The day the king defaulted : financial lessons from the Stop of the Exchequer in 1672 / Moshe Arye Milevsky.
2017
HJ1012 .M55 2017 (Map It)
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Details
Title
The day the king defaulted : financial lessons from the Stop of the Exchequer in 1672 / Moshe Arye Milevsky.
Published
Cham, Switzerland : Palgrave Macmillan, [2017]
Copyright
©2017
Call Number
HJ1012 .M55 2017
ISBN
9783319599861
3319599860
3319599860
Description
xxi, 218 pages : illustrations, map ; 21 cm
System Control No.
(OCoLC)987282762
Bibliography, etc. Note
Includes bibliographical references (pages 209-214) and index.
Record Appears in
Table of Contents
1.
Bankers Then and Now
1
Asset Liability Mismanagement in the Seventeenth Century
3
Financial Crisis in Slow Motion
7
Outline of the Story and the Book
9
Brief Review of Scholarly Literature
12
References
18
2.
Dramatis Personae
21
Nobility Versus Gentry
21
King Charles II
24
Dutch and Temple
28
Queen Catherine of Braganza
30
Thomas Clifford
31
Henry Bennet: Arlington
33
George Villiers: Buckingham
35
Anthony Ashley Cooper: Shaftesbury
38
John Maitland: Lauderdale
41
George Downing
44
Thomas Osborne: Danby
47
References
50
3.
Goldsmith-Bankers
51
From Artists to Financiers
51
Edward Backwell
55
Robert Viner
59
John Banks
62
Banking and Interest: Was It Legal?
65
References
70
4.
Personal Finances of a King
73
Where Did the Money Go?
74
Cost of Plagues and Fires
81
Royal Allowance with Strings
84
Customs, Excise and Hearth
85
King's Debts Kept Growing
89
Budget of a Modem-Day Monarch
92
References
93
5.
Paid Upon Orders from the Treasury
95
Many Ways to Skin a Cat
101
Valuing Collateralized Treasury Orders (CTOs)
105
Poisson Model for the Arrival of Taxes
109
Treat a Model Like a Gentleman
115
Fair Compensation for Financial Risk?
115
Position in the Queue Matters
117
Hint of What Went Wrong
118
References
120
6.
Diary of a Default
121
1667: Downing Gives Orders
121
Alliances, Duels and a Liquor Tax
131
Selling Tour Religion at Dover
136
Prelude to the De (fault)
141
Tuesday, January 2, 1672
150
Danby Makes Assignments
172
Visiting Debtors' Prison
182
1706: Internal Rate of Return and Recovery
185
References
190
7.
Concluding Thoughts for the Twenty-First Century
193
Case Study for Business Ethics?
198
Appendix A
Fate of a 2007 Banker
201
Appendix B
Unpacking the IRR
205
Bibliography
209
Index
215