Banking before the bank: London's unregulated goldsmith-bankers, 1660-1694

"Out of shops located primarily on Lombard Street and in the West End, a few of London's goldsmiths specialized in offering banking services during the second half of the seventeenth century. In addition to traditional goldsmith activities such as selling silverware and exchanging coins, goldsmith-bankers supplied sophisticated financial intermediation between customers. Goldsmith-bankers accepted deposits, payable on demand, called ""running cash."" Goldsmith-bankers also accepted deposits under conditional withdrawal but with greater interest. The same goldsmiths loaned deposits, managed fractional reserves, issued bank notes and offered checkable accounts. Goldsmith-bankers supplied virtually any intermediary service that might define a bank."

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Economics

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2011

Author dc:creator

• Quinn, Stephen Francis

Contributors dc:contributor

• Neal, Larry

• Economics, Finance
• Economics, History
• Business Administration, Banking

Statement dc:rights

• Copyright 1994 Quinn, Stephen Francis

Language dc:language

eng

Identifier

AAI9512517
(UMI)AAI9512517

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/20001