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VICTORIAN FICTION COLLECTION

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Victorian Britain:
Banking & Financial Systems

Home > Victorian Britain > Government > Banking & Financial Systems

Whether or not money makes the world go 'round, it is certainly an indispensible part of any government. This section looks at the financial side of the British government, from its banking regulations to "The Exchange." Even people's savings were often managed by the government, as the most common type of savings account was handled by the Post Office. Since it's almost impossible to separate private banking and finance from government finance, we've included both in this section.

Bank Regulations (Illustrated London Almanack, 1845)
Banking charter and regulations, 1845.

Banks & Bankers, 1845-1887 (Illustrated London Almanack, 1845-1887)
This list varies from year to year; sometimes it just includes a list of banks in London; in other years it includes a list of major banks throughout England; and in some years it also includes a list of banking officers.
1845184618511852186418651866186918701871187218731874187518761877187818791880188118821883188418861887

Financial Notabilities (Leisure Hour, 1868)
Some notable frauds, abuses, and methods of profiting from government service.

The Money Market (Leisure Hour, 1868)
Britain's banking and monetary system.

What's the Price of Consols? (Leisure Hour, 1868)
"Consols" are public securities, or stock in the government.

Decimal Coinage and the Metric System (Illustrated London Almanack, 1870)
An early suggestion to convert to the metric system in the UK and issue decimal coinage.

A New Way to Pay Old Debts: Tontines, by Lewis Hough (Cassell's Family Magazine, 1876)
A tontine "is an annuity paid in consideration of a sum down to a certain number of people, and divided annually amongst them; so that when any die there are fewer to share the division next time, and the portion of each is larger. When all are dead, the capital reverts absolutely to the persons who have received it, and become responsible for the interest. Public works have been raised in this way, and notably bridges."

How the Stock Exchange is Managed, by Thomas Skinner (Cassell's Family Magazine, 1877)

Our Weights and Measures, by J. Munro (Cassell's Family Magazine, 1879)
The Weights and Measures Act of 1878. The Act did not establish a metric system in Britain, but did decree that a contract was not invalid if the weights or measures of items being bought or sold were expressed in metrics rather than Imperial measurements.

Savings Banks (Illustrated London Almanack, 1881)
Assets and liabilities.

What Is the National Debt? (Cassell's Family Magazine, 1881)

England's Balance Sheet, by J.T. Gale (Cassell's Family Magazine, 1882)

What Fixes My Wages (Cassell's Family Magazine, 1885)

Bulls and Bears on the "Change" (Cassell's Family Magazine, 1887)

What Is Bi-Metallism? (Cassell's Family Magazine, 1887)
A system of coining gold and silver currency at a fixed ratio to one another (i.e., having a constant relative value rather than fluctuating values).

The Thrift of the Working Classes, by Alexander Cargill (Cassell's Family Magazine, 1887)
Statistics on the amounts put into savings by the working class in Britain.

A1 at Lloyds, by Richard Holland (Cassell's Family Magazine, 1888)

The Chapel of the Pyx (Cassell's Family Magazine, 1892)
A little known crypt in Westminster Abbey, where sample coins from the mint are stored as standards.

Concerning the Standards (Cassell's Family Magazine, 1892)
The standards of weights and measures, stored in Westminster Abbey.

Wool-gathering, by H. MacKinnon Walbrook (Cassell's Family Magazine, 1893)
How wool prices are set at the London wool market.

Hall-Marking (Cassell's Family Magazine, 1894)

One Year's Hard Cash, by J. Holt Schooling (The Strand, 1895B)
A host of statistics about coinage.

John Bull's Balance Sheet: How the Money Comes and Goes, by J. Holt Schooling (Windsor, 1897A)

Old Age Pensions, by J. Holt Schooling (English Illustrated Magazine, 1899A)
A statistical look at why the "establishment of State Pensions would be another and a trenchant blow towards destroying what may now remain of thrift and foresight among the 'working classes' of this country."

On the Safe Side: A Visit to the Strong-rooms of Chancery Lane, by B.M. O'Reilly (Windsor Magazine, 1899B)
The security measures of the Chancery Lane Safe Deposit (with some excellent photos).

• See also UK Public Income & Expenses for annual statements of the UK's revenues and expenditures.

The Bank of England

The Old Lady of Threadneedle Street (Cassell's Family Magazine, 1875)
A short description of the Bank of England.

The Romance of the Bank of England, by Emma Brewer (Girl's Own Paper, 1887)
Subtitled "The Old Lady of Threadneedle Street," this multi-part feature looks at the history and contemporary practices of the Bank of England.

The Old Lady of Threadneedle Street (Cassell's Family Magazine, 1894)
The Bank of England.

Bank of England Notes, by Gilbert Guerdon (The Strand, 1894B)
Bank notes took many forms before becoming the standard "paper currency" we know today!

The Old Lady of Threadneedle Street Again (Girl's Own Paper, 1896)
A short article advising "girls" to invest in "Accumulative India Stock"!

Imports & Trade

Pickles and Preserves (Leisure Hour, 1860)
A look at the manufacture, sale and import of pickles and preserves, and some of the legal issues surrounding them.

Seaborne Fruit for London (Leisure Hour, 1860)

Two Fiscal Epochs (Leisure Hour, 1860)
A look at British imports in the 16th century.

Where Our Food and Clothing Come From (Cassell's Family Magazine, 1891)
Statistics on British imports.

Our Christmas Plum-Puddings, by Ernest Williams (Windsor, 1898A)
Figures on costs and quantities of the imports of the various ingredients in a typical British plum-pudding.

• See Lists, Tables & Statistics for various statistics on finance and commerce.
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