The book offers a clear look at how public funds and government securities were managed in the past.
It explains the machinery behind sinking funds, bonds, and stock, with practical notes on transfers, dividends, and settlements. This edition is illustrated with extensive tables and observations to help readers grasp the long arc of public finance.
From London’s financial institutions to international debt instruments, the text covers the tools, regulations, and processes that shaped public funding. It presents the rise and operation of funds, bills, and mortgages, along with concrete examples drawn from the era’s market practices. Readable and grounded in historical detail, it aims to illuminate how public debt was issued, funded, and redeemed.
- How sinking funds, commissions, and market prices influenced debt management and redemption.
- How government bills, bonds, and Exchequer instruments were issued, funded, and traded.
- Practical notes on receipts, transfers, and the handling of dividends and interest.
- Concrete examples of bonds, stocks, and public securities, including international contexts.
Ideal for readers of financial history and 18th‑century economics who want a grounded, accessible overview of public funds and debt systems.