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1. 1921 1969 column V less column VII Column VII 1870 1921 aggregate of Table III 6 columns I III V and VII 1921 1969 aggregate of Table Ill 7 columns III V and VII Column VIII 1870 1921 60 per cent of aggregate of Table III 6 columns IV VI and VIII 1921 1969 60 per cent of aggregate of Table Ill 7 columns II IV VI and VIII History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 table2id tab Table Il 1 UK Gross and Net Monthly data 1921 1982 I Gross bank deposits Column I 1870 1921 aggregate of Table Bank deposit data 1870 1982 Il Net bank deposits IlI 3 columns l VIII 1921 1982 aggregate III Gross demand deposits of Table III 4 columns III V and VII Data IV Demand deposits net of for April 1921 to March 1922 were adjusted 60 of items in transit to avoid double counting the National Bank V Gross time deposits Column Il 1870 1969 column less VI Time deposits net of inter columns VII and VIII Data for April 1921to bank deposits March 1922 were adjusted to avoid double VII Inter bank deposits counting the National Bank Column III VII 60 of items in transit 1921 1982 aggregate of Table III 4 columns Il IV VI and VIII Column IV 1921 1969 column III less column VIII Column V 1921 1982 column less column III Column VI 1921 1969 column V less column VII Column VII 1870 1921 aggregate of Table III 6 colum
2. 1979 1982 calculated from the outstanding BEQB Column Il 1870 1921 calculated IV Notes and coin in the from the Bank of England balance sheet Treasury note redemption account reproduced in the BM BA and The V English private banks notes Economist 1921 1945 calculated from the VI English joint stock banks BESS 1945 1975 calculated from the notes BESA 1975 1982 calculated from the VII Scottish banks notes BEQB Columns lli and IV 1914 1928 outstanding calculated from The Economist BM BBMR VIII Scottish banks authorized Columns V and VI 1870 1921 BM issue Columns VII and VIII 1870 1951 BM IX Scottish banks reserve 1951 1975 BESA 1975 1982 X Irish banks notes BEQB Column IX 1870 1951 BM 1951 outstanding 1982 the difference of column VII less XI Irish banks authorized issue column VIII Columns X and XI 1870 1962 XII Irish banks reserve BM 1962 1975 BESA 1975 1982 BEQB Column XII 1870 1962 BM 1962 1982 the diference of column X less column XI table3ic tab Table III 1 UK Coin and Monthly data 1870 1982 I Coin in circulation Column I 1870 1905 calculated as Bank notes 1870 1982 1000s I Bank of England notes outstanding IIl Treasury and currency notes outstanding IV Notes and coin in the described in Part Ill chapter 6 1905 1945 BESS 1945 1975 BESA 1975 1979 BEQB 1979 1982 calculated from the BEQB Column Il 1870 1921 calcula
3. Column I 1870 1981 available from the BM BA The Economist BESS BESA BEQB FS SA AAS etc and Mitchell and Deane 1962 Column Il 1923 1944 calculated from The Economist 1945 1974 BESA 1974 1982 FS Column Ill 1915 1944 The Economist 1945 1974 BESA Column IV 1960 1982 FS Columns V VII 1870 1944 The Economist 1945 1974 BESA 1974 1982 FS Column VIII 1870 1946 calculated from Consol prices from The Economist 1947 1959 AAS 1960 1982 FS table3xb tab Table III 10 UK Interest Rates 1870 1982 Quarterly average data 1870 1982 VI The rates for money at call do not form a continuous series from December 1944 to January 1945 The old series for 1870 1944 is available in The Economist until December 1946 although all the reported figures I Bank Rate and Minimum Lending Rate ll Treasury Bills Average Allotment Rate lll Treasury Bills Discount Rate IV Treasury Bills Yield V Prime Bank Bill Rate VI Money at Call VII Interest on Deposit Accounts Vill Yield on Consols Column I 1870 1981 available from the BM BA The Economist BESS BESA BEQB FS SA AAS etc and Mitchell and Deane 1962 Column II 1923 1944 calculated from The Economist 1945 1974 BESA 1974 1982 FS Column Ill 1915 1944 The Economist 1945 1974 BESA Column IV 1960 1982 FS Columns V VII 1870 1944 The Economist 1945 1974 BESA 1974 1982 FS Column
4. and XII notes issue tableZ2iic tab Table II 2 UK Public and Monthly data 1870 1982 I Notes and coin in circulation Column I 1870 1982 aggregate of Table Banks Holdings of Currency 1000s outside the Bank of England Ill 1 columns I Ill V VII and X less Table and Reserves 1870 1982 Il Currency in the hands of the III 2 column V Column Il 1870 1982 public column I less columns VI and VII Column III Banks cash and balances at Ill 1870 1921 Table III 8 columns I VII the Bank of England 1921 1982 Table III 9 columns I IV Data IV Banks reserves till money for April 1921 to March 1922 were adjusted and balances at the Bank of to avoid double counting the National Bank England Column IV 1870 1982 column III less V Banks total cash till money column VII Column V 1870 1982 column and reserve for the note IV less Table III 2 column I Column VI issue 1870 1982 column V less column VII VI Banks till money Column VII 1870 1921 aggregate of Vil Banks reserves for the Table Ill 1 columns V VI IX and XII notes issue table3ia tab Table Ill 1 UK Coin and Annual average data 1870 1982 I Coin in circulation Column I 1870 1905 calculated as Bank notes 1870 1982 1000s Bank of England notes outstanding Treasury and currency notes outstanding IV Notes and coin in the Treasury note redemption account V VI English private banks
5. column VI Column VII 1963 1982 Table 1 6 Column VII divided by the aggregate of columns II and VI The velocity data are annualised table 1viiib tab Table 8 End quarter and Monthly data 1971 1983 I M3 multiplier Column I 1963 1981 The sum of 1 000 Monthly M3 Multiplier Il Currency in the hands of the and column Il divided by the aggregate of Determinants and Velocity public total deposits columns Il and VI This is the expression for 1963 1983 III Sight deposits total deposits the M3 multiplier described in equation 8 in IV Time deposits total deposits Part I Column Il 1963 1983 Table 1 6 V Other deposits total deposits Column II divided by column VI Column III VI Bank reserves total deposits 1963 1983 Table 1 6 Column III divided VII M3 velocity by column VI Column IV 1963 1983 Table 1 6 Column IV divided by column VI Column V 1963 1983 Table 1 6 Column V divided by column VI Column VI 1963 1981 Table 1 6 Column VII divided by column VI Column VII 1963 1982 Table 1 6 Column VII divided by the aggregate of columns II and VI The velocity data are annualised History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 tabletixa tab Table 9 GNP M1 M3 and Velocity Measures for M1 and M3 1870 1980 Annual data 1870 1980 Gross National Product m Money supply M1 m Money supply M3 m Column I 187
6. lll Non Clearing Banks Inter Bank Deposits IV Non Clearing Banks Items in Transit V Scottish Banks Inter Bank Deposits VI Scottish Banks Items in Transit VII Irish Banks Inter Bank Deposits VIII Irish Banks Items in Transit Columns l VIII 1921 1969 calculated as described in Part Ill chapter using for each banking group weighted averages of ratios from individual banks balance sheets of inter bank deposits and items in transit total deposits inter bank deposits total deposits and items in transit total deposits and the total deposit series for each banking group from Table lll 4 The bank balance sheet data was supplemented with figures for the London clearing banks from their monthly statements for 1921 1969 and for the Scottish and Irish banks from the BESA for 1951 1969 table3xa tab Table Ill 10 UK Interest Rates 1870 1982 Annual average data 1870 1982 VI The rates for money at call do not form a continuous series from December 1944 to January 1945 The old series for 1870 1944 is available in The Economist until December 1946 although all the reported figures for 1945 and 1946 are 0 500 per cent Vill See also Table 13 1 I Bank Rate and Minimum Lending Rate ll Treasury Bills Average Allotment Rate lll Treasury Bills Discount Rate IV Treasury Bills Yield V Prime Bank Bill Rate VI Money at Call VII Interest on Deposit Accounts VIII Yield on Consols
