Country Bankers Act 1826

Country Bankers Act 1826

The Country Bankers Act 1826 was an Act of Parliament enacted during the reign of George IV. The Act restricted the issue of banknotes by commercial banks in England and Wales. It relaxed some of the laws of the Bank of England Act 1709, allowing joint-stock banks with more than six partners to issue bank notes, as long as they were located more than 65 miles (105 km) from London.[1]

This Act also allowed the Bank of England to open branches in major provincial cities, enabling better distribution for its notes.[1]

References

  1. ^ a b A brief history of banknotes Bank of England (retrieved 8 October 2007)

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