Understand how Britain built and managed its public funds in the 18th century — with practical detail and historical context.
This work provides an account of the different public funds from their beginnings through the year 1798, including imperial and Irish annuities. It explains how transfers at the Bank of England shaped investment, and what investors needed to know about the stock of public companies. The text also covers the rise of Navy and Victualling bills, Exchequer bills, and the ways the government funded debts through various securities and annuities. Throughout, it blends historical narrative with tables and explanations to clarify how the national debt was structured and managed.
What you’ll experience
- Clear explanations of the origins and nature of public debts and the funds that back them
- Ways government borrowing worked, including the transition from unfunded to funded bills
- Insight into the role of the Bank, transfers, and the pricing of different stock classes
- Historical tables and practical notes that illuminate how investors evaluated bonds and annuities
Ideal for readers of financial history, investors studying early government finance, and students seeking a concrete look at how public funds were created and administered in this era.