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The Bank of England replenishes its gold reserves as American financial disruption effects Europe

Britain and British Affairs, iconic image
01/18/1861
The Bank of England, Britain's central bank, had recently seen large recent transfers of gold to the United States due to the current American financial panic over the political situation there.  Stress on the Bank was not helped by the £3,000,000 rush of British investors to take advantage of falling American stock prices. The relieve pressure on bullion, the Bank borrowed £1, 200,000 in gold from the Bank of Russia in exchange for a similar value in silver.  (By John Osborne)  
Source Citation: 
Chronicle, The Annual Register or a View of the History and Politics of the Year 1861 (London: F. & J. Rivington, 1862), 8. 

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How to Cite This Page: "The Bank of England replenishes its gold reserves as American financial disruption effects Europe," House Divided: The Civil War Research Engine at Dickinson College, http://hd.housedivided.dickinson.edu/node/34860.