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Land Banks

In: Bills of Union

Author

Listed:
  • Aaron Graham

    (University of Oxford)

Abstract

A number of proposals for an imperial paper currency drew on the principles and practices of colonial land banks, which issued paper bank notes upon the security of mortgages on land. Successful examples such as the General Loan Office of Pennsylvania encouraged Benjamin Franklin and other writers to explore how they might be scaled up to provide the British Atlantic with credit and a paper currency to overcome the shortage of a common circulating medium. Each proposal adopted different elements of the system, however, in line with their broader views about the nature and location of imperial authority, the direction and trajectory of colonial development, and the purposes and aims of imperial and colonial reforms.

Suggested Citation

  • Aaron Graham, 2021. "Land Banks," Palgrave Studies in the History of Finance, in: Bills of Union, chapter 0, pages 27-46, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-3-030-67677-3_2
    DOI: 10.1007/978-3-030-67677-3_2
    as

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