7. m Il M3 Money stock data 1971 1983 III M3 M1 IV Notes and coins in the Oct 1971 Jun 1972 columns hands of the public IV V X V UK private sector sterling Jul 1972 Jan 1975 columns deposits bank sight IV V VI X deposits Jan 1975 Feb 1983 columns VI UK private sector sterling IV V VI deposits bank time deposits M3 VII UK private sector sterling Jun 1971 Jun 1972 deposits discount houses M1 columns VI VII IX VIII UK private sector deposits Jul 1972 Feb 1982 in other currencies M1 columns VII IX IX UK public sector deposits X 60 of items in transit M3 XI Overseas sterling deposits Jun 1971 Feb 1982 in banks M3 column VIII table1vb tab Table 5 Bank of England Monthly data July 1972 May I M1 From BEQB Money Stock Tables Monthly Money supply and 1975 m Il M3 Money stock data 1971 1983 III M3 In January 1975 the series for IV Notes and coins in the sight deposits was adjusted to hands of the public exclude 60 percent of items in V UK private sector sterling transit deposits bank sight deposits M1 VI UK private sector sterling Oct 1971 Jun 1972 columns deposits bank time IV V X deposits Jul 1972 Jan 1975 columns VII UK private sector deposits IV V VI X in other currencies Jan 1975 Feb 1983 columns VIII UK public sector deposits IV V VI IX 60 of items in transit X Overseas sterling deposits M3 Jun 1971 Jun 1972 in
8. Banking VI Banks till money Column VII 1870 1921 aggregate of Department of the Bank of VII Banks reserves for the Table III 1 columns V VI IX and XII England notes issue History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 table2iib tab Table Il 2 UK Public and Quarterly average data 1870 I Notes and coin in circulation Column I 1870 1982 aggregate of Table Banks Holdings of Currency 1982 1000s outside the Bank of England Ill 1 columns I III V VII and X less Table and Reserves 1870 1982 Il Currency in the hands of the III 2 column V Column Il 1870 1982 Columns III VI Excludes notes public column less columns VI and VII Column and coin in the Banking Hl Banks cash and balances at Ill 1870 1921 Table III 8 columns I VII Department of the Bank of the Bank of England 1921 1982 Table III 9 columns I IV Data England IV Banks reserves till money for April 1921 to March 1922 were adjusted and balances at the Bank of to avoid double counting the National Bank England Column IV 1870 1982 column III less V Banks total cash till money column VII Column V 1870 1982 column and reserve for the note IV less Table III 2 column Column VI issue 1870 1982 column V less column VII VI Banks till money Column VII 1870 1921 aggregate of Vil Banks reserves for the Table Ill 1 columns V VI IX
9. Cost of Living Index 1914 1982 Annual average data 1914 1982 Jan 1974 100 1914 1947 Annual Reports of the Ministry of Labour and the BESS 1947 1982 MDS table3xib tab Table Ill 11 Retail Price and Quarterly average data 1914 1914 1947 Annual Reports of the Ministry Working Class Cost of Living 1982 Jan 1974 100 of Labour and the BESS 1947 1982 Index 1914 1982 MDS table3xic tab Table Ill 11 Retail Price and Monthly data 1914 1982 Jan 1914 1947 Annual Reports of the Ministry Working Class Cost of Living 1974 100 of Labour and the BESS 1947 1982 Index 1914 1982 MDS table3xii tab Table III 12 Gross National Annual data 1870 1980 I Gross National Product m Column I 1870 1955 Feinstein 1971 Product Net National Product ll Gross National Product at Factor Table 1 pp T4 7 1955 1980 AAS using Gross National Product Cost m the most recent data available for each year Deflator and Retail Prices Ill Gross National Product Deflator Column II 1870 1965 Feinstein 1971 1870 1980 1913 100 Table 3 pp T10 11 Column Ill 1870 IV Retail Price Index 1913 100 1965 calculated from columns II and Feinstein 1971 Table 7 column 7 pp T21 22 Column IV 1870 1965 Feinstein 1971 Table 65 pp T140 141 append4 tab Appendix IV UK Banking Half yearly data 1870 1920 I London Joint Stock Banks Bankers Magazine 1870 1921 Sector Number of Banks and Number o
10. III 8 UK Banks Inter Bank Deposits and items in transit etc 1870 1921 Annual average data 1870 1921 1000s I English and Welsh Banks London Provincial Joint Stock Banks Inter Bank Deposits ll English and Welsh Banks Provincial Joint Stock Banks Inter Bank Deposits Ill English and Welsh Banks Provincial Private Banks Inter Bank Deposits IV English and Welsh Banks English and Welsh Banks Cheques and Notes in Transit and Collection V Scottish Banks Inter Bank Deposits VI Scottish Banks Cheques and Notes in Transit and Collection VII Irish Banks Inter Bank Deposits VIII Irish Banks Cheques and Notes in Transit and Collection Columns l VII 1870 1921 calculated as described in Part Ill chapter 7 using data for balances of certain banks with Glyn Mills during 1883 and 1907 published in Goodhart 1971 pp 551 6 table3viiib tab Table III 8 UK Banks Inter Bank Deposits and items in transit etc 1870 1921 Half yearly data 1870 1921 1000s I English and Welsh Banks London Provincial Joint Stock Banks Inter Bank Deposits ll English and Welsh Banks Provincial Joint Stock Banks Inter Bank Deposits Ill English and Welsh Banks Provincial Private Banks Inter Bank Deposits Columns l VII 1870 1921 calculated as described in Part Ill chapter 7 using data for balances of certain banks with Glyn Mills during 1883 and 1907 published in G
11. Table 1 6 column deposits IV divided by column III Column IV 1963 VI Total deposits sight deposits 1983 Table 1 6 column V divided by VII M1 velocity column III Column V 1963 1983 Table History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 1 6 aggregate of columns III and IV divided by column III Column VI 1963 1983 Table 1 6 column VI divided by column III Column VII 1963 1982 Table 1 6 column VIII divided by the aggregate of columns II and Ill The results were then annualised table1viiia tab Table 8 End quarter and Monthly M3 Multiplier Determinants and Velocity 1963 1983 End of quarter data 1963 1982 M3 multiplier Currency in the hands of the public total deposits Sight deposits total deposits Column I 1963 1981 The sum of 1 000 and column Il divided by the aggregate of columns II and VI This is the expression for the M3 multiplier described in equation 8 in IV Time deposits total deposits Part I Column Il 1963 1983 Table 1 6 V Other deposits total deposits Column II divided by column VI Column Ill VI Bank reserves total deposits 1963 1983 Table 1 6 Column III divided VII M3 velocity by column VI Column IV 1963 1983 Table 1 6 Column IV divided by column VI Column V 1963 1983 Table 1 6 Column V divided by column VI Column VI 1963 1981 Table 1 6 Column VII divided by
12. VIII History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 for 1945 and 1946 are 0 500 per cent VIII See also Table 13 1 1870 1946 calculated from Consol prices from The Economist 1947 1959 AAS 1960 1982 FS table3xc tab Table III 10 UK Interest Rates 1870 1982 End Month data 1870 1982 VI The rates for money at call do not form a continuous series from December 1944 to January 1945 The old series for 1870 1944 is available in The Economist until December 1946 although all the reported figures for 1945 and 1946 are 0 500 per cent Vill See also Table 13 1 I Bank Rate and Minimum Lending Rate ll Treasury Bills Average Allotment Rate lll Treasury Bills Discount Rate IV Treasury Bills Yield V Prime Bank Bill Rate VI Money at Call VII Interest on Deposit Accounts VIII Yield on Consols Column I 1870 1981 available from the BM BA The Economist BESS BESA BEQB FS SA AAS etc and Mitchell and Deane 1962 Column Il 1923 1944 calculated from The Economist 1945 1974 BESA 1974 1982 FS Column Ill 1915 1944 The Economist 1945 1974 BESA Column IV 1960 1982 FS Columns V VII 1870 1944 The Economist 1945 1974 BESA 1974 1982 FS Column VIII 1870 1946 calculated from Consol prices from The Economist 1947 1959 AAS 1960 1982 FS table3xia tab Table Ill 11 Retail Price and Working Class
13. all Irish banks interpolated with the deposits of all English banks 1922 April 1951 average of the aggregate of deposits of all Irish banks operating in both the UK and the Irish Free State multiplied by 0 4 and the aggregate of the deposits of the three Northern Irish banks only Belfast Bank Northern Bank and the Ulster Bank interpolated with the deposits of all English banks 1951 1975 BESA 1975 1982 BEQB Column VIII 1921 1951 calculated from column VII using the ratio of current to total deposits in England and Wales adjusted using the ratio for Northern Ireland in 1951 to allow for the relatively lower holdings of current accounts to total deposits in Ireland 1951 1975 BESA 1975 1982 BEQB table3ivb tab Table Ill 4 UK Banks total Quarterly average data 1921 I London clearing banks total Column I 1922 1926 BM 1923 1945 deposits and Current 1982 1000s deposits BESS 1945 1951 MDS 1951 1972 Accounts 1921 1982 Il London clearing banks BESA 1972 1975 BESA 1975 1982 current accounts BEQB Column Il 1921 1931 MacMillan III Non clearing banks total Report Appendix 1931 April June History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 VI VII VIII deposits Non clearing banks current accounts Scottish banks total deposits Scottish banks current accounts Irish banks total deposits Ir
