"232 Weekly return
Section 6 of the Bank Charter Act 1844 (Bank to produce weekly account) shall cease to have effect."
Section 6 of the Bank Charter Act 1844 (Bank to produce weekly accounts) requires
"That an Account of the Amount of Bank of England Notes issued by the Issue Department of the Bank of England, and of Gold Coin and of Gold and Silver Bullion respectively, and of Securities in the said Issue Department, and also an Account of the Capital Stock, and the Deposits, and of the Money and Securities belonging to the said Governor and Company in the Banking Department of the Bank of England, on some Day in every Week to be fixed by the Commissioners of Stamps and Taxes, shall be transmitted by the said Governor and Company weekly to the said Commissioners in the Form prescribed in the Schedule hereto annexed marked (A.), and shall be published...."
Now why would the Government want to stop the publishing of weekly accounts of how much money has been printed in any week? Can you imagine the smell of banknote printing presses running red-hot? Can you spell hyper-inflation? ZaNuLabour may be well described.
Thanks to Guido for the spot.
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