61-521: The Agricultural Mortgage Corporation plc (AMC) was formed in 1928 under the Agricultural Credits Act, to provide long term mortgages for land and redeveloping farming and rural-based businesses. Initially jointly owned by the Bank of England and the main clearing banks, it was purchased outright by Lloyds Bank in 1993 and is currently a wholly owned subsidiary of Lloyds Banking Group . Following
122-518: A Cooper , which he is doing by means of a candle on a "save-all", so that the sketch satirises at once the king's pretensions to knowledge of art and his miserly habits. During the French Revolution , Gillray took a conservative stance, and he issued caricature after caricature ridiculing the French and Napoleon (usually using Jacobin ) and glorifying John Bull . A number of these were published in
183-499: A New Batch of Kings; His Man, Talley Mixing up the Dough , a satire on Napoleon 's king-making proclivities, are shown in the shop window. Gillray's eyesight began to fail in 1806. He began wearing spectacles but they were unsatisfactory. Unable to work to his previous high standards, James Gillray became depressed and started drinking heavily. He produced his last print in September 1809. As
244-663: A biannual Financial Stability Report. The bank provides wholesale banking services to the UK Government (and to over a hundred overseas central banks). It manages the UK's Exchange Equalisation Account on behalf of HM Treasury and it maintains the government's Consolidated Fund account. It also manages the country's foreign exchange reserves and is custodian of the UK's (and others') gold reserves . The bank also offers 'liquidity support and other services to banks and other financial institutions'. Commercial banks customarily keep
305-467: A commentary, a history of the times embraced by the caricatures. Many copies of the Bohn Edition have been broken up into individual sheets and passed off as originals (see Collecting below). Although the two volumes of the Bohn Edition are often represented as being a complete collection of Gillray's works, this is not the case: for example, Doublûres of Characters is not included in either volume. This
366-401: A letter from Lord Bateman, dated 3 November 1798. "The Opposition", he writes to Gillray, "are as low as we can wish them. You have been of infinite service in lowering them, and making them ridiculous." Gillray's extraordinary industry may be inferred from the fact that nearly 1000 caricatures have been attributed to him; while some consider him the author of as many as 1600 or 1700. According to
427-479: A number in the top, right-hand corner of the print (the number is most commonly in the image itself, but may be outside in the margin); (ii) the fact that the Bohn edition was issued without colouring; and (iii) the fact that the strikes for the main published volumes of the Bohn Edition were printed on both sides of the paper (the Bohn Edition of the so-called "Suppressed Plates" was, like the originals, printed on one side of
488-585: A picture in which Pitt, so often Gillray's butt, figures in a favourable light; The Bridal Night ; The Apotheosis of Hoche , which concentrates the excesses of the French Revolution in one view; The Nursery with Britannia reposing in Peace ; The First Kiss these Ten Years (1803), another satire on the peace, which is said to have greatly amused Napoleon; The Hand-Writing upon the Wall ; The Confederated Coalition ,
549-567: A privilege for employees. Previously, the bank had maintained private and commercial accounts for all sorts of customers, including individuals, small businesses and public organisations; but a change of policy following the First World War saw the bank increasingly withdraw from this type of business to focus more clearly on its central banking role. During the Nine Years' War , the Royal Navy
610-502: A remarkably deft approach. The outstanding example of this is his print Fashionable Contrasts;—or—The Duchess's little Shoe yeilding [ sic ] to the Magnitude of the Duke's Foot . This was a devastating image aimed at the ridiculous sycophancy directed by the press towards Frederica Charlotte Ulrica, Duchess of York , and the supposed daintiness of her feet. The print showed only
671-672: A result of his heavy drinking Gillray suffered from gout throughout his later life. His last work, from a design by Bunbury , is entitled Interior of a Barber's Shop in Assize Time , and is dated 1811. While he was engaged on it he became mad, although he had occasional intervals of sanity, which he employed on his last work. The approach of madness may have been hastened by his intemperate habits. In July 1811 Gillray attempted to kill himself by jumping out of an attic window above Humphrey's shop in St James's Street. Gillray lapsed into insanity and
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#1733085984898732-465: A sizeable proportion of their cash reserves on deposit at the Bank of England. These central bank reserves are used by the banks to settle payments with one another; (for this reason the Bank of England is sometimes called 'the bankers' bank'). In exceptional circumstances, the Bank may act as the lender of last resort by extending credit when no other institution will. As a regulator and central bank,
793-502: A statutory regulator . The bank's headquarters have been in London's main financial district, the City of London , since 1694, and on Threadneedle Street since 1734. It is sometimes known as "The Old Lady of Threadneedle Street", a name taken from a satirical cartoon by James Gillray in 1797. The road junction outside is known as Bank Junction . The bank, among other things, is custodian to