14. banks History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 M1 columns VI VII IX Jul 1972 Feb 1982 M1 columns VII IX M3 Jun 1971 Feb 1982 M3 column VIII table1vc tab Table 5 Bank of England Monthly Money supply and Money stock data 1971 1983 Monthly data June 1975 Feb 1983 m M1 M3 M3 From BEQB Money Stock Tables M1 IV Notes and coins in the Oct 1971 Jun 1972 columns hands of the public IV V X V UK private sector sterling Jul 1972 Jan 1975 columns deposits bank sight IV V VI X deposits non interest Jan 1975 Feb 1983 columns bearing IV V VI VI UK private sector sterling deposits bank sight M3 deposits interest bearing Jun 1971 Jun 1972 VII UK private sector sterling M1 columns VI VII IX deposits time deposits Jul 1972 Feb 1982 VIII UK private sector deposits M1 columns VII IX in other currencies IX UK public sector deposits M3 X 60 of items in transit Jun 1971 Feb 1982 XI Overseas sterling deposits M3 column VIII in banks table1via tab Table 6 End Quarter and End quarter data 1963 1982 I Money base Column I 1963 1981 aggregate of Monthly Money Base and m Il Notes and coins in the columns II and VII Column II 1963 1983 Money supply components hands of the public Tables 1 4 and 1 5 columns IV Column III 1963 1983 III Sight deposits 1963 1983 Tables 1 4 and 1 5 c
15. time by Table II 1 column IV Column VII deposits net sight deposits 1921 1969 Table II 1 columns IV plus VI VII Net total deposits net sight and Table III 2 column IV divided by Table deposits Il 1 column IV table iiia tab Table I 3 M3 M3 Multiplier Annual average data 1871 1969 I M3 1000s Column I 1870 1969 Table II 1 column II and Money supply Il M3 multiplier plus Table II 2 column I plus Table III 2 determinants 1870 1969 Net total deposits are the III Currency in the hands column IV Column Il 1870 1969 column aggregate of net sight deposits of the public net total divided by Table 1 Column Ill 1870 net time deposits and other deposits 1969 Table II 2 column II qq the deposits at the Bank of England IV Net sight deposits net aggregate of Table II 1 column II and Table total deposits I 2 column IV Column IV 1870 1969 V Net time deposits net total Table II 1 column IV qq the aggregate of deposits Table II 1 column II and Table III 2 VI Other deposits at the Bank column IV Column V 1870 1969 Table of England net total deposits III 2 column IV qq the aggregate of Table VII Banks reserves and Il 1 column Il and Table III 2 column IV currency in the banking Column VI 1870 1969 Table III 2 column department net total IV qq the aggregate of Table II 1 column II deposits and Table III 2 column IV Column VII 1870 1969 aggregate of Table II 2 column IV and Tabl
16. 0 1982 Table Ill 11 column I Column Il 1922 1969 Table 2 column I Column Ill 1871 1969 Table 1 3 column IV Velocity M1 I Column IV 1922 1969 column divided V Velocity M3 by column II Column V 1871 1969 column divided by column III table1ixb tab Table 9 GNP M1 M3 and Quarterly data 1963 1969 I Gross National Product m Column I 1870 1982 Table III 11 column Velocity Measures for M1 and Il Money supply M1 m l Column Il 1922 1969 Table 1 2 column M3 1870 1980 Note that the quarterly velocity III Money supply M3 m l Column Ill 1871 1969 Table 1 3 column figures are annualized IV Velocity M1 l Column IV 1922 1969 column divided V Velocity M3 by column II Column V 1871 1969 column divided by column III table2ia tab Table Il 1 UK Gross and Net Annual average data 1871 1982 I Gross bank deposits Column I 1870 1921 aggregate of Table Bank deposit data 1870 1982 Il Net bank deposits Ill 3 columns l VIII 1921 1982 aggregate III Gross demand deposits of Table III 4 columns Ill V and VII Data IV Demand deposits net of for April 1921 to March 1922 were adjusted 60 of items in transit to avoid double counting the National Bank V Gross time deposits Column Il 1870 1969 column I less VI Time deposits net of inter columns VII and VIII Data for April 1921to bank deposits March 1922 were adjusted to avoid double VII Inter bank deposits co
17. 82 VI Scottish banks current BEQB Column Ill 1921 1969 aggregate of accounts individual balance sheets interpolated with VII Irish banks total deposits London clearering banks total deposits VIII Irish banks current accounts column I 1970 1975 BESA 1975 1982 BEQB Note that there is a break in the series in May 1975 Column IV 1921 1975 calculated from columns l Ill using the same ratio of current accounts to total deposits as that for the London clearing banks 1975 1982 BEQB Note that there is a break in the series in May 1975 Column V 1921 1930 aggregate of individual banks balance sheet data interpolated with the sum of six Scottish banks current and History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 deposit accounts from the MacMillan Report Appendix II 1930 1951 aggregate of balance sheet data interpolated with the sum of columns and Il all English banks deposits 1951 1975 BESA 1975 1982 BEQB Column VI 1921 1930 calculated from the adjusted ratio of current to total deposits obtained from the MacMillan Report data applied to column V 1930 1951 calculated from column V and the ratio of current to total deposits of the English banks adjusted to be compatible with the Scottish ratios for 1930 and 1951 1951 1975 BESA 1975 1982 BEQB Column VII 1921 1922 March aggregate of individual balance sheet deposit data for
18. History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 User Guide This document has been created by the History Data Service and is based on information supplied by the depositor No documentation was deposited with this Study The following publication fully describes the data sources and methodology Capie F and Webber A Monetary History of the United Kingdom 1870 1970 Allen amp Unwin London 1985 History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 File Rennes _ Notes _ Fields _ Sources table1ia tab Table 1 Money Base High Annual averages 1870 1982 mb Money Base 1870 1982 aggregate of Table II 2 Powered Money 1870 1982 1000s columns and Table III 2 columns and V less Table II 2 column VII table1ib tab Table 1 Money Base High Annual averages of half yearly mb Money Base 1870 1982 aggregate of Table II 2 Powered Money 1870 1982 data June and December columns and Table III 2 columns 1871 1921 1000s and V less Table II 2 column VII table ic tab Table 1 Money Base High Quarterly averages 1870 1982 mb Money Base 1870 1982 aggregate of Table II 2 Powered Money 1870 1982 1000s columns and Table III 2 columns and V less Table II 2 column VII table 1id tab Table 1 Money Base High Monthly data 1870 1982 mb Money Base 1870 1982 aggregate of Table II 2 P
19. QB Column IV 1921 1922 March aggregate of all Irish banks balance sheet data for cash and Balances interpolated with column I 1922 April 1935 aggregate of balance sheet figures for the Belfast Northern and Ulster banks for cash balances at the Bank of England and other banks and cheques in collection less an adjustment for inter bank balances and cheques interpolated with the sum of columns and Il 1935 1951 BESS data for total notes and coin held by the Northern Irish banks plus an allowance for their balances at the Bank of England 1951 1975 BESA 1975 1982 BEQB table3viib tab Table Ill 7 UK Banks total Quarterly average data 1921 I London clearing banks Column I 1921 1923 BM 1923 1945 Cash Till Money and Note 1982 1000s Il Non clearing banks BESS 1945 1951 MDS 1951 1975 Issue Reserves and Balances Hl Scottish banks BESA 1975 1982 BEQB Column Il at the Bank of England 1921 lll and IV Includes reserves for IV Irish banks 1921 1969 aggregate of balance sheet 1982 the note issue as well as till data for cash and balances at the Bank of money and bankers balances England with adjustments for certain banks interpolated with column I 1970 1975 BESA 1975 1982 BEQB Column Ill 1921 1951 aggregate of balance sheet data for cash balances at the Bank of England and balances with other banks adjusted for balances with other banks The figures for cash and balances at the Ban
