Economic historians conventionally date the origins of the English fiscal
state to the foundation of the Bank of England in 1694. By European
standards this was a belated innovation...
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Economic historians conventionally date the origins of the English fiscal
state to the foundation of the Bank of England in 1694. By European
standards this was a belated innovation; the Spanish, Dutch and French
had developed effective methods of debt service around a century earlier,
based upon high tax revenues and borrowing. This study will explore the
reasons why the English lagged behind their rivals in developing a fiscal
state.