Republic of Texas Bonds

           Governments are usually able to borrow on terms at least as favorable as any available to individuals or companies. So long as they are not too indebted, their ability to tax subjects is something creditors are quite often happy to lend against. In the 19th century, numerous countries began to issue longer-term debts in bond

Webster, Wallace, and Scottish Widows

           The 18th century was a formative one in the history of insurance. In Britain in particular, insurance was increasingly being sold by specialized firms, rather than by underwriters operating independently or in syndicates. In this way and others, over the course of the century, the industry developed to become more recognizable to modern eyes. In

Swiss Banks and Secrecy

           For a small country, Switzerland punches above its weight in banking. This has largely been attributed to bank secrecy rules that make Swiss banks particularly useful to some. Over the past century, the country’s banking sector has been associated with secrecy, accused of facilitating tax evasion and other crimes. While a professional standard in banking

The Charitable Corporation Scandal

           Britain’s ‘Financial Revolution’ is usually best known for its fiscal and market effects. However, it also coincided with changing opinions towards consumer credit. By the early 18th century, borrowing and lending was accepted as a fact of life that was best tolerated rather than regulated out of existence. One attempt at improving the terms upon

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