20. Table 4 Bank of England Quarterly data m 1963 1969 I M1 From BEQB Money Stock Tables End Quarter Money supply Il M3 and Money stock data 1963 M1 III M3 1982 Mar 1963 Dec 1969 columns IV Notes and coins in the IV V X hands of the public Mar 1970 Mar 1972 columns V UK private sector sterling IV V VI X deposits bank sight Mar 1972 Dec 1982 columns deposits IV V VI VI UK private sector sterling deposits bank time M3 deposits Mar 1963 Dec 1969 VII UK private sector sterling M1 columns VI VII IX deposits discount houses Mar 1970 Dec 1982 VIII UK private sector deposits M1 columns VII IX in other currencies IX UK public sector deposits M3 X 60 of items in transit Mar 1963 Dec 1982 XI Overseas sterling deposits M3 column VIII in banks tabletivb tab Table 4 Bank of England Quarterly data m 1970 March I M1 From BEQB Money Stock Tables End Quarter Money supply 1975 Il M3 and Money stock data 1963 III M3 1982 In March 1972 the series for IV Notes and coins in the sight deposits was adjusted to hands of the public History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 exclude 60 percent of items in V UK private sector sterling transit deposits bank sight deposits M1 VI UK private sector sterling Mar 1963 Dec 1969 columns deposits bank time IV V X deposits Mar 1970 M
21. V and Table III 2 column V divided by the aggregate of Table II 1 column II and Table III 2 column IV table iiic tab Table 3 M3 M3 Multiplier Half yearly data 1870 1921 I M3 1000s Column I 1870 1969 Table II 1 column II and Money supply Il M3 multiplier plus Table II 2 column I plus Table III 2 determinants 1870 1969 Net total deposits are the III Currency in the hands column IV Column Il 1870 1969 column aggregate of net sight deposits of the public net total divided by Table 1 Column Ill 1870 net time deposits and other deposits 1969 Table II 2 column II qq the deposits at the Bank of England IV Net sight deposits net aggregate of Table II 1 column II and Table total deposits Il 2 column IV Column IV 1870 1969 V Net time deposits net total Table II 1 column IV qq the aggregate of deposits Table II 1 column II and Table III 2 VI Other deposits at the Bank column IV Column V 1870 1969 Table of England net total deposits IlI 2 column IV qq the aggregate of Table VII Banks reserves and Il 1 column Il and Table III 2 column IV currency in the banking Column VI 1870 1969 Table III 2 column department net total IV qq the aggregate of Table II 1 column II deposits and Table III 2 column IV Column VII 1870 1969 aggregate of Table II 2 column IV and Table III 2 column V divided by the aggregate of Table II 1 column Il and Table III 2 column IV table iiid ta
22. ar 1972 columns VII UK private sector deposits IV V VI X in other currencies Mar 1972 Dec 1982 columns VIII UK public sector deposits IV V VI IX 60 of items in transit X Overseas sterling deposits M3 in banks Mar 1963 Dec 1969 M1 columns VI VII IX Mar 1970 Dec 1982 M1 columns VII IX M3 Mar 1963 Dec 1982 M3 column VIII table1ivc tab Table 4 Bank of England Quarterly data m June 1975 I M1 From BEQB Money Stock Tables End Quarter Money supply 1982 Il M3 and Money stock data 1963 III M3 1982 M1 IV Notes and coins in the Mar 1963 Dec 1969 columns hands of the public IV V X V UK private sector sterling Mar 1970 Mar 1972 columns deposits bank sight IV V VI X deposits non interest Mar 1972 Dec 1982 columns bearing IV V VI VI UK private sector sterling deposits bank sight M3 deposits interest bearing Mar 1963 Dec 1969 VII UK private sector sterling M1 columns VI VII IX deposits time deposits Mar 1970 Dec 1982 VIII UK private sector deposits M1 columns VII IX in other currencies IX UK public sector deposits M3 X 60 of items in transit Mar 1963 Dec 1982 XI Overseas sterling deposits History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 M3 column VIII in banks table1va tab Table 5 Bank of England Monthly data June 1971 June I M1 From BEQB Money Stock Tables Monthly Money supply and 1972
23. b Table 3 M3 M3 Multiplier Monthly data 1921 1969 I M3 1000s Column I 1870 1969 Table II 1 column II and Money supply determinants 1870 1969 Net total deposits are the aggregate of net sight deposits M3 multiplier Currency in the hands of the public net total plus Table II 2 column plus Table III 2 column IV Column Il 1870 1969 column divided by Table 1 Column Ill 1870 History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 net time deposits and other deposits 1969 Table II 2 column II qq the deposits at the Bank of England IV Net sight deposits net aggregate of Table II 1 column II and Table total deposits Il 2 column IV Column IV 1870 1969 V Net time deposits net total Table II 1 column IV qq the aggregate of deposits Table II 1 column II and Table III 2 VI Other deposits at the Bank column IV Column V 1870 1969 Table of England net total deposits III 2 column IV qq the aggregate of Table VII Banks reserves and Il 1 column Il and Table III 2 column IV currency in the banking Column VI 1870 1969 Table III 2 column department net total IV qq the aggregate of Table II 1 column II deposits and Table III 2 column IV Column VII 1870 1969 aggregate of Table II 2 column IV and Table III 2 column V divided by the aggregate of Table II 1 column Il and Table III 2 column IV tabletiva tab
24. e III 2 column V divided by the aggregate of Table II 1 column Il and Table III 2 column IV table iiib tab Table 3 M3 M3 Multiplier Quarterly averages 1922 1969 I M3 1000s Column I 1870 1969 Table II 1 column II and Money supply determinants 1870 1969 Net total deposits are the M3 multiplier Currency in the hands plus Table II 2 column plus Table III 2 column IV Column Il 1870 1969 column History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 aggregate of net sight deposits of the public net total divided by Table I 1 Column Ill 1870 net time deposits and other deposits 1969 Table II 2 column II qq the deposits at the Bank of England IV Net sight deposits net aggregate of Table II 1 column II and Table total deposits I 2 column IV Column IV 1870 1969 V Net time deposits net total Table II 1 column IV qq the aggregate of deposits Table II 1 column II and Table III 2 VI Other deposits at the Bank column IV Column V 1870 1969 Table of England net total deposits IlI 2 column IV qq the aggregate of Table VII Banks reserves and Il 1 column Il and Table III 2 column IV currency in the banking Column VI 1870 1969 Table III 2 column department net total IV qq the aggregate of Table II 1 column II deposits and Table III 2 column IV Column VII 1870 1969 aggregate of Table II 2 column I
25. er Il Currency in the hands of the divided by column II Table 1 8 column Determinants and Velocity public sight deposits VII multiplied by column VI This is the M1 1963 1983 IiI Time deposits sight deposits multiplier as represented by equation 9 in IV Other deposits sight Part Column II 1963 1983 Table 1 6 deposits column II divided by column III V Sight and time deposits sight Column III 1963 1983 Table 1 6 column deposits IV divided by column III Column IV 1963 VI Total deposits sight deposits 1983 Table 1 6 column V divided by VII M1 velocity column III Column V 1963 1983 Table 1 6 aggregate of columns III and IV divided by column III Column VI 1963 1983 Table 1 6 column VI divided by column III Column VII 1963 1982 Table 1 6 column VIII divided by the aggregate of columns II and Ill The results were then annualised table 1viib tab Table 7 End quarter and Monthly data 1971 1983 I M1 multiplier Column I 1963 1981 column II 1 000 Monthly M1 Multiplier I Currency in the hands of the divided by column II Table 1 8 column Determinants and Velocity public sight deposits VII multiplied by column VI This is the M1 1963 1983 Hl Time deposits sight deposits multiplier as represented by equation 9 in IV Other deposits sight Part Column II 1963 1983 Table 1 6 deposits column II divided by column III V Sight and time deposits sight Column III 1963 1983
