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Henry Thornton (reformer)
Henry Thornton (10 March 1760 – 16 January 1815) was an English economist, banker, philanthropist and parliamentarian. Early life He was the son of John Thornton (1720–1790) of Clapham, London, who had been one of the early patrons of the evangelical movement in Britain. At the age of five, Henry attended the school of Mr Davis at Wandsworth Common, and later with Mr Roberts at Point Pleasant, Wandsworth. From 1778 he was employed in the counting house of his cousin Godfrey Thornton, two years later joining his father's company, where he later became a partner. Career In 1784 Thornton joined the banking firm of Down and Free of London, later becoming a partner of the company which became known as Down, Thornton and Free. It was under his direction that this became one of the largest banking firms in London, with regional offices in other British cities. In 1782 Henry Thornton had been urged to seek a seat in Parliament, and applied to contest one of the two seats for Hull ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thornton - Enquiry Into The Nature And Effects Of The Paper Credit Of Great Britain, 1939 - 5734278
Thornton or ''variant'', may refer to: People *Thornton (surname), people with the surname ''Thornton'' *Justice Thornton (other), judges named "Thornton" *Thornton Wilder, American playwright Places Australia *Thornton, New South Wales * Thornton, Queensland, a locality in the Lockyer Valley Region * Thornton, South Australia, a former town *Thornton, Victoria Canada *Thornton, Ontario New Zealand *Thornton, Bay of Plenty, settlement in the Bay of Plenty * Thornton, Waikato, suburb of Hamilton * Thornton Bay, settlement on the Coromandel Peninsula South Africa *Thornton, Cape Town United Kingdom * Thornton, Angus, a location *Thornton, Buckinghamshire *Thornton, East Riding of Yorkshire *Thornton, Fife *Thornton, Lancashire *Thornton, Leicestershire *Thornton, Lincolnshire *Thornton, Merseyside * Thornton, Northumberland, a location *Thornton, Middlesbrough, North Yorkshire *Thornton, Pembrokeshire *Thornton, West Yorkshire *Thornton Abbey, Lincolnshire *Tho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Pitt The Younger
William Pitt the Younger (28 May 175923 January 1806) was a British statesman, the youngest and last prime minister of Great Britain (before the Acts of Union 1800) and then first prime minister of the United Kingdom (of Great Britain and Ireland) as of January 1801. He left office in March 1801, but served as prime minister again from 1804 until his death in 1806. He was also Chancellor of the Exchequer for all of his time as prime minister. He is known as "Pitt the Younger" to distinguish him from his father, William Pitt, 1st Earl of Chatham, who had previously served as prime minister and is referred to as "William Pitt the Elder" (or "Chatham" by historians). Pitt's prime ministerial tenure, which came during the reign of King George III, was dominated by major political events in Europe, including the French Revolution and the Napoleonic Wars. Pitt, although often referred to as a Tory, or "new Tory", called himself an "independent Whig" and was generally opposed to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Bills Doctrine
The real bills doctrine says that as long as bankers lend to businessmen only against the security (collateral) of short-term 30-, 60-, or 90-day commercial paper representing claims to real goods in the process of production, the loans will be just sufficient to finance the production of goods. The doctrine seeks to have real output determine its own means of purchase without affecting prices. Under the real bills doctrine, there is only one policy role for the central bank: lending commercial banks the necessary reserves against real customer bills, which the banks offer as collateral. The term "real bills doctrine" was coined by Lloyd Mints in his 1945 book, ''A History of Banking Theory''. The doctrine was previously known as "the commercial loan theory of banking". Moreover, as bank loans are granted to businessmen in the form either of new bank notes or of additions to their checking deposits, which deposits constitute the main component of the money stock, the doctrine assur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank ("lender of last resort"); * Reserve management: managing a country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Bank
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodities, particularly cloth merchants. Historically, merchant banks' purpose was to facilitate and/or finance production and trade of commodities, hence the name "merchant". Few banks today restrict their activities to such a narrow scope. In modern usage in the United States, the term additionally has taken on a more narrow meaning, and refers to a financial institution providing capital to companies in the form of share ownership instead of loans. A merchant bank also provides advice on corporate matters to the firms in which they invest. History Merchant banks were the first modern banks. They emerged in the Middle Ages from the Italian grain and cloth merchants community and started to develop in the 11th century during the large Eur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pound Sterling
Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. It is currently the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and Renminbi, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
