The evidence given by Lord Overstone before the Select Committee of the House of Commons of 1857 on Bank Acts,: With additions

by Samuel Jones Loyd

Overstone, a major figure in the "Currency School," was a principal architect of the Bank Act of 1844 whose provisions he defended in the Parliamentary hearings of 1848 and 1857. This important primary source of Overstone's monetary thought, including previously unpublished material, demonstrates his equal mastery of banking theory and practice. "Overstone's emphasis was on control of currency as the high-powered money base, with deposits as part of an inverted credit pyramid." The New Palgrave

306 pages, Hardcover

First published January 1, 1973

About the author

Samuel Jones Loyd, 1st Baron Overstone (25 September 1796 – 17 November 1883) was a British banker and politician.

Loyd was the only son of Reverend Lewis Loyd and Sarah, daughter of John Jones, a Manchester banker. He was educated at Eton and Trinity College, Cambridge.

Loyd's father had given up the ministry to take a partnership in his father-in-law's bank and became the founder of the London branch of Jones, Loyd & Co. Loyd joined his father's bank, and took control of the bank after his father retired in 1844. On his father's death in 1858 Loyd inherited an estate worth £2million. In 1864 the bank became incorporated with the London and Westminster Bank.