There were two international standards in the nineteenth century, the theoretical gold standard and the historical sterling standard. The primary interest of this thesis is the latter, although the theoretical framework of the gold standard will also be examined. Because of its role in the London money market, particular attention will be given to the Bank of England. Since the Bank and the international standards were products of the evolutionary and revolutionary changes which occurred in Britain during the eighteenth and nineteenth centuries, an attempt will be made to examine them within their historical context.

This thesis discusses trade regulations throughout history.