26. es have included sizeable assets V Reserves of notes and coin at Head Office and the branches Appendix and liabilities denominated in to the June 1967 BEQB 1939 1945 BESS foreign currency held in and BM 1945 1975 BESA 1975 1982 connection with arrangements BEQB entered into on 20 January 1981 Column II 1960 1975 BESA and BEQB between the Banque Centrale 1975 1982 BEQB Column Ill 1870 1922 d Algerie the Federal Reserve BA 1922 1939 BESS 1939 1946 BA Bank of New York and the Bank 1946 1975 BESA 1975 1982 BEQB of England as part of the Column IV 1870 1928 calculated from payment negotiated between the data for other deposits which included United States and Iran for the bankers deposits in the period 1870 1928 release of diplomatic personnel derived from the sources given for column from the American embassy in Ill less bankers balances as given in Teheran column I 1928 1982 same sources as for column III Column V 1870 1982 same sources as for column III table3iib tab Table Ill 2 Bank of England Quarterly average data 1870 I Bankers balances Column I 1870 1910 calculated from data Banking department Balance Sheet data 1870 1982 1982 1000s Reserves and Other Accounts Il Special deposits III Public sector deposits IV Other deposits for balances at Head Office only available in a separate appendix to the June 1967 BEQB 1910 1939 aggregate of balances Hi
27. f Branches 1870 1920 It should be noted that banks may join and leave a banking group as a result of the founding Il London Joint Stock Banks Branches Ill London Private Banks IV London Private Banks Branches History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 of new banks a change from a private to a joint stock company amalgamation or failure This will explain why at times although the number of banks in a group may be constant there may be an upward or downward movement in the number of branches further than might be expected by the opening of new or the closing of old branches In this case there will have been a change in the banks forming the group V London Ephemeral Banks VI London Ephemeral Banks Branches VII London Provincial Joint Stock Banks Vill London Provincial Joint Stock Banks Branches IX Provincial Joint Stock Banks X Provincial Joint Stock Banks Branches XI Provincial Private Banks XII Provincial Private Banks Branches XIII Scottish Banks XIV Scottish Banks Branches XV Irish Banks XVI Irish Banks Branches XVII United Kingdom Banks XVIII United Kingdom Banks Branches append5d tab Appendix V Certain Assets and Liabilities of the National Bank April 1921 to March 1922 1000s I Total deposits ll Current accounts lll Cash balances Bank of England IV Inter bank deposits transit ite
28. in the UK 1951 1982 Monthly data 1951 1982 1000s 1951 1962 calculated from BESA 1962 1975 BESA 1975 1982 BEQB table3via tab Table III 6 UK Banking Groups total Cash Till Money and Note issue reserves and balances at the Bank of Annual average data 1871 1921 1000s London joint stock banks London private banks London provincial joint stock banks Columns l VII 1870 1921 calculated as described in Part Ill chapter 6 using selected balance sheets for individual banks and the MacMillan Report Appendices and England 1870 1921 IV Provincial joint stock banks ll for the London clearing and the Scottish V Provincial private banks banks for 1919 1921 The provincial joint VI Scottish Banks stock provincial private Scottish and Irish VII Irish banks banks figures include notes and coin held as reserve for their note issues table3vib tab Table III 6 UK Banking Half yearly data 1870 1921 I London joint stock banks Columns l VII 1870 1921 calculated as Groups total Cash Till Money 1000s Il London private banks described in Part Ill chapter 6 using and Note issue reserves and III London provincial joint stock selected balance sheets for individual banks balances at the Bank of banks and the MacMillan Report Appendices and England 1870 1921 IV Provincial joint stock banks ll for the London clearing and the Scottish V Provincial private banks banks for 1919 1921 The
29. ingdom 1870 1970 IV London provincial joint stock secondary and archive sources as described banks in Part Ill chapter 5 1 V Provincial joint stock banks VI Provincial private banks VII Scottish banks VIII Irish banks table3iiib tab Table IlI 3 UK Banking Half yearly data data 1870 1921 E London joint stock banks Columns l VIII 1870 1921 calculated from Groups Total Deposits 1870 1000s I London private banks individual bank balance sheets from 1921 III London ephemeral banks The Economist BM BA and other IV London provincial joint stock secondary and archive sources as described banks in Part IIl chapter 5 1 V Provincial joint stock banks VI Provincial private banks VII Scottish banks VIII Irish banks table3iva tab Table III 4 UK Banks total Annual average data 1921 1982 I London clearing banks total Column I 1922 1926 BM 1923 1945 deposits and Current 1000s deposits BESS 1945 1951 MDS 1951 1972 Accounts 1921 1982 Il London clearing banks BESA 1972 1975 BESA 1975 1982 current accounts BEQB Column Il 1921 1931 MacMillan IIl Non clearing banks total Report Appendix 1931 April June deposits interpolated with column I 1931 1945 IV Non clearing banks current BESS 1945 1951 MDS 1951 1971 accounts BESA 1971 1975 interpolated with data V Scottish banks total for UK Private Sector Sterling Current deposits Accounts from the BESA 1975 19
30. ish banks current accounts interpolated with column I 1931 1945 BESS 1945 1951 MDS 1951 1971 BESA 1971 1975 interpolated with data for UK Private Sector Sterling Current Accounts from the BESA 1975 1982 BEQB Column Ill 1921 1969 aggregate of individual balance sheets interpolated with London clearering banks total deposits column I 1970 1975 BESA 1975 1982 BEQB Note that there is a break in the series in May 1975 Column IV 1921 1975 calculated from columns I III using the same ratio of current accounts to total deposits as that for the London clearing banks 1975 1982 BEQB Note that there is a break in the series in May 1975 Column V 1921 1930 aggregate of individual banks balance sheet data interpolated with the sum of six Scottish banks current and deposit accounts from the MacMillan Report Appendix II 1930 1951 aggregate of balance sheet data interpolated with the sum of columns and Il all English banks deposits 1951 1975 BESA 1975 1982 BEQB Column VI 1921 1930 calculated from the adjusted ratio of current to total deposits obtained from the MacMillan Report data applied to column V 1930 1951 calculated from column V and the ratio of current to total deposits of the English banks adjusted to be compatible with the Scottish ratios for 1930 and 1951 1951 1975 BESA 1975 1982 BEQB Column VII 1921 1922 March aggregate of individual balance sheet deposit data fo
31. issue as well as till data for cash and balances at the Bank of money and bankers balances England with adjustments for certain banks interpolated with column I 1970 1975 BESA 1975 1982 BEQB Column Ill 1921 1951 aggregate of balance sheet data for cash balances at the Bank of England and balances with other banks adjusted for balances with other banks The figures for cash and balances at the Bank of England were interpolated with the MacMillan Report data for cash and balances at the Bank for 1921 1931 with the Scottish banks note issue reserves for 1931 1935 and with data for Scottish banks total holdings of cash for 1935 1951 available from the BESS and MDS 1951 1975 BESA 1975 1982 BEQB Column IV 1921 1922 March aggregate of all Irish banks balance sheet data for cash and Balances interpolated with column I 1922 History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 April 1935 aggregate of balance sheet figures for the Belfast Northern and Ulster banks for cash balances at the Bank of England and other banks and cheques in collection less an adjustment for inter bank balances and cheques interpolated with the sum of columns and Il 1935 1951 BESS data for total notes and coin held by the Northern Irish banks plus an allowance for their balances at the Bank of England 1951 1975 BESA 1975 1982 BEQB table3viiia tab Table
