View source for Colonial Bank of Issue

{{Short description|Bank in New Zealand}}
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{{Use New Zealand English|date=September 2015}}
[[File:Promissory note (AM 605759-3).jpg|thumb|Five pound note issued at Wellington 30 November 1855]]
The '''Colonial Bank of Issue''' was a New Zealand state owned bank that operated between 1847 and 1856 in an early unsuccessful attempt to create a government-owned issuer of bank notes in New Zealand. The bank was created by an [[decree|Ordinance]] of the [[Governor-General of New Zealand|Governor of New Zealand]], Sir [[George Grey]]. Its first manager was [[Charles Knight (doctor)|Charles Knight]].<ref name="DNZB Knight">{{DNZB|Galloway|D. J.|1k14|Charles Knight|9 February 2017}}</ref> 

Pressure from the newly formed Colonial Parliament, the [[ANZ New Zealand|Union Bank of Australasia]], and the local commercial sector, along with views developed in the Colonial Office in the United Kingdom to allow experimentation on competition in the issue of banknotes, led to the bank being wound up by the New Zealand Colonial Bank of Issue Winding-Up Act 1856.

==References==
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* [https://web.archive.org/web/20100515010654/http://rbnz.govt.nz/research/bulletin/2002_2006/2003mar66_1matthews.pdf The legal history of money in New Zealand, Ken Matthews, Reserve Bank of New Zealand: Bulletin Vol. 66 No. 1 ]

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[[Category:Defunct banks of New Zealand]]
[[Category:Government-owned companies of New Zealand]]
[[Category:1847 establishments in New Zealand]]
[[Category:Banks established in 1847]]
[[Category:1856 disestablishments in New Zealand]]
[[Category:Banks disestablished in 1856]]


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