Credit and the Exchequer since the Restoration

Richard Tye

Chapter 2 in Modern Monetary Theory, 2023, pp 41-66 from Edward Elgar Publishing

Abstract: Researching how English money was first organised and how it evolved over several centuries to become a model for global export reveals a fascinating tale, offering rich historical insights into our modern financial system. When we look into the well of history all too often we find our own image staring back at us, reminding us that, despite the passage of time, little changes. From tally sticks to digital money, the ancient Exchequer to central and commercial banks, and tax farmers to HMRC, the system of money developed by the Anglo-Norman feudal state still fundamentally exists today. This chapter chronicles a short history of English and British finance from the Restoration to the modern day. Focusing on Government finances, it recounts important moments in English and British financial history, describing key financial institutions, the financial instruments they issued, and the many financial reforms that, ironically, have brought us full circle.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2023
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