32. k of England were interpolated with the MacMillan Report data for cash and balances at the Bank for 1921 1931 with the Scottish banks note issue reserves for 1931 1935 and with data for Scottish banks total holdings of cash for 1935 1951 available from the BESS and MDS 1951 History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 1975 BESA 1975 1982 BEQB Column IV 1921 1922 March aggregate of all Irish banks balance sheet data for cash and Balances interpolated with column I 1922 April 1935 aggregate of balance sheet figures for the Belfast Northern and Ulster banks for cash balances at the Bank of England and other banks and cheques in collection less an adjustment for inter bank balances and cheques interpolated with the sum of columns and Il 1935 1951 BESS data for total notes and coin held by the Northern Irish banks plus an allowance for their balances at the Bank of England 1951 1975 BESA 1975 1982 BEQB table3viic tab Table Ill 7 UK Banks total Monthly data 1921 1982 I London clearing banks Column I 1921 1923 BM 1923 1945 Cash Till Money and Note 1000s Il Non clearing banks BESS 1945 1951 MDS 1951 1975 Issue Reserves and Balances III Scottish banks BESA 1975 1982 BEQB Column Il at the Bank of England 1921 Ill and IV Includes reserves for IV Irish banks 1921 1969 aggregate of balance sheet 1982 the note
33. lumn VII 1921 1922 March aggregate of individual balance sheet deposit data for all Irish banks interpolated with the deposits of all English banks 1922 April 1951 average of the aggregate of deposits of all Irish banks operating in both the UK and the Irish Free State multiplied by 0 4 and the aggregate of the deposits of the three Northern Irish banks only Belfast Bank Northern Bank and the Ulster Bank interpolated with the deposits of all English banks 1951 1975 BESA 1975 1982 BEQB Column VIII 1921 1951 calculated from column VII using the ratio of current to total deposits in England and Wales adjusted using the ratio for Northern Ireland in 1951 to allow for the relatively lower holdings of current accounts to total deposits in Ireland 1951 1975 BESA 1975 1982 BEQB table3va tab Table III 5 UK Residents Annual average data 1951 1982 1951 1962 calculated from BESA 1962 total Sterling deposits with 1000s 1975 BESA 1975 1982 BEQB overseas Banks in the UK 1951 1982 table3vb tab Table Ill 5 UK Residents Quarterly average data 1951 1951 1962 calculated from BESA 1962 total Sterling deposits with 1982 1000s 1975 BESA 1975 1982 BEQB overseas Banks in the UK History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 1951 1982 table3vc tab Table Ill 5 UK Residents total Sterling deposits with overseas Banks
34. ms V Inter bank deposits VI Transit items Calculated from the Monthly Statement of the London Clearing Banks available in the BA and The Economist overseas1 tab Overseas Banks British overseas and Commonwealth UK Residents sterling deposits 1951 1975 Variables are unidentified overseas2 tab Overseas Banks American Banks UK residents sterling deposits 1951 1975 Variables are unidentified overseas3 tab Overseas Banks Foreign Banks and affiliates UK residents sterling deposits 1951 1975 Variables are unidentified overseas4 tab Overseas Banks Other Variables are unidentified History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 overseas Banks UK residents sterling deposits 1951 1975 overseas5 tab Overseas Banks in London Aggr Coin notes and Balances at Bank of England 1951 1970 Variables are unidentified japan tab Japanese Banks UK Private sector deposits and C D s 1975 1982 Variables are unidentified notescoins1 tab Notes and Coins held by London Clearing banks 1921 1980 Variables are unidentified notescoins2 tab Notes and Coins held by the Scottish Banks 1935 1980 Variables are unidentified notescoins3 tab Notes and Coins held by Northern Irish Banks 1935 1977 Variables are unidentified londonclear tab London Clearing Banks Balances at Ba
35. nk of England 1919 1980 Variables are unidentified bankrate tab Bank Rate Monthly Averages 1870 1972 Variables are unidentified consol1 tab Consol prices End of Month Variables are unidentified 1870 1946 consol2 tab Consol Yields Monthly Variables are unidentified Average 1870 1979 londonjoint tab London Joint Stock Banks Half Yearly Bank Deposit data 1870 1921 Half Yearly Bank Deposit Data 1870 1921 I Bank no Il London branches Ill Total branches IV Year V Half year VI Deposits Vil Published or non published Vill Known or estimated londprovjoint1 tab London and Provincial Joint Stock Banks Deposit data 1870 1921 part 1 Deposit Data 1870 1921 I Bank number Il Number of London branches Ill Total number of branches IV Year V Half year History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 VI Deposits Vil Published or non published Vill Known or estimated londprovjoint2 tab London and Provincial Joint Stock Banks Deposit data 1870 1921 part 2 I Unidentified variable ll Bank number Ill Number of London branches IV Total number of branches V Year VI Half year VII Deposits VIII Published or non published IX Known or estimated
36. notes English joint stock banks described in Part IIl chapter 6 1905 1945 BESS 1945 1975 BESA 1975 1979 BEQB 1979 1982 calculated from the BEQB Column Il 1870 1921 calculated from the Bank of England balance sheet reproduced in the BM BA and The Economist 1921 1945 calculated from the BESS 1945 1975 calculated from the History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 notes VII Scottish banks notes outstanding VIII Scottish banks authorized issue IX Scottish banks reserve X Irish banks notes outstanding XI Irish banks authorized issue xII Irish banks reserve BESA 1975 1982 calculated from the BEQB Columns Ill and IV 1914 1928 calculated from The Economist BM BBMR Columns V and VI 1870 1921 BM Columns VII and VIII 1870 1951 BM 1951 1975 BESA 1975 1982 BEQB Column IX 1870 1951 BM 1951 1982 the difference of column VII less column VIII Columns X and XI 1870 1962 BM 1962 1975 BESA 1975 1982 BEQB Column XII 1870 1962 BM 1962 1982 the diference of column X less column XI table3ib tab Table Ill 1 UK Coin and Quarterly average data 1870 I Coin in circulation Column I 1870 1905 calculated as Bank notes 1870 1982 1982 1000s Il Bank of England notes described in Part IIl chapter 6 1905 1945 outstanding BESS 1945 1975 BESA 1975 1979 III Treasury and currency notes BEQB
37. ns I III V and VII 1921 1969 aggregate of Table Ill 7 columns III V and VII Column VIII 1870 1921 60 per cent of aggregate of Table III 6 columns IV VI and VIII 1921 1969 60 per cent of aggregate of Table Ill 7 columns II IV VI and VIII table2iia tab Table II 2 UK Public and Annual average data 1871 1982 I Notes and coin in circulation Column I 1870 1982 aggregate of Table Banks Holdings of Currency 1000s outside the Bank of England Ill 1 columns I III V VII and X less Table and Reserves 1870 1982 Il Currency in the hands of the III 2 column V Column Il 1870 1982 Column l Annual average data public column I less columns VI and VII Column for columns and VII for 1871 Hl Banks cash and balances at Ill 1870 1921 Table III 8 columns I VII 1921 are calculated as the the Bank of England 1921 1982 Table III 9 columns I IV Data averages of June and December IV Banks reserves till money for April 1921 to March 1922 were adjusted figures in order to retain and balances at the Bank of to avoid double counting the National Bank consistency with the other data in England Column IV 1870 1982 column III less this table in these years V Banks total cash till money column VII Column V 1870 1982 column and reserve for the note IV less Table III 2 column Column VI Columns II VI Excludes notes issue 1870 1982 column V less column VII and coin in the
38. nsit 1921 1982 aggregate of Table III 4 columns Il IV VI and VIII Column IV 1921 1969 column III less column VIII Column V 1921 1982 column less column III Column VI 1921 1969 column V less column VII Column VII 1870 1921 aggregate of Table III 6 columns I III V and VII 1921 1969 aggregate of Table II1 7 columns I III V and VII Column VIII 1870 1921 60 per cent of aggregate of Table III 6 columns IV VI and VIII 1921 1969 60 per cent of aggregate of Table Ill 7 columns II IV VI and VIII table2ic tab Table Il 1 UK Gross and Net Half yearly data 1870 1921 I Gross bank deposits Column I 1870 1921 aggregate of Table Bank deposit data 1870 1982 Il Net bank deposits IIl 3 columns l VIII 1921 1982 aggregate III Gross demand deposits of Table III 4 columns III V and VII Data IV Demand deposits net of for April 1921 to March 1922 were adjusted 60 of items in transit to avoid double counting the National Bank V Gross time deposits Column Il 1870 1969 column less VI Time deposits net of inter columns VII and VIII Data for April 1921to bank deposits March 1922 were adjusted to avoid double VII Inter bank deposits counting the National Bank Column III VII 60 of items in transit 1921 1982 aggregate of Table III 4 columns II IV VI and VIII Column IV 1921 1969 column III less column VIII Column V 1921 1982 column less column III Column VI
