, and the interest rate was known, it was much easier for the English government to see its own financial situation, and to act upon that in positive ways, than it had been before.

With the government, the biggest borrower, tamed, the Bank of England became the central loan provider for county banks, who could then set their interest rates low based on the interest rate they knew they were receiving from the Bank of England, thus making loans to farmers and producers both inexpensive and predictable.

This solid financial structure, combined with paper money, made it possible for spending to increase, investment to increase, and land improvements and profits to increase.

[vicars]

This could be a very crafty question. In 1781 a church was demolished allowing the BoE building to expand Westwards - therefore the answer may be that it issued Westwards for the first time?

[jno]

the 1781 charter recognised it as in effect the national bank, in control of the national debt; but I don't know what specifically was issued

[shaneystar2]

I think it's chequebooks ..
The London bankers continued to give their customers notes or deposit-receipts for the sums left by them until about 1781, when in lieu of such notes they gave them books of cheques...I would imagine the Bank of England did this ?

[Bluebell]

Many thanks for all your answers, and for all the additional information which was very interesting. Now I have the dilema of which explanation to go for! Decisions, decisions! I shall be very curious to discover what the person setting this quiz deems to be the correct answer.Thank you again anyway!