Bank Restriction Period

E931259

The Bank Restriction Period was the era (1797–1821) in Britain when the Bank of England suspended gold convertibility of its notes, leading to significant monetary controversy and debates over inflation and currency depreciation.

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Label Occurrences
Bank Restriction Period canonical 1

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Statements (48)

Predicate Object
instanceOf historical period
monetary regime
appliesTo Bank of England NERFINISHED
appliesToJurisdiction United Kingdom of Great Britain NERFINISHED
country Great Britain NERFINISHED
describedBySource Bullion Report NERFINISHED
parliamentary debates of the early 19th century
endTime 1821
followedBy resumption of the gold standard in Britain
hasCause financial pressures of the French Revolutionary Wars
financial pressures of the Napoleonic Wars
suspension of gold convertibility at the Bank of England
hasEffect changes in the gold price in terms of paper pounds
constraints on gold outflows from the Bank of England
depreciation of the paper pound relative to gold
development of the bullionist versus anti-bullionist controversy
exchange rate depreciation of sterling
expansion of Bank of England note issue
increased use of inconvertible paper money
intensified debate over monetary theory
rise in the price level in Britain
suspension of specie payments by the Bank of England
hasParticipant Bank of England NERFINISHED
British Parliament NERFINISHED
British government NERFINISHED
British merchants and traders
holders of Bank of England notes
location England
Ireland NERFINISHED
London, England
surface form: London

Scotland
Wales
mainSubject convertibility of banknotes into gold
currency depreciation
inflation
monetary policy of the Bank of England
paper money
precededBy pre-1797 British gold standard
regulates convertibility of Bank of England notes
significantEvent Bank Restriction Act 1797 NERFINISHED
Bullion Committee of 1810 NERFINISHED
Bullion Report of 1810 NERFINISHED
Resumption Act 1819 NERFINISHED
resumption of cash payments in 1821
startTime 1797
studiedInDiscipline British history
economic history
monetary economics

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Full triples — surface form annotated when it differs from this entity's canonical label.