Friday, 22 May 2009

It Started in the 17th Century, not in America

Mr Speaker removed for the first time in over 300 years. Members of the House of Lords suspended for the first time in over 300 years.

How long is it since we defaulted on our debt? 1693?

That would be right in our Brownian time frame.

2 comments:

Odin's Raven said...

I think British public finance was becoming noticeably strong from the late 17th c. An important factor in Britain's ability to fight a sequence of successful wars against the much more populous France. We seem to be going down the other side of the hill now.

In the earlier period, was there a more spectacular British national bankruptcy since the 14th c repudiation of debt, by Edward III, wasn't it, which destroyed several Italian banking houses?

hatfield girl said...

Florentine banking houses, indeed Raven.

There is gold to be considered too. But I begin to feel shaky on facts of my known world here.