Country Bankers Act 1826
Encyclopedia
The Country Bankers Act 1826 was an Act of Parliament enacted during the reign of George IV
. The Act restricted the issue of banknotes by commercial banks in England and Wales. It relaxed some of the laws of the Bank of England Act 1709, allowing joint-stock banks with more than six partners to issue bank notes, as long as they were located more than 65 miles (104.6 km) from London.
This Act also allowed the Bank of England to open branches in major provincial cities, enabling better distribution for its notes.
George IV of the United Kingdom
George IV was the King of the United Kingdom of Great Britain and Ireland and also of Hanover from the death of his father, George III, on 29 January 1820 until his own death ten years later...
. The Act restricted the issue of banknotes by commercial banks in England and Wales. It relaxed some of the laws of the Bank of England Act 1709, allowing joint-stock banks with more than six partners to issue bank notes, as long as they were located more than 65 miles (104.6 km) from London.
This Act also allowed the Bank of England to open branches in major provincial cities, enabling better distribution for its notes.