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| Picture No | 10731287 |
| Date | 1914 |
| Description | The Bank of England at the beginning of World War I |
| Details |
The prospect of a shortage of gold owing to the threatened rupture of financial relations with the Continent resulted in a highly unusual spectacle at the Bank of England in London. From noon onwards on 31st July 1914 the courtyard was occupied by a changing queue of people keen to change their banknotes into gold. On 1 August 1914 the bank rate rose to 10 per cent, the highest since May 1866, and an indication of the gravity of the European situation at the outbreak of war.
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| Source | Unattributed photograph in 'Nelson's Portfolio of Pictures', page 16 |
| Credit | Mary Evans Picture Library |
| Restrictions |
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