Fox, Fowler and Company
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | 1787 |
| Defunct | 1921 |
| Fate | Taken over by Lloyds Bank |
| Headquarters | Wellington , United Kingdom |
| Products | Banknotes |
Fox, Fowler, and Company was a private banking institution located in Wellington, Somerset, United Kingdom. Established in 1787 to complement the Fox family’s enterprises in sheep farming and wool production, it gradually developed into a prominent financial establishment.
Banknote issuance
As one of the commercial banks authorized to produce its own banknotes, Fox, Fowler, and Company held a unique position. The enactment of the Bank Charter Act restricted new banks in England and Wales from issuing currency notes, prompting a period of financial sector consolidation. Fox, Fowler, and Company stood as the final commercial bank permitted to issue banknotes in England and Wales until its takeover by Lloyds Bank in 1921. Following this acquisition, the bank relinquished its note-issuing privileges, reinforcing the Bank of England’s exclusive role as the sole issuer of sterling currency within England and Wales.
Although certain banks in Scotland and Northern Ireland continue to circulate their own banknotes, the Bank of England remains the only issuer of sterling notes specifically in England and Wales.
An original £5 banknote from Fox, Fowler, and Company is exhibited at Tone Dale House, a residence constructed by Thomas Fox in 1801.
See also
External links
- Defunct banks of the United Kingdom
- Former banknote issuers of the United Kingdom
- Banks established in 1787
- Companies based in Somerset
- History of Somerset
- Banks disestablished in 1921
- 1787 establishments in England
- Wellington, Somerset
- 1921 disestablishments in England
- British companies disestablished in 1921