Development of the Role of the Bank of England as a Lender of Last Resort, 1870-1914

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Considers the development of the Bank's role of lender of last resort in the last decades of the 19th century and the effectiveness of this in removing the possibility of widespread crisis occurring. Based on analysis of the Bank's discount and advance activities on a daily basis. Considers also the significance of the impact of the Governor in the exercise of LLR activity. Touches relatively briefly on Baring Crisis