Courtship -- Fiction; England -- Social life and customs -- 19th century -- Fiction; Mate selection -- Fiction
Climax of all, the Bank of England notes lost the confidence of the
public, and a frightful run was made on it. The struggle had been
prepared for, and was gigantic on both sides. Here the great hall of
the bank, full of panic-stricken citizens jostling one another to get
gold for the notes of the bank; there, foreign nations sending over
ingots and coin to the bank, and the Mint working night and day,
Sunday and week-day, to turn them into sovereigns to meet the run.
Sovereigns or else half-sovereigns were promptly delivered on demand.
No hesitation or sign of weakness peeped out; but under this bold and
prudent surface, dismay, sickness of heart, and the dread of a great
humiliation. At last, one dismal evening, this establishment, which at
the beginning of the panic had twenty millions specie, left off with
about five hundred thousand pounds in coin, and a similar amount in
bullion. A large freight of gold was on the seas, coming to their aid,
and due, but not arrived; the wind was high; and in a few hours the
people would be howling round their doors again. They sent a hasty
message to the government, and implored them to suspend, by order in
council, the operation of Mr. Peel's bill for a few days. A plump
negative from Mr. Canning.
Then, being driven to expedients, they bethought them of a chest of 1
pound notes that they had luckily omitted to burn.
Another message to the government, “May we use these?”
“As a temporary expedient, yes.”
The one-pound notes were whirling all over the country before
daybreak, and, marvelous anomaly, which took Richard Hardie by
surprise, they oiled the waves, the panic abated from that hour. The
holders of country notes took the 1 pound B. E. notes as cash with
avidity. The very sight of them piled on a counter stopped a run in
more than one city.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account