The Bank of England was established in 1694. Its purpose was to “promote the public Good and Benefit of our People”. Building on the practises of existing goldsmiths the Bank of England became the official bank of the United Kingdom. It would service government debt and manage monetary issues. The bank was originally established by Royal Charter and had private shareholders. It issues English currency on behalf of the Government.
Bank of England Links
Further Reading on the British Empire
Making of the United Kingdom
Making of the United Kingdom unit homepage – Glorious Revolution – The British in Ireland, 1688-1691 – Settlement of Ireland – Jacobite Opposition – Glencoe Massacre – Darien Scheme – Act of Union – Migration to the Americas
Economic Consequences of Empire
Economic Consequences of Empire – Unit homepage – Royal African Company – Triangular Trade – Lifting of the RAC monopoly – Plantations – The Slave Economy – Opposition to the Slave Trade in North America – Slave Resistance – East India Company – Expansion of trade in East India – Bank of England – South Sea Bubble Bursts
How did the Empire affect working lives and consumer habits in Britain?
How did the Empire affect British politics and changing ideas?
Common questions about the British Empire
Questions about the British Empire – When did the British Empire start? – When did the British Empire end? – What countries were in the British Empire? – Why did Britain want an empire? – What was life like in the British Empire? – Was the British Empire a force for good or bad? – What is Is perfidious Albion? – How was the British Empire controlled?