Why Lenders Trusted Britain and Never Trusted France

In 1816 Britain owed more than eight hundred million pounds, about two and a half times its yearly income, and still borrowed for under five percent. How? This story follows the credit machine behind the empire: Charles II's default in 1672, the Glorious Revolution, Parliament's guarantee, the Bank of England in 1694, the 1750s consols, and the debts of the Seven Years' War and the Napoleonic Wars. It also shows why historians still argue about how much institutions, rather than luck and war, lowered Britain's borrowing costs. #britishhistory #britishempire #nationaldebt #bankofengland #economichistory #financehistory #napoleonicwars #history #economics #consols #gloriousrevolution #moneyhistory #empire #documentary #behindthebusiness