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Bank Charter Act 1844
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- 1844 c. 32
- Section III
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IIIProportion of Silver Bullion to be retained in the Issue Department.
And whereas it is necessary to limit the Amount of Silver Bullion on which it shall be lawful for the Issue Department of the Bank of England to issue Bank of England Notes : Be it therefore enacted, That it shall not be lawful for the Bank of England to retain in the Issue Department of the said Bank at any One Time an Amount of Silver Bullion exceeding One Fourth Part of the Gold Coin and Bullion at such Time held by the Bank of England in the Issue Department.
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