Commercial Banks and Industrial Finance in England and Wales, 1860-1913

Hardcover | September 23, 2004

byMichael Collins, Mae Baker

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In the decades before 1914, the City of London was the premier international financial centre. However, this position was not long maintained, other industrial nations quickly and effectively challenged the influence of Britain, and following the disruption of the world markets caused by WorldWar I and the Great Depression of the 1930s, international hegemony slipped away for ever.The relationship of bankers and industrialists has often been cited as a key factor in this decline. Critics of the banks claim that, even before World War I, there were serious deficiencies in the financial provision provided by banks to the domestic industrial sector, and that these deficiencieshandicapped Britain's competitive advantage in world markets, leading to the decline of their influence and power.This book examines these claims, and bringing to bear important new data that presents the debate in a novel and revealing framework, expounds an economic rationale for historical bank behaviour. Using a rich source of contemporary records, it presents a series of micro-economic studies intocommercial bank assets and liabilities, financial crises, bank mergers, the professionalization of banking, the organization and conduct of the industrial loan business, and the nature of bank support given to industrial clients.The result is a new, authoritative interpretation of bank-industry relations in the half-century before World War I.

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In the decades before 1914, the City of London was the premier international financial centre. However, this position was not long maintained, other industrial nations quickly and effectively challenged the influence of Britain, and following the disruption of the world markets caused by WorldWar I and the Great Depression of the 1930s...

Michael Collins is Professor of Financial History at the University of Leeds, and author of a number of books on the history of banking in the UK, and journal articles on different aspects of monetary history. Mae Baker is Senior Lecturer in Accounting and Finance at the University of Leeds. She is author of a number of journal articl...

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Format:HardcoverDimensions:308 pages, 9.21 × 6.14 × 0.83 inPublished:September 23, 2004Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199249865

ISBN - 13:9780199249862

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Table of Contents

1. The Relationship between Finance and Industry in Britain2. Comparative European Banking Developments3. Relationship Banking and Transaction Banking: Conceptual Issues4. Trends in Commercial Bank Liabilities5. The Impact of Financial Crises on Commercial Bank Behaviour6. Bank Mergers and the Impact on Asset Structures, 1860-19137. Contemporary Opinion on Bank Lending8. Professionalization, Organization, and Control9. The Nature of Commercial Banks' Industrial Loans10. Loan Refusals11. Business Clients' Financial Distress12. ConclusionAppendices