What is ‘Old Lady’
An eighteenth century nickname for the Bank of England. The full name is the Old Lady of Threadneedle Street, which refers to the bank’s location. The Bank of England is located in the middle of the city of London on Threadneedle Street.
Explaining ‘Old Lady’
James Gillray first used the nickname in a caricature cartoon in 1797. The cartoon was entitled “The Old Lady of Threadneedle Street in Danger”, which some say pokes fun of the Bank of England for stopping cash payments. The Old Lady is seen dressed in one-pound bank notes, which the Bank of England used to compensate for the lack of cash reserves.
Further Reading
- The old lady visits your backyard: A tale of morals and markets – www.journals.uchicago.edu [PDF]
- Old Lady charm: explaining the persistent appeal of Chicago antitrust – www.tandfonline.com [PDF]
- Rethinking risky investments for that little old lady: A realistic role for modern portfolio theory in assessing suitability obligations of stockbrokers – heinonline.org [PDF]
- Danger to the Old Lady of Threadneedle Street? The Bank Restriction Act and the regime shift to paper money, 1797–1821 – academic.oup.com [PDF]
- New money, and old man/lady and 'Two's company': Subjective Welfare in the NORC General Social Surveys, 1972–1982 – link.springer.com [PDF]
- Danger To The Old Lady Of Threadneedle Street? The Bank Restriction Act And The Regime Shift To Paper Money, 1797-18211 – ideas.repec.org [PDF]
- Reading financial services: texts, consumers, and financial literacy – journals.sagepub.com [PDF]
- Danger to the old lady of Threadneedle Street? The Bank Restriction Act and the regime shift to paper money, 1797-1821 – ideas.repec.org [PDF]
- Europe's Destiny: The Old Lady and the Bull – search.proquest.com [PDF]
- Danger to the Old Lady of Threadneedle Street? The Bank Restriction Act and the regime shift to paper money, 1797–1821 – repositorio.ul.pt [PDF]
