British Currency School: Difference between revisions

The '''British Currency School''' was a group of British economists, active in the [[1840s]] and [[1850s]], who argued that excessive issue of [[banknote]]s was a major cause of [[price inflation]], and believed that, in order to restrict circulation, issuers of new banknotes should be required to hold an equivalent value of [[gold]] as a reserve. In these beliefs they were supporting the provisions of the [[Bank Charter Act 1844|1844 Bank Charter Act]], which had been passed by the [[Conservative Party (UK)|Conservative]] government of [[Robert Peel]].