Stanhope enacts Walpole's Sinking Fund to reduce the national debt

Historical Context Note

Litencyc Editors (Independent Scholar - Europe)

The Literary Encyclopedia. Volume 1.2.1.05: English Writing and Culture from the Glorious Revolution to the French Revolution, 1689-1789.
Vol. editors: Paul Baines (University of Liverpool), Daniel Cook (University of Dundee), Pat Rogers (University of South Florida), Nicholas Seager (University of Keele)

Domains

Finance

Dates

Date of occurrence 1717

Places

United Kingdom (Location)

Resources

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Stanhope puts into force Robert Walpole's Sinking Fund to reduce the national debt by annual instalments. The fund itself is set up from the surplus obtained by reducing the interest on national securities.

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33 words

Citation: Editors, Litencyc. "Stanhope enacts Walpole's Sinking Fund to reduce the national debt". The Literary Encyclopedia. First published 01 April 2011 [https://www.litencyc.com/php/stopics.php?rec=true&UID=17213, accessed 25 April 2024.]

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