Founding of the Bank of England
Citations (1)
- Debt: The First 5,000 Years whole source · open book
In 1694, a consortium of English bankers made a loan of £1,200,000 to the king. In return they received a royal monopoly on the issuance of banknotes.
chapter: State and Credit Theories of Money
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Consequences
what this set in motion, following the causal links
- preceded Founding of the Federal Reserve 1913 The central-bank model crossed the Atlantic two centuries later.
Appears in 5 stories
- Money and finance step 44
- The British Empire step 73
- The bankers step 16
- The central bankers and the road to war step 2
- The wandering center of money step 13
Linked events (1)
- this preceded Founding of the Federal Reserve