Western Civilization II / Unit 2 WC2 0113 short lesson, about 20 seconds
After 1688: Parliament Governs, and the Bank of England, 1694
Captions available
The idea
Once the elites in parliament were the government rather than its opponent, they taxed and built the state they had starved. War with France from sixteen ninety drove it. The Bank of England, founded by private bankers in sixteen ninety-four, the anchor's date, sold state-backed bonds at reasonable interest.
In practice
Debt managed, investors guaranteed, wars financed.
Where people slip
Bankrupt France against solvent Britain.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Unlocks
- 0114Britain in the Eighteenth Century: Hanovers, Parliament, Voltaire's Model
- 0120Absolutism and Constitutionalism Compared: France and England on Five Features
- 0122Why Absolutism Failed in England and the State Grew Stronger
- 0309Britain Imitates the Dutch: The Treasury of 1667 and the Navigation Acts
- 0602A Century of War, Sixty Percent to Interest, and a Tax System That Could Not Reach the Wealth
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