Understand how Britain built and manages its national debt—and what it means for public finance today.
This historical study traces the rise of the national debt, examines proposed plans, and tests their effects on policy and credit. The edition updates its scope to the present time and adds new material on sinking funds, stocks, and loan practices.
From a clear introduction to core ideas about government finance to a detailed survey of past plans, this book helps readers see how debt shaping national priorities, taxes, and spending. It blends historical narrative with practical analysis, making complex topics accessible without oversimplifying them.
You’ll explore how different strategies were evaluated, including the effects of debt reduction, funding methods, and the role of public credit. The work also includes comprehensive appendices and tables that illuminate the mechanics behind borrowing and repayment.
- Plain explanations of funded and unfunded debt, sinking funds, and loans.
- Case studies of historical plans and their financial outcomes.
- Appendices detailing stock accounts, the East India Company, and how loans are transacted and stock moved.
- A broad view of how public finance evolved toward modern debt management.
Ideal for readers of economic history, political economy, and public policy who want a grounded look at debt, finance, and governance in Britain.