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1818

Second Bank open, window still shut

In 1818 the Second Bank of the United States is already chartered. England has not yet passed Peel’s Act. Full gold payout is 1821.

Gold guinea of George III.
Guinea of George III, struck in 1777. A gold coin of the reign in which the Bank stopped paying gold. Not struck in the year of this page.CC0.

The Second Bank was chartered in 1816 for twenty years. It is operating. The fight over a new charter is still years away.

In England the Restriction continues. Peel’s Act of 1819 sets the path back to convertibility. Full payout of gold for Bank notes is 1821, not this year.

Bank of England →