Conservative response to change: finance, administration and economy; Bank Charter Act
Under Robert Peel, the Conservatives reformed Britain's finances and economy in the 1840s. The Bank Charter Act of 1844 was their most significant single measure.
Real World
After a string of country bank collapses in the 1830s, the Bank Charter Act (1844) gave the Bank of England sole authority to issue banknotes backed by gold, ending the financial chaos caused by dozens of private banks printing their own currency.
Exam Focus
Link economic legislation to its political context — Peel's reforms were conservative in motive (stability) even when radical in effect.
Essay Framework
Use PEEL to structure every paragraph. Tap each step for guidance and an example.
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