“To know this is the true essential business of a king”: The Prince of Wales and the Study of Public Finance, 1755–1760

1986 ◽  
Vol 18 (3) ◽  
pp. 429-454 ◽  
Author(s):  
John L. Bullion
Keyword(s):  
Public Finance ◽  
Eighteenth Century ◽  
National Economy ◽  
The State ◽  
National Debt ◽  
Personal Favorite ◽  
House Of Lords ◽  
At Home

By the middle of the eighteenth century, the growth of the national debt, the burden of the taxes necessary to support it, and the effect of this system of public finance on the politics, economy, and society of Britain, deeply concerned politicians in opposition. Their frequent expressions of concern were sufficiently persuasive to induce similar apprehensions on occasion in politicians at court. In 1753, when the national debt was a little over £74,000,000, earl Waldegrave, a personal favorite of George II, felt compelled to tell the House of Lords about a “consideration of very great importance, … the state of our national debt [and] the heavy taxes which are the consequences of this debt.” The situation required, he went on, “prudent measures of government, with that strict national economy which must be our only remedy.” Waldegrave did not go so far as to believe the nation was on the verge of collapse. As he pointed out, “a country and a government like ours has so many and so great resources, that we may bear a great deal and still be in a flourishing condition.” “Yet as long as this evil does subsist,” he warned the House, “we can never expect fully to exert our proper strength.” He concluded, “Till this burden is removed it will remain a check to our trade, will be still heavier on the landed interest, must lessen our credit and influence abroad, and will be a cause of discontent if not of disaffection at home.”

The Multiple Geographies of War Captivity

2019 ◽  
pp. 131-182
Author(s):  
Renaud Morieux
Keyword(s):  
Eighteenth Century ◽  
Side Effect ◽  
Prisoners Of War ◽  
The State ◽  
Forced Migrants ◽  
Spatial Displacements ◽  
At Home

Chapter 3 proposes to define prisoners of war as forced migrants. Although the notions of circulation and imprisonment seem antithetical, this chapter posits that spatial displacements were at the heart of the experience of war imprisonment. It is often forgotten that prisoners of war, by definition, moved, and that this mobility was systemic. For anyone captured at sea, phases of detention on land alternated with internment on anchored or moving ships. The circulations of prisoners of war within, between, and across empires are all part of the same system. By comparing metropolitan, Atlantic, and Caribbean mobility, the shared features of the eighteenth-century state, at home and in the colonies, are highlighted. The prisoners’ strategies to play the system are, it is argued, a side-effect of the limitations of the reach of the state.

scholarly journals Performing Public Credit at the Eighteenth-Century Bank of England

2019 ◽  
Vol 58 (1) ◽  
pp. 58-78 ◽  
Author(s):  
Anne L. Murphy
Keyword(s):  
Eighteenth Century ◽  
Financial Stability ◽  
The State ◽  
Secondary Market ◽  
National Debt ◽  
Personal Credit ◽  
Internal Structures ◽  
Public Credit ◽  
Bank Of England ◽  
Long Eighteenth Century

AbstractMuch is known about the negotiation of personal credit relationships during the eighteenth century. It has been noted how direct contact and observation allowed individuals to assess the creditworthiness of those with whom they had financial connections and to whom they might lend money. Much less is known about one of the most important credit relationships of the long eighteenth century: that between the state and its creditors. This article shows that investors could experience the performance of public credit at the Bank of England. By 1760 the Bank was the manager of nearly three-quarters of the state's debt and housed the main secondary market in that debt. Thus, it provided a place for public creditors, both current and potential, to attend and scrutinize the performance of the state's promises. The article demonstrates how the Bank acted to embody public credit through its architecture, internal structures, and imagery and through the very visible actions of its clerks and the technologies that they used to record ownership and transfer of the national debt. The Bank of England, by those means, allowed creditors to interrogate the financial stability and reputation of the state in the same ways that they could interrogate the integrity of a private debtor.

scholarly journals Consolidation of Public Finances as a Tool for Minimising Disparities in the Sectoral Structure of the National Economy

