Talk:Thomas Raikes

Crisis of 1797

I've removed the following paragraph from the main article, as it is about the crisis of 1797 and the issuing of banknotes rather than Thomas Raikes.

On 26 February 1797, in spite of it being a Sunday, the Privy Council convened to discuss measures of preventing the country’s financial ruin. The reserves in the Bank of England were dangerously low, and the news that a French squadron had landed on the coast of Fishguard, Wales, had just reached the capital the previous day. On the following day, people who went to the Bank of England were given handbills, which communicated that by Order of the Privy Council the Bank had suspended the cash payment of their notes. The Bank on that day issued the first £1 and £2 sterling banknotes. The Bank of England was beginning to assume the status of a central bank, and the people used and became accustomed to inconvertible paper money.

An abbreviated version of this highlighting Raikes' involvement or its effect on him/his career is obviously suitable for this article. But a detailed treatment of the crisis is best left to a more appropriate article. Thryduulf (talk) 14:19, 4 September 2009 (UTC)