War-debt

Question 1

How much did the Fr wars cost Br?

Answer 1

1793-1815 Fr wars cost Br:
£1.6 billion

Question 2

What happened to debt in relation to GDP?

Answer 2

debt became double the GDP of the country

Question 3

Why was it so expensive to fund the wars?

Answer 3

had to fund coalitions as well as cost of sending out the army & the navy

Question 4

Example of Br funding a coalition?

Answer 4

Br offered an annual subsidy of £1.25 million for every 100k troops that their allies employed in the field

Question 5

How was the war funded?

Answer 5

funded on credit due to Br’s fairly successful banking systems

Question 6

Example of a financer?

Answer 6

Nathan Rothschild = financer that secured loans

Question 7

What happened to income tax?

Answer 7

income tax was raised for the first time

Question 8

What positive financial things happened in London?

Answer 8

1802 London Stock Exchange was operating
= stocks offered & number of traders in London increased

• 600 more banks by the end of the war!