The rise of financial accountability in British joint stock banks: 1825 to 1845
© European Association for Banking and Financial History e.V. 2020 This study explores parliamentary reforms related to the financial accountability of banks following the 1825–6 and 1836–7 financial crises in England. An appraisal of nineteenth-century parliamentary Hansard transcripts reveals...
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| Format: | Journal Article |
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Cambridge University Press
2020
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| Online Access: | http://hdl.handle.net/20.500.11937/80599 |
| _version_ | 1848764242863325184 |
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| author | Game, Chantal Cullen, Lisa Brown, Alistair |
| author_facet | Game, Chantal Cullen, Lisa Brown, Alistair |
| author_sort | Game, Chantal |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | © European Association for Banking and Financial History e.V. 2020
This study explores parliamentary reforms related to the financial accountability of banks following the 1825–6 and 1836–7 financial crises in England. An appraisal of nineteenth-century parliamentary Hansard transcripts reveals early banking legislative pursuits. The study observes the laissez-faire and interventionist approaches towards the banking enactments of 1826, 1833 and 1844 that underpin the transformation of financial accountability during this era. The Bank Notes Act 1826 imposed financial accountability on the Bank of England by requiring the mandatory disclosure of notes issued. The Bank Notes Act 1833 extended this requirement to all other banks. The Bank Charter Act 1833 increased the financial accountability of the Bank of England by requiring it to provide an account of bullion and securities belonging to the governor and company, as well as deposits held by the bank. Thereafter, the Joint Stock Banks Act 1844 pioneered the regular publication of assets and liabilities and communication of the balance sheet and profit and loss account to shareholders. State intervention in the financial accountability of banks during the period from 1825 to 1845 appears to have been cumulative. |
| first_indexed | 2025-11-14T11:16:15Z |
| format | Journal Article |
| id | curtin-20.500.11937-80599 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T11:16:15Z |
| publishDate | 2020 |
| publisher | Cambridge University Press |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-805992021-01-05T04:02:20Z The rise of financial accountability in British joint stock banks: 1825 to 1845 Game, Chantal Cullen, Lisa Brown, Alistair 1501 - Accounting, Auditing and Accountability © European Association for Banking and Financial History e.V. 2020 This study explores parliamentary reforms related to the financial accountability of banks following the 1825–6 and 1836–7 financial crises in England. An appraisal of nineteenth-century parliamentary Hansard transcripts reveals early banking legislative pursuits. The study observes the laissez-faire and interventionist approaches towards the banking enactments of 1826, 1833 and 1844 that underpin the transformation of financial accountability during this era. The Bank Notes Act 1826 imposed financial accountability on the Bank of England by requiring the mandatory disclosure of notes issued. The Bank Notes Act 1833 extended this requirement to all other banks. The Bank Charter Act 1833 increased the financial accountability of the Bank of England by requiring it to provide an account of bullion and securities belonging to the governor and company, as well as deposits held by the bank. Thereafter, the Joint Stock Banks Act 1844 pioneered the regular publication of assets and liabilities and communication of the balance sheet and profit and loss account to shareholders. State intervention in the financial accountability of banks during the period from 1825 to 1845 appears to have been cumulative. 2020 Journal Article http://hdl.handle.net/20.500.11937/80599 10.1017/S0968565020000086 Cambridge University Press restricted |
| spellingShingle | 1501 - Accounting, Auditing and Accountability Game, Chantal Cullen, Lisa Brown, Alistair The rise of financial accountability in British joint stock banks: 1825 to 1845 |
| title | The rise of financial accountability in British joint stock banks: 1825 to
1845 |
| title_full | The rise of financial accountability in British joint stock banks: 1825 to
1845 |
| title_fullStr | The rise of financial accountability in British joint stock banks: 1825 to
1845 |
| title_full_unstemmed | The rise of financial accountability in British joint stock banks: 1825 to
1845 |
| title_short | The rise of financial accountability in British joint stock banks: 1825 to
1845 |
| title_sort | rise of financial accountability in british joint stock banks: 1825 to
1845 |
| topic | 1501 - Accounting, Auditing and Accountability |
| url | http://hdl.handle.net/20.500.11937/80599 |