Goschen converts consols to lower interest rates

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• The House of Rothschild whole source · open book

  In 1889 the Chancellor of the Exchequer George Goschen undertook to convert £500 million of 3 per cent consols into 2.5 per cents—an operation involving nearly half the national debt.

  chapter: ELEVEN - The Risks and Returns of Empire (1885-1902)

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