An Enquiry Into The Nature And Effects Of The Paper Credit Of Great Britain
''An Enquiry into the Nature and Effects of the Paper Credit of Great Britain'', generally shortened to ''Paper Credit'', is a book on monetary theory in economics, written by Henry Thornton and published in Britain in 1802. It is seen as prescient of modern monetary problems, having addressed paper currency, risk of inflation, and other issues that were appearing as certificates began to displace gold as currency in early 19th century Britain. History Along with being an advocate of liberty — siding in Parliament with William Pitt the Elder in advocacy for the new United States and being one of the most important Abolitionists of slavery in England — Henry Thornton was a major force in the mercantile world and one of the top bankers in England. He had turned a small banking house into one of the largest in London in the last decade of the 18th century. During that period, monetary theory was largely stagnant, although monetary technology was still advancing. One result of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cheap Repository Tracts
The ''Cheap Repository Tracts'' consisted of more than two hundred moral, religious and occasionally political tracts issued in a number of series between March 1795 and 1817, and subsequently re-issued in various collected editions until the 1830s. They were devised by Hannah More and intended for sale or distribution to literate poor people, as an alternative to what she regarded as the immoral traditional broadside ballad and chapbook publications. The tracts proved to be enormously successful with more than two million copies sold or distributed during the first year of the scheme. Background During the early 1790s there was widespread concern about the possibility of a popular uprising in Britain following the French Revolution, and the radical ideas which were circulating in popular publications. The English religious writer and philanthropist Hannah More referred to the ‘corrupt and vicious little books and ballads which have been hung out of windows in the most alluring f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Select Committee (United Kingdom)
In British politics, parliamentary select committees can be appointed from the House of Commons, like the Foreign Affairs Select Committee; from the House of Lords, like the Delegated Powers and Regulatory Reform Committee; or as a joint committee of Parliament drawn from both, such as the Joint Committee on Human Rights. Committees may exist as "sessional" committees – i.e. be near-permanent – or as "ad-hoc" committees with a specific deadline by which to complete their work, after which they cease to exist, such as the Lords Committee on Public Service and Demographic Change. The Commons select committees are generally responsible for overseeing the work of government departments and agencies, whereas those of the Lords look at general issues, such as the constitution, considered by the Constitution Committee, or the economy, considered by the Economic Affairs Committee. Both houses have their own committees to review drafts of European Union directives: the Eur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Commons Of Great Britain
The House of Commons of Great Britain was the lower house of the Parliament of Great Britain between 1707 and 1801. In 1707, as a result of the Acts of Union of that year, it replaced the House of Commons of England and the third estate of the Parliament of Scotland, as one of the most significant changes brought about by the Union of the kingdoms of England and Scotland into the Kingdom of Great Britain. In the course of the 18th century, the office of Prime Minister developed. The notion that a government remains in power only as long as it retains the support of Parliament also evolved, leading to the first ever motion of no confidence, when Lord North's government failed to end the American Revolution. The modern notion that only the support of the House of Commons is necessary for a government to survive, however, was of later development. Similarly, the custom that the Prime Minister is always a Member of the Lower House, rather than the Upper one, did not evolve until ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles James Fox
Charles James Fox (24 January 1749 – 13 September 1806), styled ''The Honourable'' from 1762, was a prominent British Whig statesman whose parliamentary career spanned 38 years of the late 18th and early 19th centuries. He was the arch-rival of the Tory politician William Pitt the Younger; his father Henry Fox, 1st Baron Holland, a leading Whig of his day, had similarly been the great rival of Pitt's famous father, William Pitt, 1st Earl of Chatham ("Pitt the Elder"). Fox rose to prominence in the House of Commons as a forceful and eloquent speaker with a notorious and colourful private life, though at that time with rather conservative and conventional opinions. However, with the coming of the American War of Independence and the influence of the Whig Edmund Burke, Fox's opinions evolved into some of the most radical to be aired in the British Parliament of his era. Fox became a prominent and staunch opponent of King George III, whom he regarded as an aspiring tyrant. He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
