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History Of The British National Debt
The history of the British national debt can be traced back to the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt, which evolved into the Bank of England. In 1815, at the end of the Napoleonic Wars, British government debt reached a peak of £1 billion (that was more than 200% of GDP). By the beginning of the 20th century the national debt had been gradually reduced to around 30 percent of GDP. However, during World War I, the British government was forced to borrow heavily in order to finance the war effort. The national debt increased from £650m in 1914 to £7.4 billion in 1919. During World War II the government was again forced to borrow heavily in order to finance war with the Axis powers. After the war the debt gradually decreased as a proportion of GDP, but in the 1970s, following a Sterling crisis, the British government was forced to seek help from the International Monetary Fund (IMF). As the 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK National Debt Interest
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 17 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Houblon
Sir John Houblon (13 March 1632 – 10 January 1712) was the first Governor of the Bank of England from 1694 to 1697. Early life John Houblon was the third son of James Houblon, a London merchant, and his wife, Mary Du Quesne, daughter of Jean Du Quesne, the younger. He had nine brothers and three sisters. The Houblon family were Huguenots from Lille and he later became an elder in the French Protestant Church of London in Threadneedle Street. His younger brother, Abraham Houblon, was also Bank of England Governor, from 1703 to 1705. A daughter of Abraham Houblon, Anne, was married to Henry Temple, later Viscount Palmerston, in 1703. His older brother, James, an influential merchant and Member of Parliament for the City of London, was also a director of the Bank of England. Four other of his brothers were prosperous merchants. Career He became Sheriff of the City of London in 1689, an Alderman from 1689 to 1712, and Master of the Grocer's Company from 1690 to 1691. He wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Late-2000s Recession In Europe
The European recession is part of the Great Recession that began in mid-2007. The crisis spread rapidly and affected much of the region with several countries already in recession as of February 2009, and most others suffering marked economic setbacks. The global recession was first seen in Europe, as Ireland was the first country to fall into recession from Q2-Q3 2007 – followed by temporary growth in Q4 2007 – and then a two-year-long recession. Timeline of the Great Recession across all continents Eurozone The Eurozone recession has been dated from the first quarter of 2008 to the second quarter of 2009. In the eurozone as a whole, industrial production fell 1.9% in May 2008, the sharpest one-month decline for the region since the Black Wednesday exchange rate crisis in 1992. European car sales fell 7.8 percent in May compared with a year earlier. Retail sales fell by 0.6 percent in June from the May level and by 3.1 percent from June in the previous year. Germany was t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2010
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Callaghan
Leonard James Callaghan, Baron Callaghan of Cardiff, ( ; 27 March 191226 March 2005), commonly known as Jim Callaghan, was Prime Minister of the United Kingdom from 1976 to 1979 and Leader of the Labour Party from 1976 to 1980. Callaghan is the only person to have held all four Great Offices of State, having served as Chancellor of the Exchequer from 1964 to 1967, Home Secretary from 1967 to 1970 and Foreign Secretary from 1974 to 1976. He was a Member of Parliament (MP) from 1945 to 1987. Born into a working-class family in Portsmouth, Callaghan left school early and began his career as a tax inspector, before becoming a trade union official in the 1930s; he served as a lieutenant in the Royal Navy during the Second World War. He was elected to Parliament at the 1945 election, and was regarded as being on the left wing of the Labour Party. He was appointed to the Attlee government as a parliamentary secretary in 1947, and began to move increasingly towards the right wing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lend Lease Act
Lend-Lease, formally the Lend-Lease Act and introduced as An Act to Promote the Defense of the United States (), was a policy under which the United States supplied the United Kingdom, the Soviet Union and other Allied nations with food, oil, and materiel between 1941 and 1945. It was given on the basis that such help was essential for the defense of the United States; this aid included warships and warplanes, along with other weaponry. It was signed into law on March 11, 1941, and ended on September 20, 1945. In general, the aid was free, although some hardware (such as ships) were returned after the war. Canada, already a belligerent, supplemented its aid to Great Britain with a similar, smaller program called Mutual Aid. A total of $50.1 billion (equivalent to $ in ) worth of supplies was shipped, or 17% of the total war expenditures of the U.S. In all, $31.4 billion went to the United Kingdom, $11.3 billion to the Soviet Union, $3.2 billion to France, $1.6 billion to Chin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Herbert Hoover
Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was an American politician who served as the 31st president of the United States from 1929 to 1933 and a member of the Republican Party, holding office during the onset of the Great Depression in the United States. A self-made man who became rich as a mining engineer, Hoover led the Commission for Relief in Belgium, served as the director of the U.S. Food Administration, and served as the U.S. Secretary of Commerce. Hoover was born to a Quaker family in West Branch, Iowa, but he grew up in Oregon. He was one of the first graduates of the new Stanford University in 1895. He took a position with a London-based mining company working in Australia and China. He rapidly became a wealthy mining engineer. In 1914 at the outbreak of World War I, he organized and headed the Commission for Relief in Belgium, an international relief organization that provided food to occupied Belgium. When the U.S. entered the war in 191 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Put It Into National War Bonds
Put or PUT may refer to: Finance * Put option, a financial contract between a buyer and a seller * CBOE S&P 500 PutWrite Index (ticker symbol) Science and technology * Programmable unijunction transistor Computing * Parameterized unit testing, in computer programming * Put, a Hypertext Transfer Protocol request method * Put, a File Transfer Protocol option to copy a file to a remote system; see List of FTP commands * Put, an output procedure in Pascal, Turing, and other programming languages ** In C, simple functions, puts and puts(), that put text on the screen Education * Petroleum University of Technology, Abadan, Ahvaz, Mahmud Abad and Tehran, Iran * Poznań University of Technology, Poland (Polish name: ''Politechnika Poznańska'') Transportation * Pui To stop (MTR station code), Hong Kong * Putney railway station (National Rail station code), London * Sri Sathya Sai Airport (IATA code), Puttaparthi, Andhra Pradesh, India Other uses * Phut or Put, Biblical grandson of N ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Sea Company
The South Sea Company (officially The Governor and Company of the merchants of Great Britain, trading to the South Seas and other parts of America, and for the encouragement of the Fishery) was a British joint-stock company founded in January 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt. To generate income, in 1713 the company was granted a monopoly (the Asiento de Negros) to supply African slaves to the islands in the "South Seas" and South America. When the company was created, Britain was involved in the War of the Spanish Succession and Spain and Portugal controlled most of South America. There was thus no realistic prospect that trade would take place, and as it turned out, the Company never realised any significant profit from its monopoly. However, Company stock rose greatly in value as it expanded its operations dealing in government debt, and peaked in 1720 before suddenly collapsing to little above its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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