2021 ◽  
Vol 24 (5) ◽  
pp. 121-130
Author(s):  
Olga Sokolova ◽  
Svitlana Diachenko
Keyword(s):  
Public Finance ◽  
National Economy ◽  
The State ◽  
Current Status ◽  
Policy Tools ◽  
State Budget ◽  
Public Finances ◽  
Budgetary Policy ◽  
Sectoral Structure

The present paper sets the task to consider the issues of public financial resources consolidation in the context of disclosing tax and budgetary policy tools to minimise disparities in the sectoral structure of the Ukrainian economy. The relevance of the study is determined by the topicality of the issues of consolidation and subsequent synchronisation of the finances of public structures in order to create the necessary conditions to minimise the differences between sectors of the Ukrainian economy. In this context, it is extremely important to consider the issues of public finance consolidation through the prism of disclosing the fiscal policy tools as a means of minimising the disparities in the sectoral structure of the Ukrainian economy. The issues of budgetary policy and the economy of Ukraine are extremely important from the standpoint of assessing the correctness of the chosen course of development of Ukrainian society in general and individual sectors of the national economy in particular. The purpose of this study is to assess the real state of the country's budgetary policy in general and in the context of the consolidation of public finances as a tool to minimise these disparities in particular, as well as to consider some aspects of the current status of the Ukrainian economy. The leading approach of the study is a combination of quantitative and qualitative analysis of the matter at hand. The main results of the study were: an assessment of the level of disparities in the distribution of funds from the state budget of Ukraine for 2020; determination of the main directions for the consolidation of public finances when planning the state budget for the current financial year. Prospects for further research in this direction are determined by the importance of various aspects of the distribution of public finances in various spheres of the national economy and the need to create optimal conditions for their proper distribution. The applied value of this study lies in the assessment of the prospects for consolidating public finance as a tool to minimise the disproportions in the sectoral structure of the Ukrainian economy and the possibility of searching for and then introducing optimal ways for a qualitative resolution of this issue

The Equivalent Societies of Edinburgh and London, the Formation of the Royal Bank of Scotland, and the Nature of the Scottish Financial Revolution

2021 ◽  
Vol 60 (1) ◽  
pp. 88-114
Author(s):  
Andrew McDiarmid
Keyword(s):  
Eighteenth Century ◽  
Financial Institution ◽  
The State ◽  
The Political ◽  
Political Upheaval ◽  
Early Eighteenth Century ◽  
Economic Developments ◽  
Complex Movement ◽  
At Home ◽  
The Revolution

AbstractThe historiography of the Financial Revolution in Scotland remains underdeveloped. This article addresses that gap by rounding out the rough sketch that currently represents our understanding of Scotland's Financial Revolution by focusing on the formation of the Royal Bank of Scotland, Scotland's first new financial institution in more than thirty years when it emerged in 1727. The case is made that the Scottish Financial Revolution was a complex movement, very often separated from the state and driven by the agency of Scotsmen at home and abroad, and that 1727 denoted a phase of the revolution in which financially innovative projects returned to the country after a period of absence. The article demonstrates how the progress of the Financial Revolution ebbed and flowed in the country, contingent upon political circumstances, from the nascent economic developments of the 1690s and on to the political upheaval of the early eighteenth century.

Manajemen Ekonomi Outopilot: Kegagalan Negara Mencari Identitas?

Liquidity ◽  
2018 ◽  
Vol 1 (2) ◽  
pp. 142-152
Author(s):  
Mukhaer Pakkanna
Keyword(s):  
Economic Development ◽  
National Economy ◽  
The State ◽  
Political Democracy ◽  
Economic Democracy ◽  
Quality Of Democracy ◽  
Economic Disparities ◽  
National Economic ◽  
Production And Distribution

Political democracy should be equivalent to the economic development of the quality of democracy, economic democracy if not upright, even the owner of the ruling power and money, which is parallel to force global corporatocracy. Consequently, the economic oligarchy preservation reinforces control of production and distribution from upstream to downstream and power monopoly of the market. The implication, increasingly sharp economic disparities, exclusive owner of the money and power become fertile, and the end could jeopardize the harmony of the national economy. The loss of national economic identity that makes people feel lost the “pilot of the state”. What happens then is the autopilot state. Viewing unclear direction of the economy, the national economy should clarify the true figure.

