Money, Debt and Politics: The Bank of Lisbon and the Portuguese Liberal Revolution of 1820

This book provides an innovative history of the first Portuguese public bank, exploring the relationship between banking activities and the political context. It discusses the main features of the Bank of Lisbon, its mandate, and its role in financing the State. It also offers new insights for understanding the role of banks in the regulation of monetary circulation and sovereign debt management.

Format: Hardback
Length: 112 pages
Publication date: 30 December 2022
Publisher: Taylor & Francis Ltd

This captivating book delves into the intricate history of the first Portuguese public bank, offering a fresh perspective by examining the symbiotic relationship between banking activities and the political backdrop. It provides a comprehensive overview of the origins of the banking system in both Portugal and Brazil, while also exploring newly uncovered archive materials that shed light on the early years of operation of the Bank of Lisbon and the public debates surrounding monetary and public finance issues.

The Bank of Lisbon stands as a remarkable institution, combining the characteristics of a private bank with a crucial mandate to issue banknotes, thereby regulating monetary circulation. Furthermore, it played a pivotal role in financing the State for current payments, as well as for the amortization of public debt and the creation of new debt. Recognizing the importance of restoring public trust and credit, the Bank of Lisbon was granted the status of a quasi-central bank, entailing the responsibilities of lending and issuing money.

Through this historical case study, readers gain valuable insights into the critical role of banks in regulating monetary circulation and managing sovereign debt. By emphasizing the significance of the political context, the book also highlights the key challenges related to trust, independence, and the rules governing decision-making processes in the study of European banking history.

The central focus of this book lies in the intricate relationship between banking practices and the political environment. However, the reader is invited to engage in thought-provoking discussions on theoretical and economic policy issues related to the primary economic topics under examination: money, paper money, public debt, and the credit system.

By delving into the past, this book offers valuable lessons for contemporary policymakers and financial professionals, helping them navigate the complex terrain of banking and finance in an ever-evolving global landscape.

Weight: 300g
Dimension: 161 x 241 x 13 (mm)
ISBN-13: 9781032409726