39. olumns V IV Time deposits and X Column IV 1963 1983 Tables 1 4 V Other deposits and I 5 columns VI Column V 1963 VI Total deposits 1983 Table III 2 column IV Column VI VII Bank reserves 1963 1983 Tables 1 4 and 1 5 columns VIII Gross National Product V XI Column VII 1963 1981 BEQB March 1981 pp 63 4 columns 2 plus 3 plus Table Ill 2 column V Column VIII 1963 1982 FS History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 table1vib tab Table 6 End Quarter and Monthly Money Base and Money supply components Monthly data 1971 1983 m Money base Notes and coins in the hands of the public Column I 1963 1981 aggregate of columns II and VII Column II 1963 1983 Tables 1 4 and 1 5 columns IV Column Ill 1963 1983 Hl Sight deposits 1963 1983 Tables 4 and 5 columns V IV Time deposits and X Column IV 1963 1983 Tables 1 4 V Other deposits and l 5 columns VI Column V 1963 VI Total deposits 1983 Table III 2 column IV Column VI VII Bank reserves 1963 1983 Tables 1 4 and 1 5 columns VIII Gross National Product V XI Column VII 1963 1981 BEQB March 1981 pp 63 4 columns 2 plus 3 plus Table III 2 column V Column VIII 1963 1982 FS table 1viia tab Table 7 End quarter and End of quarter data 1963 1982 I M1 multiplier Column I 1963 1981 column II 1 000 Monthly M1 Multipli
40. oodhart 1971 pp 551 6 History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 IV English and Welsh Banks English and Welsh Banks Cheques and Notes in Transit and Collection V Scottish Banks Inter Bank Deposits VI Scottish Banks Cheques and Notes in Transit and Collection VII Irish Banks Inter Bank Deposits VIII Irish Banks Cheques and Notes in Transit and Collection table3ixa tab Table III 9 UK Banks Inter Bank Deposits and items in Transit etc 1921 1969 Annual average data 1922 1969 1000s I London Clearing Banks Inter Bank Deposits Il London Clearing Banks Items in Transit lll Non Clearing Banks Inter Bank Deposits IV Non Clearing Banks Items in Transit V Scottish Banks Inter Bank Deposits VI Scottish Banks Items in Transit VII Irish Banks Inter Bank Deposits VIII Irish Banks Items in Transit Columns I VIII 1921 1969 calculated as described in Part Ill chapter using for each banking group weighted averages of ratios from individual banks balance sheets of inter bank deposits and items in transit total deposits inter bank deposits total deposits and items in transit total deposits and the total deposit series for each banking group from Table lll 4 The bank balance sheet data was supplemented with figures for the London clearing banks from their monthly statements for 1921 1969 and for the Scottish and I
41. owered Money 1870 1982 1000s columns and Table III 2 columns and V less Table II 2 column VII table tiia tab Table 2 M1 M1 Multiplier Annual averages 1922 1969 I M1 1000s Column I 1921 1969 Table II 1 column and Money supply Il M1 multiplier IV plus Table II 2 column II Column II determinants 1921 1969 III Currency in the hands 1921 1969 Column divided by Table 1 1 of the public net sight Column Ill 1921 1969 Table II 2 column deposits Il divided by Table II 1 column IV Column IV Net time deposits net IV 1921 1969 Table Il 1 column VI sight deposits divided by Table II 1 column IV Column V V Other deposits at the Bank 1921 1969 Table III 2 column IV divided of England net sight by Table II 1 column IV Column VI 1921 deposits 1969 Table II 1 columns IV plus VI divided VI Net sight and time by Table II 1 column IV Column VII deposits net sight deposits 1921 1969 Table II 1 columns IV plus VI VII Net total deposits net sight and Table III 2 column IV divided by Table deposits Il 1 column IV table 1iib tab Table 2 M1 M1 Multiplier Quarterly averages 1922 1969 I M1 1000s Column I 1921 1969 Table II 1 column and Money supply Il M1 multiplier IV plus Table II 2 column II Column II determinants 1921 1969 III Currency in the hands 1921 1969 Column divided by Table 1 1 of the public net sight Column Ill 1921 1969 Table II 2 column deposits Il divided b
42. pril June interpolated with column I 1931 1945 BESS 1945 1951 MDS 1951 1971 BESA 1971 1975 interpolated with data for UK Private Sector Sterling Current Accounts from the BESA 1975 1982 BEQB Column Ill 1921 1969 aggregate of individual balance sheets interpolated with London clearering banks total deposits column I 1970 1975 BESA 1975 1982 BEQB Note that there is a break in the series in May 1975 Column IV 1921 1975 calculated from columns I III using the same ratio of current accounts to total deposits as that for the London clearing banks 1975 1982 BEQB Note that there is a break in the series in May 1975 Column V 1921 1930 aggregate of individual banks balance sheet data interpolated with the sum of six Scottish banks current and deposit accounts from the MacMillan Report Appendix Il 1930 1951 aggregate History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 of balance sheet data interpolated with the sum of columns and Il all English banks deposits 1951 1975 BESA 1975 1982 BEQB Column VI 1921 1930 calculated from the adjusted ratio of current to total deposits obtained from the MacMillan Report data applied to column V 1930 1951 calculated from column V and the ratio of current to total deposits of the English banks adjusted to be compatible with the Scottish ratios for 1930 and 1951 1951 1975 BESA 1975 1982 BEQB Co
43. provincial joint VI Scottish Banks stock provincial private Scottish and Irish VII Irish banks banks figures include notes and coin held as reserve for their note issues table3viia tab Table Ill 7 UK Banks total Annual average data 1921 1982 I London clearing banks Column I 1921 1923 BM 1923 1945 Cash Till Money and Note 1000s Il Non clearing banks BESS 1945 1951 MDS 1951 1975 Issue Reserves and Balances III Scottish banks BESA 1975 1982 BEQB Column II at the Bank of England 1921 lll and IV Includes reserves for IV Irish banks 1921 1969 aggregate of balance sheet 1982 the note issue as well as till money and bankers balances data for cash and balances at the Bank of England with adjustments for certain banks interpolated with column I 1970 1975 BESA 1975 1982 BEQB Column Ill 1921 1951 aggregate of balance sheet data for cash balances at the Bank of England and balances with other banks adjusted for balances with other banks The figures for cash and balances at the Bank of England were interpolated with the MacMillan Report data for cash and balances at the Bank for 1921 1931 with History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 the Scottish banks note issue reserves for 1931 1935 and with data for Scottish banks total holdings of cash for 1935 1951 available from the BESS and MDS 1951 1975 BESA 1975 1982 BE
44. r all Irish banks interpolated with the deposits of all English banks 1922 April 1951 average of the aggregate of deposits of all Irish banks operating in both the UK and the Irish Free State multiplied by 0 4 and the History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 aggregate of the deposits of the three Northern Irish banks only Belfast Bank Northern Bank and the Ulster Bank interpolated with the deposits of all English banks 1951 1975 BESA 1975 1982 BEQB Column VIII 1921 1951 calculated from column VII using the ratio of current to total deposits in England and Wales adjusted using the ratio for Northern Ireland in 1951 to allow for the relatively lower holdings of current accounts to total deposits in Ireland 1951 1975 BESA 1975 1982 BEQB table3ivc tab Table III 4 UK Banks total deposits and Current Accounts 1921 1982 Monthly data 1921 1982 1000s VI VII VIII London clearing banks total deposits London clearing banks current accounts Non clearing banks total deposits Non clearing banks current accounts Scottish banks total deposits Scottish banks current accounts Irish banks total deposits Irish banks current accounts Column I 1922 1926 BM 1923 1945 BESS 1945 1951 MDS 1951 1972 BESA 1972 1975 BESA 1975 1982 BEQB Column Il 1921 1931 MacMillan Report Appendix 1931 A
