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Scripophily.com Presents
A Comparative Chronology of Money
from Ancient Times to the Present Day
© Roy Davies & Glyn Davies, 1999.
1800 - 1829
AD
Based on the book: A History of Money from Ancient Times to
the Present Day by Glyn Davies, rev. ed.
Cardiff: University of Wales Press, 1996. 716p. ISBN 0 7083 1351 5.
| An earlier bill in 1812 was unsuccessful. The 1817 Act does make certain exemptions,
e.g. tokens issued by Poor Law unions are allowed until 1821 by which time the supply of
official coinage has increased sufficiently to make tokens redundant. |
| p 296 |
|
| 1817-1852 |
Bank of France discount rate remains almost unchanged |
| During this time it is fixed at 4% except during the revolutionary troubles of 1848. |
| p 558 |
|
| 1818-1819 |
Various US states levy taxes on the branches of the Second Bank |
| The Second Bank of the United States refuses to pay these taxes and wins its
case in the Supreme Court. |
| p 476-477 |
|
| 1820 |
Last British silver pennies are minted |
| This is nearly 1,100 years after the first English silver pennies, though silver
continues to be used for higher value coins for another 100 years. |
| p 207 |
|
| 1821 |
Restoration of convertibility of Bank of England notes |
| This is two years earlier than the target date set by the 1819 Act for the Resumption
of Cash Payments and completes the establishment of the gold standard in practice as well
as in law. |
| p 303 |
|
| 1822 |
The Société Général founded in Belgium |
| The bank plays a vigorous role in Belgium's industrial revolution, the first of any
country on the European mainland. |
| p 558 |
|
| 1824 |
Parliament rejects decimalization of British currency |
| Further proposals made in 1853, 1857 and 1918 are also rejected before the Halsbury
Report of 1963 is accepted and put into effect in 1971. |
| p 442 |
|
| 1824 |
Illinois declares all branches of the Second Bank illegal |
| This decision is overturned by the US Supreme Court. |
| p 477 |
|
| 1824 |
Clearing system developed by Boston banks |
| The Suffolk Bank of Boston, in co-operation with 6 other local banks, begins the
development of a system of clearing inter-bank accounts. |
| p 476 |
|
| 1825-1826 |
Banking crisis in England |
| During the year 60 banks fail. To alleviate the liquidity shortage caused by the
financial panic the Bank of England issues one pound notes and the Royal Mint steps up the
production of sovereigns. |
| p 306 |
|
| 1826 |
Banking reforms introduced in England and Wales |
| The bank crisis is blamed on small, weak country banks issuing too many small
denomination notes. Parliament bans the issue of notes of less than £5 in England and
Wales but not, after protests, in Scotland. Parliament also allows the creation of new
joint-stock banks outside a 65 mile radius of central London and also permits the Bank of
England to set up regional branches. |
| p 307-308 |
|
| 1826 |
Death of the last British Exchequer Chamberlain |
| Upon his death the Treasury Tallies are abolished in accordance with the Act of 1783.
Later the redundant tallies are returned to the House of Commons, an action that has
disastrous consequences in 1834. |
| p 663 |
|
| 1828 |
Andrew Jackson elected President of the USA |
| Jackson has been suspicious of banks ever since he read the history of the South Sea
Bubble. |
| p 476 |
|
| 1829 |
New York State passes Safety Fund Act |
| This tightens up conditions for chartering banks and contains provisions foreshadowing
later developments in deposit insurance. |
| p 476 |
|
Timeline of Money
| 9,000 - 1 BC | 1 - 499 AD | 500 - 1099 | 1100 - 1299 | 1300 - 1499 | 1500 - 1599 |
| 1600 - 1699 | 1700 - 1749 | 1750 - 1799 | 1800 - 1829 | 1830 - 1859 | 1860 - 1879 |
| 1880 - 1899 | 1900 - 1919 | 1920 - 1938 | 1939 - 1959 | 1960 - 1979 | 1980 - 2002 |
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