An Act for confirming and continuing for a limited time, the restriction contained in the minute of council of the twenty-fifth of February one thousand seven hundred and ninety-seven, on payments of cash by the bank.
Citation
37 Geo. 3. c. 45
Dates
Royal assent
3 May 1797
Expired
2 December 1797
Other legislation
Repealed by
Statute Law Revision Act 1871
Status: Repealed
United Kingdom legislation
Act of Parliament
Parliament of Great Britain
Long title
An Act to amend and continue, until one month after the conclusion of the present war, the provisions contained in an act, passed in the session of parliament of the thirty-sixth and thirty-seventh years of his present Majesty, chapter ninety-one, videlicet, on the twenty second of June one thousand seven hundred and ninety-seven, for the restriction on payments of cash by the bank.
Citation
38 Geo. 3. c. 1
Dates
Royal assent
30 November 1797
Text of statute as originally enacted
The Bank Restriction Act 1797 was an Act of the Parliament of Great Britain (37 Geo. 3. c. 45) which removed the requirement for the Bank of England to convert banknotes into gold. The period lasted until 1821, when convertibility was restored. The period between these two dates is known as the Restriction period.
and 23 Related for: Bank Restriction Act 1797 information
The BankRestrictionAct1797 was an Act of the Parliament of Great Britain (37 Geo. 3. c. 45) which removed the requirement for the Bank of England to...
earlier – the government prohibited the bank from paying out in gold by the passing of the bankRestrictionAct1797. This prohibition lasted until 1821....
giving rise to the "Restriction period". The Bank was unable to pay out gold for its notes, and so under the BankRestrictionAct1797 began to issue lower...
322,010 in bullion), on 27 February 1797, Parliament passed the BankRestrictionAct1797 (37 Geo. 3. c. 45). This act, which turned all banknotes from "convertible"...
banknotes". Bank of England. Archived from the original on 11 October 2007. Retrieved 8 October 2007. "Bank Charter Act 1844, Section XI, "Restriction against...
published work, and decried the inflationary consequences of the BankRestrictionAct1797, advocating for a return to the gold standard. The publication...
to return British currency to the gold standard, reversing the BankRestrictionAct1797, within four years (it was actually accomplished by 1821). Peel...
Constitution. The First Bank building, located in Philadelphia, Pennsylvania, within Independence National Historical Park, was completed in 1797, and is a National...
borrowing power. The BankRestrictionAct1797 removed a requirement to convert notes to gold on demand. The Bank Charter Act 1844 gave the bank sole rights to...
Parliamentary Select Committee on the working of the Bank Charter Act 1844. He approved of the BankRestrictionAct1797. On early colonial scrip, Twells commented...
British at Fishguard. February 26 – BankRestrictionAct removes the requirement for the Bank of England (the national bank of Great Britain) to convert banknotes...
1816 and Grand Jury (Ireland) Act 1816 became law. His proposal on 1 May to end the renewal of the BankRestrictionAct1797 was defeated in the Commons...
century (the so-called BankRestriction Period, 1797–1821), the dramatically increased demand for bank notes slowly forced the banks to refine the technologies...
Founding Father who served as the second president of the United States from 1797 to 1801. Before his presidency, he was a leader of the American Revolution...
had occupied the left bank of the Rhine. The legal annexation of the territories was formally prepared at the Treaty of Leoben (1797) and concluded by the...
trade restrictions of the Navigation Acts were small." Some principles of English mercantile legislation pre-date both the passage of the Navigation Act 1651...
century. A great impetus to country banking came in 1797 when, with England threatened by war, the Bank of England suspended cash payments. A handful of...
in 1797. The copper penny was the only one of these coins to survive long. To alleviate the shortage of silver coins, between 1797 and 1804, the Bank of...
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