FACTOID # 131: United we stand? The United Kingdom and United States are both in the top ten for Gross Domestic Product - and for child poverty.
 
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Encyclopedia > Colonial Bank of Issue

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 Ordinance of the Governor of New Zealand Governor FitzRoy. Ordinance can mean: A law made by a non-sovereign body such as a city council or a colony. ... The Governor-General of New Zealand is the local representative of the Queen of New Zealand, Queen Elizabeth II, and as such is the highest office in the Government of New Zealand. ...


Pressure from the newly formed Colonial Parliament, the 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. ANZ Banking Group (New Zealand) is one of New Zealands leading banking and financial groups. ... 1856 was a leap year starting on Tuesday (see link for calendar). ...


Source: The legal history of money in New Zealand, Ken Matthews, Reserve Bank of New Zealand: Bulletin Vol. 66 No. 1 available here



 
 

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