History of Banking and Money

Nice little summary.
Thanks for posting. :pint:
 
It should be pointed out that the reason for the creation of the Bank of England was due to the necessity of the Royal Navy.

Put simply, without the need to fund the construction of and maintenance of large numbers of vessels and the truly insane amount of ancillary workforce to back it, it's entirely likely that the bank would never have come into existence.

And to be clear on the scale of the Navy construction, practically the entire country down to the last town and village was in some form or other connected to it from the manufacture of nails, rope to cured and salted meats that would last for prolonged periods.

Why did we need such? I'm glad you asked, partly to stop our European neighbours from invading (again) due to the ongoing struggles between Protestantism and Catholicism (cheers Henry) partly to defend ourselves from these fellas and partly to carve out our own empire.
 
the_leander said:
It should be pointed out that the reason for the creation of the Bank of England was due to the necessity of the Royal Navy.

Put simply, without the need to fund the construction of and maintenance of large numbers of vessels and the truly insane amount of ancillary workforce to back it, it's entirely likely that the bank would never have come into existence.

And to be clear on the scale of the Navy construction, practically the entire country down to the last town and village was in some form or other connected to it from the manufacture of nails, rope to cured and salted meats that would last for prolonged periods.

Why did we need such? I'm glad you asked, partly to stop our European neighbours from invading (again) due to the ongoing struggles between Protestantism and Catholicism (cheers Henry) partly to defend ourselves from these fellas and partly to carve out our own empire.
Click to expand...

well thats kinda layin it all out there ain't it... debt fueled by war from the first chance they got to fuel debt by war.... heh heh
 
robert l. bentham said:
well thats kinda layin it all out there ain't it... debt fueled by war from the first chance they got to fuel debt by war.... heh heh
Click to expand...

A war of necessity unfortunately, most of Europe was properly pissed at us from moving away from the Catholic church under Henry VIII, and pretty much the moment it happened we were on notice, the Spanish, French and Dutch all wanted to rip us a new one. The Empire building was simply a means to gain extra income over and above our ability to create it on a tiny island. Then of course, we had the Barbary Pirates to contend with and they had a nasty habit of sacking southern villages and dragging back as many inhabitants as they could to sell on the slave blocks. Without the formation of a unified navy, repelling the attacks by the Berbers and eventually crushing them would never have happened.

The other way to look at it is, the banking crisis we all face today is due to the English. ;)
 
You must log in or register to reply here.
Back
Top