Vic on Nostr: After the Jacobite rebellion of 1745 interest rates eased. In 1749, Henry Pelham, the ...
After the Jacobite rebellion of 1745 interest rates eased. In 1749, Henry Pelham, the Chancellor of the Exchequer, then sought to take advantage of this period of peace and low interest rates to reduce the burden of debt. He began to convert a number of funds, comprising the greater part of the national debt, into an issue of "3% consolidated annuities," the original consols. These funds are still outstanding, although they now bear a rate of 2½%.
- A History of Interest Rates, 4th edition ebook, page 156
Published at
2024-09-28 15:38:46Event JSON
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"content": "After the Jacobite rebellion of 1745 interest rates eased. In 1749, Henry Pelham, the Chancellor of the Exchequer, then sought to take advantage of this period of peace and low interest rates to reduce the burden of debt. He began to convert a number of funds, comprising the greater part of the national debt, into an issue of \"3% consolidated annuities,\" the original consols. These funds are still outstanding, although they now bear a rate of 2½%.\n\n- A History of Interest Rates, 4th edition ebook, page 156",
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