854-591: A swipe at the coalition which superseded the Addington ministry; Uncorking Old Sherry ; The Plumb-pudding in danger (probably the best known political print ever published); Making Decent ; Comforts of a Bed of Roses ; View of the Hustings in Covent Garden ; Phaethon Alarmed ; and Pandora opening her Box . As well as being blatant in his observations, Gillray could be incredibly subtle, and puncture vanity with
915-499: A time with a company of strolling players. After a chequered experience, he returned to London and was admitted as a student in the Royal Academy , supporting himself by engraving, and probably issuing a considerable number of caricatures under fictitious names. His caricatures are almost all in etching , some also with aquatint , and a few using stipple technique. None can correctly be described as engravings , although this term
976-406: Is a foolish affair, methinks, Miss Humphrey. We live very comfortably together; we had better let well alone." There is no evidence, however, to support the stories which scandalmongers invented about their relationship. One of Gillray's prints, "Twopenny Whist", is a depiction of four individuals playing cards, and the character shown second from the left, an ageing lady with eyeglasses and a bonnet,
1037-400: Is carrying two large bags of money. Market-Day pictures the ministerialists of the time as cattle for sale. Among Gillray's best satires on George III are: Farmer George and his Wife , two companion plates, in one of which the king is toasting muffins for breakfast, and in the other the queen is frying sprats; The Anti-Saccharites , where the royal pair propose to dispense with sugar, to
1098-413: Is empowered to act in the event of a bank failure 'to protect the UK's vital financial services and financial stability'. Between 1715 and 1998, the Bank of England managed Government Stocks (which formed the bulk of the national debt ): the bank was responsible for issuing stocks to stockholders, paying dividends and maintaining a register of transfers; however in 1998, following the decision to grant
1159-734: Is missed the Governor is required to write an open letter to the Chancellor of the Exchequer explaining the situation and proposing remedies. Other than setting the base interest rate, the main tool at the bank's disposal in this regard is quantitative easing . The bank has a monopoly on the issue of banknotes in England and Wales and regulates the issuance of banknotes by commercial banks in Scotland and Northern Ireland. (Scottish and Northern Irish banks retain
1220-690: Is most likely because this print was not published by Hannah Humphrey, but by John Wright for the Anti-Jacobin Review and Magazine . The next edition, entitled The Works of James Gillray, the Caricaturist: with the Story of his Life and Times (Chatto & Windus, 1874), was the work of Thomas Wright, and introduced Gillray to larger public. This edition, which is complete in one volume, contains two portraits of Gillray, and upwards of 400 illustrations. Auction prices for Gillray's work have increased since
1281-553: Is often loosely used to describe them. Hogarth 's works were the delight and study of his early years. Paddy on Horseback , which appeared in 1779, is the first caricature which is certainly his. Two caricatures on Admiral Rodney 's naval victory at the Battle of the Saintes , issued in 1782, were among the first of the memorable series of his political sketches. The name of Gillray's publisher and print seller, Hannah Humphrey – whose shop
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#17330859848981342-536: Is still revered as one of the most influential political caricaturists of all time, and among the leading cartoonists on the political stage in the United Kingdom today, both Steve Bell and Martin Rowson acknowledge him as probably the most influential of all their predecessors in that particular arena . Professor David Taylor, a University of Toronto expert in political satire, stated in 2013, "Without question, if
1403-586: Is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government 's banker and debt manager, and still one of the bankers for the Government of the United Kingdom , it is the world's eighth-oldest bank . The bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by
1464-581: Is widely believed to be an accurate depiction of Miss Humphrey. Gillray's plates were exposed in Humphrey's shop window, where eager crowds examined them. One of his later prints, Very Slippy-Weather , shows Miss Humphrey's shop in St. James's Street in the background. In the shop window a number of Gillray's previously published prints, such as Tiddy-Doll the Great French Gingerbread Maker, Drawing Out
1525-640: The Anti-Jacobin Review . He is not, however, to be thought of as a keen political adherent of either the Whig or the Tory party; his caricatures satirized members of all sides of the political spectrum. The times in which Gillray lived were peculiarly favourable to the growth of a great school of caricature. Party warfare was carried on with great vigour and not a little bitterness; and personalities were freely indulged in on both sides. Gillray's incomparable wit and humour, knowledge of life, fertility of resource, keen sense of
