40-646: Two ships in the United States Navy have been named USS Macedonian . The first USS Macedonian (1810) was a 38-gun sailing frigate, originally HMS Macedonian of the Royal Navy, captured by Stephen Decatur in the War of 1812. The second USS Macedonian (1836) was rebuilt from the keel of the first Macedonian and placed in service in 1836. [REDACTED] [REDACTED] List of ships with
80-663: 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
120-440: A fight. Unfortunately for Macedonian , United States was a 44-gun heavy frigate , and her broadside was 864 pounds (392 kg) of metal, versus Macedonian ' s 528 pounds (239 kg). USS United States hove round, turning downwind and making HMS Macedonian chase her. Within a few minutes of closing, fire from United States ' s 24-pounder cannons brought down all three of Macedonian ' s masts, and riddled
160-432: A full two weeks. Decatur then brought the captured ship into Newport, Rhode Island , as a prize on 4 December 1812, causing an immediate national sensation. USS Constitution had previously beaten HMS Guerriere , but Guerriere had been too badly damaged to save. Macedonian was a sizable and welcome addition to the then tiny US Navy. Macedonian was immediately taken into the United States Navy, retaining
200-567: 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
240-630: A scheme to keep the Bank of England solvent. During the visit, Carden socialised with the notables of Norfolk, including Captain Stephen Decatur , but bungled the mission by inadvertently revealing what was planned, and had to return to Lisbon empty handed. Captain Carden dined frequently with Decatur and his wife Susan and jokingly bet a beaver hat on the outcome of a battle of their ships. They had come to consider one another friends. In September 1812, Macedonian
280-465: 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,
320-502: 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
360-595: Is different from Wikidata All set index articles HMS Macedonian HMS Macedonian was a 38-gun fifth-rate Lively -class frigate in the Royal Navy , later captured by the USS ; United States during the War of 1812 . Macedonian was built at Woolwich Dockyard , England in 1809, launched 2 June 1810, and commissioned the same month. She was commanded by Captain Lord William FitzRoy . Among
400-413: 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
440-734: 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
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#1732844245406480-643: 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
520-657: The Atlantic Ocean 50 nautical miles (93 km; 58 mi) off Lisbon, and Ives was so severely damaged that she was set afire and Macedonian took her crew aboard. While Macedonian operated off Portugal, FitzRoy made personal profit by falsification of records of ships' stores, for which he was court-martialled in March 1811 and dismissed from the service. (He was quietly reinstated in August 1811, presumably due to his aristocratic rank). FitzRoy's replacement, William Waldegrave ,
560-544: 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
600-663: The Macedonian officers and men died. Seventy four of these deaths were by yellow fever . Biddle reported another fifty two of his crew were on sick-list. In their report to the Secretary of the Navy, Commodore Biddle and Surgeon's Mate Dr. Charles Chase state the cause as "fever". As a consequence of this loss Biddle noted his squadron was forced to return to Norfolk Navy Yard early. The Macedonian crew upon arrival were provided medical care and quarantined at Craney Island She next cruised in
640-590: The West Indies , where she helped suppress piracy, into 1826. On 11 June 1826 Macedonian departed Norfolk for service on the Pacific station, returning to Hampton Roads , 30 October 1828. She was decommissioned in 1828 and was broken up at the Norfolk Navy Yard . The crew for this final voyage included William Henry Leonard Poe , brother of American writer Edgar Allan Poe . HMS Macedonian ' s captured ensign
680-414: 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
720-532: 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
760-599: 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
800-491: The East River by way of Hell Gate , New York , 24 May 1813. While sailing along Long Island Sound on the night of 24 May the flagship United States was struck by lightning, causing damage to the main mast, which came crashing down and caused serious damage to the vessel. Macedonian , being close by, immediately distanced herself from the periled United States . After hasty repairs the fleet continued on their way eastward along
840-550: 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
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#1732844245406880-568: The Sound. Because of unfavorable winds and a passage not favorable to heavy vessels, the fleet finally reached Montauk Point, the easternmost point of Long Island. The open sea was now before them but the British had blockading vessels there lying in wait. Outmatched, the fleet had no alternative but to turn back, making their way to the Thames River , where Macedonian and the rest of the fleet remained until
