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Prometheus ShackledGoldsmith Banks and England's Financial Revolution after 1700$
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Peter Temin and Hans-Joachim Voth

Print publication date: 2013

Print ISBN-13: 9780199944279

Published to Oxford Scholarship Online: January 2013

DOI: 10.1093/acprof:oso/9780199944279.001.0001

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The Financial Revolution

The Financial Revolution

Chapter:
(p.23) 2 The Financial Revolution
Source:
Prometheus Shackled
Author(s):

Peter Temin

Hans-Joachim Voth

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199944279.003.0003

This chapter surveys the situation of England's finances after the Glorious Revolution. A tidal wave of new wars caused borrowing to rise rapidly. At the same time, the government succeeded to borrow more cheaply. Next, the chapter surveys the English financial system's key players—the Bank of England, the country banks, bill brokers, and goldsmith banks. It assesses these in terms of a financial system's functions.

Keywords:   financial revolution, Bank of England, financial system, bill brokers, country banks, Hanoverian England, public borrowing, war

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