Timeline February 1797

Events in February 1797 2

• 1797 Battle of Cape St Vincent Royal Navy defeats a larger Spanish fleet off Portugal A British fleet under Admiral Sir John Jervis defeated a larger Spanish fleet off the Portuguese coast. Commodore Horatio Nelson distinguished himself by breaking formation to capture two Spanish ships, boosting his reputation. The victory helped secure British naval dominance in the Atlantic.
• 1797 Bank of England Suspends Gold Payments Bank Restriction Act halts convertibility of banknotes Fearing a run on gold reserves amid invasion scares and war financing needs, the British government suspended the Bank of England's obligation to redeem banknotes for gold. The restriction lasted, with interruptions, until 1821. It marked a major shift in British monetary policy during the French Revolutionary Wars.