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Financial and Monetary Policy of Great Britain During the Napoleonic Wars


  • Norman J. Silberling


The circumstances attending the Bank Restriction, 398. — Deviations in exchange rates and specie, 398. — Sentiments of Paine, Fox, and Sheridan; their political objectives, 400. — Walter Boyd's statement of a depreciation theory; responsibility attributed solely to the Bank; indices of excessive issue, 404. — Henry Thornton and the purchasing-power-parity theory; confusion between convertible and inconvertible conditions; defense of the Bank, 407. — Horner's interpretation, 411. — Lord King's view of excess and depreciation; disregard of political factors; exoneration of the country banks, 413. — John Wheatley's program for war financing by systematic lowering of prices; refutation of the country-bank doctrine, 415. — Writings of Ricardo; agitation for immediate contraction of Bank issues and possibly resumption of cash payments; theoretical confusions and inconsistencies; hostility to the Bank; possibly explained by stock-exchange interests, 423. — The Bullion Committee Report a theoretical essay divorced from facts, abounding in misconceptions, and proposing impossible policy, 430. — Ricardo's striking change of attitude in 1819, 437.

Suggested Citation

  • Norman J. Silberling, 1924. "Financial and Monetary Policy of Great Britain During the Napoleonic Wars," The Quarterly Journal of Economics, Oxford University Press, vol. 38(3), pages 397-439.
  • Handle: RePEc:oup:qjecon:v:38:y:1924:i:3:p:397-439.

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    Cited by:

    1. Pamfili Antipa & Christophe Chamley, 2019. "Regimes of Fiscal and Monetary Policy in England during the French Wars (1793-1821)," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-327, Boston University - Department of Economics.
    2. Joshua R. Hendrickson, 2018. "The Bullionist Controversy: Theory and New Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(1), pages 203-241, February.
    3. P. Antipa & C. Chamley, 2017. "Monetary and Fiscal Policy in England during the French Wars (1793-1821)," Working papers 627, Banque de France.

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