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- W2487417823 abstract "When a now forgotten Restoration dramatist said that money speaks the language that all nations understand, the language must surely have been the Dutch of Amsterdam. In the nineteenth century it was, equally without doubt, the variously accented kinds of English spoken by the men whose activities centred on the City of London. London, in short, was a relative latecomer to the list of great financial capitals which stretches, both in time and space, across Europe via the Low Countries and France to South Germany and North Italy. By the eighteenth century London had acquired metropolitan status within the United Kingdom, but its domestic financial functions overshadowed its external. Nevertheless the acceptance of London as the pivot of the domestic financial system brought in its train habits and institutions of great significance and potentiality. The legal status and special relationship to government enjoyed by the Bank of England assured it a unique position, and, when it learned how to use it, a great power of leadership; the London private banks, offspring of the goldsmiths, scriveners and the like, served as the connecting link in the growing network of provincial ‘country’ banks; the handling of inland trade bills, the common instruments for the transmission of credits within the country, created in London a cluster of specialist bill-brokers in close association with the banks." @default.
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- W2487417823 date "1969-01-01" @default.
- W2487417823 modified "2023-09-24" @default.
- W2487417823 title "Britain, the Financial Capital of the World" @default.
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- W2487417823 doi "https://doi.org/10.1007/978-1-349-15292-6_3" @default.
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