Stock Exchange, Bank of England, stock market, Bank, United Kingdom
Stockbrokers and investors seen here at the Stock Exchange in 1931 following the banking and stock market crisis in the USA and the vain attempt by the Bank of England in 1925 to return to the discipline of the gold standard which failed in 1931. The United Kingdom left the standard for good. The country's gold and foreign exchange reserves were transferred to the Treasury although their day-to-day management was and still is handled by the Bank. This meant that the note issue was no longer backed by gold.
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|Credit||Mirrorpix / GIW Photos|
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