Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

The Bank of England's profits across 300 years: wars, financial crises and distribution

The Bank of England's profits across 300 years: wars, financial crises and distribution We have produced a series on the Bank of England's profits from its foundation in 1694 to the present time. This has not been available before. We explain the path of these profits over more than 300 years and account for their changing pattern. We next examine from where the profits derived, first in ‘normal times’, and then seeking, in particular, the impact of wars and financial crises. Other questions are: how much derived from seignorage; to what extent were profits passively acquired? Finally, we examine what the distribution regime was, and if, and how, that changed. This becomes more interesting in the period after nationalisation with some surprising results. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Financial History Review Cambridge University Press

The Bank of England's profits across 300 years: wars, financial crises and distribution

Financial History Review , Volume 29 (1): 22 – Apr 1, 2022

The Bank of England's profits across 300 years: wars, financial crises and distribution

Financial History Review , Volume 29 (1): 22 – Apr 1, 2022

Abstract

We have produced a series on the Bank of England's profits from its foundation in 1694 to the present time. This has not been available before. We explain the path of these profits over more than 300 years and account for their changing pattern. We next examine from where the profits derived, first in ‘normal times’, and then seeking, in particular, the impact of wars and financial crises. Other questions are: how much derived from seignorage; to what extent were profits passively acquired? Finally, we examine what the distribution regime was, and if, and how, that changed. This becomes more interesting in the period after nationalisation with some surprising results.

Loading next page...
 
/lp/cambridge-university-press/the-bank-of-england-apos-s-profits-across-300-years-wars-financial-hFbh5fFJAl
Publisher
Cambridge University Press
Copyright
Copyright © The Author(s), 2022. Published by Cambridge University Press on behalf of the European Association for Banking and Financial History
ISSN
1474-0052
eISSN
0968-5650
DOI
10.1017/S0968565022000038
Publisher site
See Article on Publisher Site

Abstract

We have produced a series on the Bank of England's profits from its foundation in 1694 to the present time. This has not been available before. We explain the path of these profits over more than 300 years and account for their changing pattern. We next examine from where the profits derived, first in ‘normal times’, and then seeking, in particular, the impact of wars and financial crises. Other questions are: how much derived from seignorage; to what extent were profits passively acquired? Finally, we examine what the distribution regime was, and if, and how, that changed. This becomes more interesting in the period after nationalisation with some surprising results.

Journal

Financial History ReviewCambridge University Press

Published: Apr 1, 2022

Keywords: central banking; profits; financial crises; accounting history; E58; G01; N23; N24

References