The British Parliament passes a Bank Charter Act, allowing the Bank of England to retain exclusive possession of government balances, a monopoly of limited liability, and to be the only Joint-Stock Bank allowed to issue its own notes within a 65-mile radius of London.
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44 words
Citation: Editors, Litencyc. "Bank Charter Act". The Literary Encyclopedia. First published 30 December 2011 [https://www.litencyc.com/php/stopics.php?rec=true&UID=17992, accessed 26 April 2024.]
