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- Title
Commercial bills at the Bank of England.
- Abstract
The article provides information about commercial bills at the disposal of Bank of England. After its foundation the Bank began to discount bills in 1694. In the mid of three hundred eleven years the place of commercial bills in the Bank's activities had gone through many ups and downs. In the 18th century, discounting bills was an important source of income for the Bank. Bills of exchange are negotiable instruments used especially to finance trade. A government liability and not a bill of exchange, the treasury bill, had been introduced with the Treasury Bills Act 1877.
- Subjects
BANK of England; COMMERCIAL documents; BILLS of exchange; CREDIT laws; GOVERNMENT liability; NEGOTIABLE instruments
- Publication
Bank of England Quarterly Bulletin, 2005, Vol 45, Issue 4, p422
- ISSN
0005-5166
- Publication type
Article