Abstract
In this chapter we address questions relating to the evolution of central banks during the period 1850–1913. While the operation of the gold standard gets the most attention in the literature, there was considerably more to central bank behaviour than merely adhering to the gold standard. As we show below, the monetary authorities of individual countries sometimes pursued what might be characterized as domestic monetary objectives from time to time. They also supervised their domestic banking systems, at least in some cases. It will be the main task of this chapter to discuss the institutional details of the financial sectors of the major European economies, keeping one eye on the operation of the gold standard (or its failure to operate as designed) and one eye on the evolving nature of central banking itself.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Copyright information
© 1997 Lee A. Craig and Douglas Fisher
About this chapter
Cite this chapter
Craig, L.A., Fisher, D. (1997). Central Banking before 1914. In: The Integration of the European Economy, 1850–1913. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-25165-0_5
Download citation
DOI: https://doi.org/10.1007/978-1-349-25165-0_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-25167-4
Online ISBN: 978-1-349-25165-0
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)