920-407: 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
960-698: The area during the disorders following the Latin American colonial revolts, before returning to Boston in June 1821. During this period she worked as a banking ship, doing business with privateers of every kind. Captain Downes often kept his midshipmen and other trusted aides busy counting specie. Many deposits were made, with many single deposits of over 100,000. The men complained bitterly about their treatment, writing of how they were forced to eat mealy grain while counting hundreds of thousands of dollars in specie. Many of
1000-448: 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
1040-730: The end of the war . On 20 May 1815 she departed for the Mediterranean to join Commodore Decatur's 10-ship squadron in the Second Barbary War in Algeria, a renewal of naval action against the Barbary powers, to stop harassment of American shipping. On 17 June the frigate assisted in the capture of the Algerian flagship, the frigate Mashuda , by frigates Constellation and Guerriere ,
1080-471: The hull. United States then pulled away temporarily, leaving Carden and Hope time to contemplate their lack of options. Finally, with United States preparing to rake the British vessel again, Carden struck his colors, making Macedonian the second Royal Navy vessel to surrender to the Americans during the war. Decatur was careful to preserve Macedonian , sending over a detail to help repair her. This took
1120-595: The men felt that Captain Downes was doing this for the "good of the Captain" and wondered when they would be used for the purpose they joined the Navy for rather than for the Captain's personal enrichment. On 2 April 1822 the Macedonian left Boston as part of Commodore James Biddle's West Indies Squadron . Secretary of the Navy Smith Thompson had assigned the squadron to guard United States merchant shipping and suppress piracy. During their deployment seventy six of
1160-630: The name as Macedonian under the command of Captain Jacob Jones . Early in May after receiving needed repairs Macedonian , along with United States and the sloop Hornet hoped to make their way to sea from the anchorage of Staten Island by way of Sandy Hook but were unable because of the British Blockade. Two ships of the line and three frigates were guarding that passage. Decatur, determined, took his squadron and crossing New York harbor made his way up
1200-408: 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
1240-423: The original crew was the 13-year-old Samuel Leech , who later wrote a memoir of his experiences. Macedonian first delivered a company of soldiers to Lisbon , Portugal, then remained in the area, guarding against the possibility of French naval attack. On 20 February 1811, she collided with Ives – a British merchant ship bound from Demerara on the north coast of South America to Greenock , Scotland – in
USS Macedonian - Misplaced Pages Continue
1280-412: 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
1320-507: 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
1360-522: The same or similar names This article includes a list of ships with the same or similar names. If an internal link for a specific ship led you here, you may wish to change the link to point directly to the intended ship article, if one exists. Retrieved from " https://en.wikipedia.org/w/index.php?title=USS_Macedonian&oldid=1045416400 " Categories : Set index articles on ships United States Navy ship names Hidden categories: Articles with short description Short description
1400-577: The sloops-of-war Epervier and Ontario . The signing of a treaty with Tunis and Tripoli on 7 August, following that with Algeria in June, won maritime freedom in the Mediterranean. The next three years Macedonian patrolled there and off the East Coast. From January 1819 to March 1821 the frigate operated off the Pacific coast of South America, giving aid and protection to the commercial ships in
1440-459: Was an interim appointment whose command lasted for only a few weeks before he was himself replaced by John Surnam Carden . One of Carden's first actions was to hire a band, a move popular with the crew, but he did not get along with the first lieutenant David Hope. In January 1812, Macedonian was ordered to secretly deliver some bills of exchange to Norfolk, Virginia , and to bring back an equivalent quantity of gold and silver currency, as part of
1480-532: 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
1520-536: 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
1560-623: Was on display at Mahan Hall at the U.S. Naval Academy , but was removed on 27 February 2018 for preservation. 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
1600-452: Was ordered to accompany an East Indiaman as far as Madeira , then to cruise in search of prizes as long as his supplies permitted. Macedonian left Madeira on 22 October 1812, but only a few days later, on the morning of 25 October, encountered USS United States , commanded by Carden's former dinner host Decatur. The United States had just declared war on the United Kingdom, and both captains were eager to achieve personal glory in
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