of William Pitt the Younger by describing the institution as "An elderly lady in the City, of great credit and long standing who had unfortunately fallen into bad company". This in turn led to James Gillray’s famous cartoon entitled Political Ravishment; or the Old Lady of Threadneedle Street in Danger, which depicts Pitt seducing the Bank of England, personified as an old lady attired in £1 and £2 notes, for her fortune. This cartoon is the origin of the Bank's nickname of "The Old Lady of Threadneedle Street", still in use today. See also Gold standard Battle of Fishguard Inflation Depreciation Bank of England Further reading Patrick K O'Brien, Nuno Palma, Danger to the Old Lady of Threadneedle Street? The Bank Restriction Act and the regime shift to paper money, 1797–1821, European Review of Economic History References 1797 in economics Banking in Great Britain Banking legislation in the United Kingdom Great Britain Acts of Parliament 1797