1586-648: The Encyclopædia Britannica Eleventh Edition , "Gillray is as invaluable to the student of English manners as to the political student, attacking the social follies of the time with scathing satire; and nothing escapes his notice, not even a trifling change of fashion in dress. The great tact Gillray displays in hitting on the ludicrous side of any subject is only equalled by the exquisite finish of his sketches—the finest of which reach an epic grandeur and Miltonic sublimity of conception." Gillray's caricatures are generally divided into two classes,
1647-544: The Attlee ministry . In 1998 it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. In the 21st century the bank took on increased responsibility for maintaining and monitoring financial stability in the UK, and it increasingly functions as
1708-414: The bank rate ), which is decided by the bank's Monetary Policy Committee (MPC). (The MPC has devolved responsibility for managing monetary policy ; HM Treasury has reserve powers to give orders to the committee "if they are required in the public interest and by extreme economic circumstances", but Parliament must endorse such orders within 28 days.) As of 2024 the inflation target is 2%; if this target
1769-513: The 1970s. At the auction of the Draper Hill Collection at Phillips auctioneers in London in 2001, several key prints, including Fashionable Contrasts , sold for more than US$ 10,000. Since 2002, annual auctions of caricatures at Bonhams in London, each of which included large selections of Gillray prints, have continued this trend. An impression of Light expelling Darkness sold in 2006 for over US$ 9,000, while Fashionable Contrasts sold in
1830-532: The Bank of England has not offered consumer banking services for many years, but it still does manage some public-facing services (such as exchanging superseded bank notes). Until 2017, Bank staff were entitled to open current accounts directly with the Bank of England and were given the unique sort code of 10-00-00. Under the terms of the Banking Act 2009 the bank is the UK's Resolution Authority for any bank or building society judged ' too big to fail '; as such it
1891-599: The Debt Management Office and custodian of its securities . Ever since its foundation in 1694, the bank had provided a retail banking service for the Government; however in 2008 it decided to withdraw from offering these services, which are now provided by a range of other financial institutions and managed by the Government Banking Service . Until 2016, the bank provided personal banking services as
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1952-603: The English government to borrow the £1.5m that it wanted to use to expand the Royal Navy. In 1691, William Paterson had proposed establishing a national bank as a means of bolstering public finances. As he later wrote in his pamphlet A Brief Account of the Intended Bank of England (1694): "...it was proposed some years ago that a publick transferrable Fund of Interest should be established by Parliament, and made convenient for
2013-722: The Receipts and Payments in and about the Cities of London and Westminster; and to constitute a Society of Money'd Men for the government thereof, who should be induced by their Interest to exchange for Money the Assignments upon the Fund, at every demand". While his scheme was not immediately acted upon, it did provide the basis for the bank's first Charter and the legislation which made its establishment possible. James Gillray James Gillray (13 August 1756 – 1 June 1815)
2074-407: The UK's savers, investors and borrowers against threats to the financial system as a whole. Threats are detected by the bank's surveillance and market intelligence functions, and dealt with through financial and other operations (both at home and abroad). The majority of these safeguards were put in place in after the 2007–2008 financial crisis : In 2011 the bank's Prudential Regulation Authority
2135-945: The balance of the share capital from the Bank of England, Barclays Bank , Midland Bank , National Westminster Bank and the Royal Bank of Scotland . As a condition of the sale, it continues to run the organisation as an independent company under its own name. This United Kingdom bank or insurance-related article is a stub . You can help Misplaced Pages by expanding it . Bank of England King Charles III [REDACTED] William, Prince of Wales [REDACTED] Charles III ( King-in-Council ) [REDACTED] Starmer ministry ( L ) Keir Starmer ( L ) Angela Rayner ( L ) ( King-in-Parliament ) [REDACTED] Charles III [REDACTED] [REDACTED] [REDACTED] The Lord Reed The Lord Hodge Andrew Bailey Monetary Policy Committee The Bank of England
2196-448: The bank operational independence, responsibility for government debt management was transferred to a new Debt Management Office , which also took over Exchequer cash management and responsibility for issuing Treasury bills from the bank in 2000. Computershare took over as the registrar for UK Government bonds ( gilt-edged securities or 'gilts') from the bank at the end of 2004. The bank, however, continues to act as settlement agent for
2257-425: The fact that a print is a Bohn. Some common methods include: (i) tortuously worded descriptions, which attempt to avoid disclosure of the fact the print is a restrike (although some sellers will just plain lie); (ii) if the number is outside the image, trimming the print to the very edges of the image; (iii) if the number is inside the image, carefully abrading the surface to obliterate the number; (iv) cutting strips of
2318-499: The feet and ankles of the Duke and Duchess of York, in an obviously copulatory position, with the Duke's feet enlarged and the Duchess's feet drawn very small. This print silenced forever the sycophancy of the press regarding the union of the Duke and Duchess. The miscellaneous series of caricatures, although they have scarcely the historical importance of the political series, are more readily intelligible, and are even more amusing. Among
2379-681: The finest are: Shakespeare Sacrificed ; Two-Penny Whist (which features an image of Hannah Humphrey); Oh that this too solid flesh would melt ; Sandwich-Carrots ; The Gout ; Comfort to the Corns ; Begone Dull Care ; The Cow-Pock , which gives humorous expression to the popular dread of vaccination ; Dilletanti Theatricals ; and Harmony before Matrimony and Matrimonial Harmonics —two sketches in violent contrast to each other. A selection of Gillray's works appeared in James Gillray: The Caricatures printed between 1818 and
2440-426: The first world war, there was a crisis in farming, with too few people owning land. The Government identified a need for long term finance in the agricultural industry to satisfy an investment demand. AMC was created to revitalise land ownership to get a new generation of farmers onto their own land and farming to feed the nation. Prior to 1991, AMC's activities were constrained by statute. In 1993, Lloyds Bank acquired
2501-413: The general freedom of treatment common in all intellectual departments in the 18th century. The historical value of Gillray's work has been recognized by many discerning students of history. As has been well remarked: " Lord Stanhope has turned Gillray to account as a veracious reporter of speeches, as well as a suggestive illustrator of events." His contemporary political influence is borne witness to in
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2562-668: The great horror of the family; A Connoisseur Examining a Cooper ; the paired plates A Voluptuary under the Horrors of Digestion and Temperance enjoying a Frugal Meal , satirising the excesses of the Prince Regent (later George IV of the United Kingdom ) and the miserliness of his father, George III of the United Kingdom respectively; Royal Affability ; A Lesson in Apple Dumplings ; and The Pigs Possessed . Other political caricatures include: Britannia between Scylla and Charybdis ,
2623-504: The image to remove the number; (v) laying the print to paper or framing it such that it is difficult to determine whether there is printing on the reverse; and (vi) adding colour. Also recently the prices of the John Miller editions are rapidly increasing in value because they are affordable for collectors and is seen as a solid investment . They are seen as good alternative to the desirable originals of Mrs. Humphrey's print shop. Gillray
2684-412: The leading cartoonist back then—James Gillray—had depicted Rob Ford he would have been far more merciless than they are today." Regarded as being one of the two most influential cartoonists, the other being William Hogarth , Gillray has been called the father of the political cartoon . The 20th-century New Zealander cartoonist David Low described Hogarth as the grandfather and Gillray the father of
2745-405: The ludicrous, and beauty of execution, at once gave him the first place among caricaturists. He is distinguished in the history of caricature by the fact that his sketches are real works of art. The ideas embodied in some of them are sublime and poetically magnificent in their intensity of meaning, while the forthrightness — which some have called coarseness — which others display is characteristic of
2806-464: The mid-1820s and published by John Miller, Bridge Street and W. Blackwood, Edinburgh. Nine parts were released. The next edition was Thomas McLean's, which was published with a key, in 1830. In 1851 Henry George Bohn put out an edition, from the original plates in a handsome elephant folio, with coarser sketches—commonly known as the "Suppressed Plates"—being published in a separate volume. For this edition Thomas Wright and Robert Harding Evans wrote
2867-408: The official gold reserves of the United Kingdom (and those of around 30 other countries). As of April 2016 , the bank held around 5,134 tonnes (5,659 tons) of gold, worth £141 billion. These estimates suggest that the vault could hold as much as 3% of the 171,300 tonnes of gold mined throughout human history. According to its strapline , the bank's core purpose is 'promoting the good of
2928-619: The other being William Hogarth , Gillray's wit and humour, knowledge of life, fertility of resource, keen sense of the ludicrous, and beauty of execution, at once gave him the first place among caricaturists. He was born in Chelsea , London. His father had served as a soldier: he lost an arm at the Battle of Fontenoy and was admitted, first as an inmate and subsequently as an outdoor pensioner, at Chelsea Hospital . Gillray commenced life by learning letter-engraving, at which he soon became adept. Finding this employment irksome, he then wandered for
2989-405: The paper only). However, the fact that a print is single-sided does not mean that it is not a Bohn restrike: there are in existence many Bohns (for example, Light expelling Darkness ) that bear a number, but which are printed on one side of the paper only. These single-sided numbered strikes are almost always printed on much higher quality paper than was used for the bound volumes, and the quality of
