Jump to ContentJump to Main Navigation
British BankingContinuity and Change from 1694 to the Present$
Users without a subscription are not able to see the full content.

Ranald C. Michie

Print publication date: 2016

Print ISBN-13: 9780198727361

Published to Oxford Scholarship Online: December 2016

DOI: 10.1093/acprof:oso/9780198727361.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 October 2021

Consolidation and Competence, 1825–1914

Consolidation and Competence, 1825–1914

(p.70) 3 Consolidation and Competence, 1825–1914
British Banking

Ranald C. Michie

Oxford University Press

Between 1825 and 1914 banking in Britain was transformed. In the place of numerous individual banks with few branches and doing a largely local business, there appeared a small number of large banks with numerous branches and nationwide operations. The result was a much more stable banking system. These large banks possessed the scale that made them resilient in the face of crises and large enough to recruit, train, and supervise their staff, so becoming highly professional in the conduct of their business. These banks were also open to inspection by qualified accountants so helping to increase public trust in their stability. Many have attributed the change to the legislation beginning in 1826, that permitted the formation of joint-stock banks but it was not until much later that nationwide joint-stock banks began to dominate the British banking system.

Keywords:   legislation, Bank Charter Act, joint-stock banks, Barclays, Lloyds, National Provincial, bank audits, Midland, Westminster

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .