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The governmental calculations, having decided that henceforth all payments to the government
Should be made through Bank, - a rule which realisation has resulted
To essential growth of prestige of Bank.
Further, also it has been decided that no other bank could be founded
Through acceptance by Parliament of the special law. At last, the Law decided,
What is the actions of the Managing director and To at Bank of England could not serve
Occasion to use of a private property of any of corporators in
Quality of indemnification for the caused damage that, as a matter of fact, meant
Granting to Bank of the privilege of limited liability. It became that
The privilege which it has been refused to all other bank associations on
Extent of the next one and a half centuries.
Approximately simultaneously with these events the new has started to arise
The organizational form of business known now under the name of the joint-stock
Societies. Natural step to strengthening and so the exclusive suffices
Bank positions there was a granting to it some monopoly over this form
The organisation allocated with huge advantages in comparison with the former
Forms of associations. Accordingly, when in 1709 the Bank charter was again
It is reconsidered, besides granting to it of the right of increase in the capital in exchange for
Granting of the credit to the government, the Law also decided that any
The firm consisting of seven and more partners, had no right to release of bills
Poste restante and with term of payment less half a year. It has actually led
To exception of joint-stock companies of issue business and of a banking
In general, as last concept in those days almost completely
Associated with issue activity. Since then it even more
Centuries, the question on application of an interdiction for the bank has not been brought up yet
Activity in any, and not just only in its issue sphere.
In 1713 the licence has been again renewed [the author uses the term the
charter - the complete set of documents which is switching on the Charter and the licence (certificate); at
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