3050-412: The people of the United Kingdom by maintaining monetary and financial stability'. This is achieved in a variety of ways: Stable prices and secure forms of payment are the two main criteria for monetary stability. Stable prices are maintained by seeking to ensure that price increases meet the Government's inflation target. The bank aims to meet this target by adjusting the base interest rate (known as
3111-409: The political cartoon. The face of Court Flunkey from the 1980s/1990s British television satirical puppet show Spitting Image is a caricature of Gillray, intended as a homage to the father of political cartooning. In the article titled A Rousseauian Reading of Gillray's National Conveniences John Moores wrote, "As National Conveniences and The Fashionable Mamma show, Gillray was interested in
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#17330859848983172-584: The political prints, George III , George's wife Queen Charlotte , the Prince of Wales (later prince regent , then King George IV ), Fox , Pitt the Younger , Burke and Napoleon Bonaparte are the most prominent figures. In 1788, appeared two fine caricatures by Gillray. Blood on Thunder fording the Red Sea represents Lord Thurlow carrying Warren Hastings through a sea of gore: Hastings looks very comfortable, and
3233-516: The political series and the social, though it is important not to attribute to the term "series" any concept of continuity or completeness. The political caricatures comprise an important and invaluable component of the history extant of the latter part of the reign of George III. They were circulated not only in Britain but also throughout Europe, and exerted a powerful influence both in Britain and abroad. In
3294-610: The printing is usually much superior too, with more care having been taken to ensure a crisp impression. These impressions are believed to have been struck by Henry Bohn with a view to colouring them, and then selling them as high-quality single prints, in much the same way as the prints published in Gillray's lifetime. There are many example of such single-sided restrikes, both coloured and uncoloured. Since prices for Bohns are usually between one-tenth and one-twentieth of those for originals, unscrupulous sellers will go to great lengths to disguise
3355-507: The right to issue their own banknotes, but they must be backed one-for-one with deposits at the bank, excepting a few million pounds representing the value of notes they had in circulation in 1845.) In addition the bank supervises other payment systems , acting as a settlement agent and operating Real-time gross settlement systems including CHAPS . In 2024 the bank was settling around £500 billion worth of payments between banks each day. Maintaining financial stability involves protecting
3416-406: The same year for over US$ 20,000. This dramatic increase in prices has also led to unscrupulous sellers attempting to pass off prints from the Bohn Edition as originals, and it can be difficult for those unfamiliar with these practices to tell the difference between a restrike (commonly called "a Bohn") and an original. The key indicators of a print coming from the Bohn Edition are (i) the presence of
3477-490: Was a British caricaturist and printmaker famous for his etched political and social satires , mainly published between 1792 and 1810. Many of his works are held at the National Portrait Gallery in London. Gillray has been called "the father of the political cartoon ", with his works satirizing George III , Napoleon , prime ministers and generals. Regarded as one of the two most influential cartoonists ,
3538-483: Was defeated by the French Navy in the 1690 Battle of Beachy Head , causing consternation in the government of William III of England . The English government decided to rebuild the Royal Navy into a force that was capable of challenging the French on equal terms; however, their ability to do so was hampered both by a lack of available public funds and the government's low credit. This lack of credit made it impossible for
3599-536: Was established to regulate and supervise all major banks, building societies, credit unions, insurers and investment firms in the UK (' microprudential regulation '). The bank also has a statutory supervisory role in relation to financial market infrastructures. At the same time, the bank's Financial Policy Committee (FPC) was set up to identify and monitor risks in the financial system , and to take appropriate action where necessary (' macroprudential regulation '). The FPC publishes its findings (and actions taken) in
3660-591: Was first at 227 Strand , then in New Bond Street , then in Old Bond Street , and finally in St James's Street – is inextricably associated with that of the caricaturist himself. Gillray lived with Miss (often called Mrs) Humphrey during the entire period of his fame. It is believed that he several times thought of marrying her, and that on one occasion the pair were on their way to the church, when Gillray said: "This
3721-399: Was looked after by Hannah Humphrey until his death on 1 June 1815 in London; he was buried in St James's churchyard , Piccadilly . A number of his most trenchant satires are directed against George III , who, after examining some of Gillray's sketches, said "I don't understand these caricatures." Gillray revenged himself for this utterance by his caricature entitled A Connoisseur Examining
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