45. r deposits BEQB 1910 1939 aggregate of balances have included sizeable assets V Reserves of notes and coin at Head Office and the branches Appendix and liabilities denominated in to the June 1967 BEQB 1939 1945 BESS foreign currency held in and BM 1945 1975 BESA 1975 1982 connection with arrangements BEQB entered into on 20 January 1981 Column II 1960 1975 BESA and BEQB between the Banque Centrale 1975 1982 BEQB Column Ill 1870 1922 d Algerie the Federal Reserve BA 1922 1939 BESS 1939 1946 BA Bank of New York and the Bank 1946 1975 BESA 1975 1982 BEQB of England as part of the Column IV 1870 1928 calculated from payment negotiated between the data for other deposits which included United States and Iran for the bankers deposits in the period 1870 1928 release of diplomatic personnel derived from the sources given for column from the American embassy in Ill less bankers balances as given in Teheran column I 1928 1982 same sources as for column III Column V 1870 1982 same sources as for column Ill table3iiia tab Table IlI 3 UK Banking Annual average data 1871 1921 I London joint stock banks Columns l VIII 1870 1921 calculated from Groups Total Deposits 1870 1921 1000s London private banks London ephemeral banks individual bank balance sheets from The Economist BM BA and other History Data Service Study Number 1936 Monetary History of the United K
46. rish banks from the BESA for 1951 1969 table3ixb tab Table Ill 9 UK Banks Inter Bank Deposits and items in Transit etc 1921 1969 Quarterly average data 1921 1969 1000s I London Clearing Banks Inter Bank Deposits Il London Clearing Banks Items in Transit Ill Non Clearing Banks Inter Bank Deposits IV Non Clearing Banks Items in Transit V Scottish Banks Inter Bank Deposits VI Scottish Banks Items in Transit VII Irish Banks Inter Bank Deposits VIII Irish Banks Items in Transit Columns I VIII 1921 1969 calculated as described in Part Ill chapter using for each banking group weighted averages of ratios from individual banks balance sheets of inter bank deposits and items in transit total deposits inter bank deposits total deposits and items in transit total deposits and the total deposit series for each banking group from Table lll 4 The bank balance sheet data was supplemented with figures for the London clearing banks from their monthly statements for 1921 1969 and for the Scottish and Irish banks from the BESA for History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 1951 1969 table3ixc tab Table III 9 UK Banks Inter Bank Deposits and items in Transit etc 1921 1969 Monthly data 1921 1969 1000s I London Clearing Banks Inter Bank Deposits Il London Clearing Banks Items in Transit
47. story Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 have included sizeable assets V Reserves of notes and coin at Head Office and the branches Appendix and liabilities denominated in to the June 1967 BEQB 1939 1945 BESS foreign currency held in and BM 1945 1975 BESA 1975 1982 connection with arrangements BEQB entered into on 20 January 1981 Column II 1960 1975 BESA and BEQB between the Banque Centrale 1975 1982 BEQB Column Ill 1870 1922 d Algerie the Federal Reserve BA 1922 1939 BESS 1939 1946 BA Bank of New York and the Bank 1946 1975 BESA 1975 1982 BEQB of England as part of the Column IV 1870 1928 calculated from payment negotiated between the data for other deposits which included United States and Iran for the bankers deposits in the period 1870 1928 release of diplomatic personnel derived from the sources given for column from the American embassy in Ill less bankers balances as given in Teheran column I 1928 1982 same sources as for column III Column V 1870 1982 same sources as for column III table3iic tab Table III 2 Bank of England Monthly data 1870 1982 I Bankers balances Column I 1870 1910 calculated from data Banking department Balance 1000s Il Special deposits for balances at Head Office only available in Sheet data 1870 1982 III Public sector deposits a separate appendix to the June 1967 Reserves and Other Accounts IV Othe
48. ted from the Bank of England balance sheet History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 Treasury note redemption account V English private banks notes VI English joint stock banks notes VII Scottish banks notes outstanding VIII Scottish banks authorized issue IX Scottish banks reserve X Irish banks notes outstanding XI Irish banks authorized issue xII Irish banks reserve reproduced in the BM BA and The Economist 1921 1945 calculated from the BESS 1945 1975 calculated from the BESA 1975 1982 calculated from the BEQB Columns lll and IV 1914 1928 calculated from The Economist BM BBMR Columns V and VI 1870 1921 BM Columns VII and VIII 1870 1951 BM 1951 1975 BESA 1975 1982 BEQB Column IX 1870 1951 BM 1951 1982 the difference of column VII less column VIII Columns X and XI 1870 1962 BM 1962 1975 BESA 1975 1982 BEQB Column XII 1870 1962 BM 1962 1982 the diference of column X less column XI table3iia tab Table III 2 Bank of England Annual average data 1870 1982 I Bankers balances Column I 1870 1910 calculated from data Banking department Balance 1000s Il Special deposits for balances at Head Office only available in Sheet data 1870 1982 III Public sector deposits a separate appendix to the June 1967 Reserves and Other Accounts IV Other deposits BEQB 1910 1939 aggregate of balanc
49. unting the National Bank Column III VII 60 of items in transit 1921 1982 aggregate of Table III 4 columns II IV VI and VIII Column IV 1921 1969 column III less column VIII Column V 1921 1982 column less column III Column VI 1921 1969 column V less column VII Column VII 1870 1921 aggregate of Table III 6 columns I III V and VII 1921 1969 aggregate of Table Il1 7 columns III V and VII Column VIII 1870 1921 60 per cent of aggregate of Table III 6 columns IV VI and VIII 1921 1969 60 per cent of aggregate of Table Il 7 columns II IV VI and VIII table2ib tab Table Il 1 UK Gross and Net Quarterly average data 1922 I Gross bank deposits Column I 1870 1921 aggregate of Table Bank deposit data 1870 1982 1982 Il Net bank deposits Ill 3 columns l VIII 1921 1982 aggregate III Gross demand deposits of Table III 4 columns III V and VII Data IV Demand deposits net of for April 1921 to March 1922 were adjusted 60 of items in transit to avoid double counting the National Bank History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 V Gross time deposits Column Il 1870 1969 column I less VI Time deposits net of inter columns VII and VIII Data for April 1921to bank deposits March 1922 were adjusted to avoid double VII Inter bank deposits counting the National Bank Column III VII 60 of items in tra
50. y Table II 1 column IV Column IV Net time deposits net IV 1921 1969 Table II 1 column VI sight deposits divided by Table II 1 column IV Column V V Other deposits at the Bank 1921 1969 Table III 2 column IV divided of England net sight by Table II 1 column IV Column VI 1921 deposits 1969 Table II 1 columns IV plus VI divided VI Net sight and time by Table II 1 column IV Column VII History Data Service Study Number 1936 Monetary History of the United Kingdom 1870 1970 deposits net sight deposits 1921 1969 Table II 1 columns IV plus VI VII Net total deposits net sight and Table III 2 column IV divided by Table deposits Il 1 column IV table iic tab Table 2 M1 M1 Multiplier Monthly data 1921 1969 I M1 1000s Column I 1921 1969 Table II 1 column and Money supply Il M1 multiplier IV plus Table II 2 column II Column Il determinants 1921 1969 Hl Currency in the hands 1921 1969 Column divided by Table 1 1 of the public net sight Column Ill 1921 1969 Table II 2 column deposits Il divided by Table II 1 column IV Column IV Net time deposits net IV 1921 1969 Table II 1 column VI sight deposits divided by Table II 1 column IV Column V V Other deposits at the Bank 1921 1969 Table III 2 column IV divided of England net sight by Table II 1 column IV Column VI 1921 deposits 1969 Table II 1 columns IV plus VI divided VI Net sight and

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