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‘The last acre and sixpence’: views on bank liability regimes in nineteenth-century Britain

‘The last acre and sixpence’: views on bank liability regimes in nineteenth-century Britain AbstractIn the nineteenth century, British banking had a complete spectrum of shareholder liability regimes, ranging from pure limited to unlimited liability. Although the debate surrounding the US experience with double liability in banking is well documented, we know relatively little about the British experience of and debate about shareholder liability regimes in banking. Consequently, this article traces the development of views on shareholder liability regimes in nineteenth-century British banking. One of the main findings is that the chief argument for limited liability in British banking was based upon the perceived weaknesses of unlimited liability. In addition, it appears that much of the debate concentrated on the depositor-assuring viability of alternatives to unlimited liability. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Financial History Review Cambridge University Press

‘The last acre and sixpence’: views on bank liability regimes in nineteenth-century Britain

Financial History Review , Volume 16 (2): 17 – Nov 1, 3

‘The last acre and sixpence’: views on bank liability regimes in nineteenth-century Britain

Financial History Review , Volume 16 (2): 17 – Nov 1, 3

Abstract

AbstractIn the nineteenth century, British banking had a complete spectrum of shareholder liability regimes, ranging from pure limited to unlimited liability. Although the debate surrounding the US experience with double liability in banking is well documented, we know relatively little about the British experience of and debate about shareholder liability regimes in banking. Consequently, this article traces the development of views on shareholder liability regimes in nineteenth-century British banking. One of the main findings is that the chief argument for limited liability in British banking was based upon the perceived weaknesses of unlimited liability. In addition, it appears that much of the debate concentrated on the depositor-assuring viability of alternatives to unlimited liability.

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References (52)

Publisher
Cambridge University Press
Copyright
Copyright © European Association for Banking and Financial History e.V. 2009
ISSN
1474-0052
eISSN
0968-5650
DOI
10.1017/S0968565009990047
Publisher site
See Article on Publisher Site

Abstract

AbstractIn the nineteenth century, British banking had a complete spectrum of shareholder liability regimes, ranging from pure limited to unlimited liability. Although the debate surrounding the US experience with double liability in banking is well documented, we know relatively little about the British experience of and debate about shareholder liability regimes in banking. Consequently, this article traces the development of views on shareholder liability regimes in nineteenth-century British banking. One of the main findings is that the chief argument for limited liability in British banking was based upon the perceived weaknesses of unlimited liability. In addition, it appears that much of the debate concentrated on the depositor-assuring viability of alternatives to unlimited liability.

Journal

Financial History ReviewCambridge University Press

Published: Nov 1, 3

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