(The Bank of England was granted suspension of the 1844 Bank Act, which imposed a

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• The Ascent of Money whole source · open book

  (The Bank of England was granted suspension of the 1844 Bank Act, which imposed a fixed relationship between the Bank’s reserve and note issue, but this was not equivalent to suspending specie payments, which could easily be maintained with a lower reserve.

  chapter: 6: From Empire to Chimerica

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