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Industrial Lending by English Commercial Banks, 1860s–1914: Why Did Banks Refuse Loans?

Industrial Lending by English Commercial Banks, 1860s–1914: Why Did Banks Refuse Loans? English commercial banks have suffered severe criticism for their alleged failure to support industrial activity, to provide ‘industrial finance’. They are said to compare unfavourably with their European counterparts. In this article we explore this issue by examining how in the years before 1914 these banks treated loan applications from industrialists, specifically analysing the extent of refusals and the reasons given for refusals. The results confirm that the banks operated their lending business within general constraints imposed by the principles of prudent banking. However, it is also clear that the banks gave very careful consideration to all applicants, applied a set of reasonable criteria, and approved the great bulk of all applications for industrial lending. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Business History Taylor & Francis

Industrial Lending by English Commercial Banks, 1860s–1914: Why Did Banks Refuse Loans?

Business History , Volume 38 (1): 19 – Jan 1, 1996

Industrial Lending by English Commercial Banks, 1860s–1914: Why Did Banks Refuse Loans?

Business History , Volume 38 (1): 19 – Jan 1, 1996

Abstract

English commercial banks have suffered severe criticism for their alleged failure to support industrial activity, to provide ‘industrial finance’. They are said to compare unfavourably with their European counterparts. In this article we explore this issue by examining how in the years before 1914 these banks treated loan applications from industrialists, specifically analysing the extent of refusals and the reasons given for refusals. The results confirm that the banks operated their lending business within general constraints imposed by the principles of prudent banking. However, it is also clear that the banks gave very careful consideration to all applicants, applied a set of reasonable criteria, and approved the great bulk of all applications for industrial lending.

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Publisher
Taylor & Francis
Copyright
Copyright Taylor & Francis Group, LLC
ISSN
1743-7938
eISSN
0007-6791
DOI
10.1080/00076799600000002
Publisher site
See Article on Publisher Site

Abstract

English commercial banks have suffered severe criticism for their alleged failure to support industrial activity, to provide ‘industrial finance’. They are said to compare unfavourably with their European counterparts. In this article we explore this issue by examining how in the years before 1914 these banks treated loan applications from industrialists, specifically analysing the extent of refusals and the reasons given for refusals. The results confirm that the banks operated their lending business within general constraints imposed by the principles of prudent banking. However, it is also clear that the banks gave very careful consideration to all applicants, applied a set of reasonable criteria, and approved the great bulk of all applications for industrial lending.

Journal

Business HistoryTaylor & Francis

Published: Jan 1, 1996

There are no references for this article.