TOURIST BUSINESS DEVELOPMENT IN UKRAINE

2019 ◽  
pp. 39-46
Author(s):  
Stefania Mosiuk ◽  
Igor Mosiuk ◽  
Vladimir Mosiuk
Keyword(s):  
National Economy ◽  
Methodological Approach ◽  
Business Development ◽  
Tourism Industry ◽  
The State ◽  
Complete Analysis ◽  
Resource Potential ◽  
The World ◽  
Potential Resource ◽  
Favorable Conditions

The purpose of the article is to analyze and substantiate the development of tourism business in Ukraine as a priority component of the national economy. The methodology of this study is to use analytical, spatial, geographical, cultural and other methods. This methodological approach provided an opportunity to carry out a complete analysis of the state of the tourism industry of the state and to draw some conclusions.The scientific novelty lies in the coverage of the real and potential resource potential for the development of the recreational and tourism sphere in Ukraine, detailing the measures for the country ‘s entry into the world tourist market. Conclusions. Analyzing the state and prospects of tourism business development in Ukraine, it should be noted that this industry is one of the priority areas for improving the economy of the country. Historical, cultural – ethnographic, gastronomic, sanatorium and resort potentials of the country will lead the country into world leaders of the tourism industry when creating favorable conditions for investment and proper marketing.

On the issue of the revitalization and modernization of the engineering in Russia

2019 ◽  
pp. 19-24
Author(s):  
A. E. Melnikov
Keyword(s):  
National Economy ◽  
Technological Progress ◽  
Developed Countries ◽  
The State ◽  
Engineering Technology ◽  
Operational Characteristics ◽  
Technical Potential ◽  
Significant Barrier ◽  
The Developed Countries ◽  
Competitive Products

Currently, one of the important tasks of the economic policy of Russia is the formation of a hightech image of the national economy, capable of effective functioning in the changing global geopolitical and geoeconomic conditions. In this context, the issue of revitalization of mechanical engineering, which plays a key role in the development of the country’s economy, is of particular relevance. This sector is a link between scientific and technological progress and the level of provision of domestic producers with domestic machines and equipment, allowing them to produce competitive products and to a lesser extent depend on the state of the external environment. The example of the developed countries of the world shows that the development of advanced engineering technology significantly increases the efficiency of the national economy, helps to accelerate its growth. At the same time, in Russia, in order to unleash the scientific and technical potential and activate engineering, it is necessary to initiate modernization processes in it. Based on the foregoing, the purpose of the study is to analyze the state of Russian engineering from the position of its role in the country’s economy. It is shown that at present a significant barrier to the development of this sector is the predominance of imported equipment, due to technical and operational characteristics, often superior to domestic counterparts.

PROBLEMS OF IMPLEMENTATION OF EUROPEAN PUBLIC-PRIVATE FORMS OF SUSTAINABLE ENTREPRENEURSHIP IN UKRAINE

2019 ◽  
pp. 14-20 ◽  
Author(s):  
Igor Bystryakov
Keyword(s):  
Sustainable Development ◽  
National Economy ◽  
Sustainable Management ◽  
Mineral Resources ◽  
The State ◽  
Sustainable Entrepreneurship ◽  
Effective Implementation ◽  
European Public

The problem issues and points of inhibition of the introduction of public-private forms of sustainable management of European type in the national economy of Ukraine are determined in order to ensure the effective implementation of the relevant principles and mechanisms in the system of sustainable development of the state and its territories, in particular in the context of water, land, forest and mineral resources. The main limitations of the system, as well as the factors of deterrence and directions of the development of public-private relations in Ukraine are revealed.

Material costs in productural productivity structure: world trends and impact on development of the domestic economy

2019 ◽  
Vol 39 (2) ◽  
pp. 196-205
Author(s):  
N. V. Firov
Keyword(s):  
Economic Development ◽  
Comparative Analysis ◽  
Natural Resources ◽  
National Economy ◽  
Raw Materials ◽  
The State ◽  
Domestic Economy ◽  
Western Countries ◽  
Material Costs

A comparative analysis of the prices of raw materials, fuel, electricity in Russia and Western countries, the dynamics of their growth and impact on the national economy. It is shown that in the interests of the country's economic development and improving the welfare of the population, it is necessary to use its natural resources more effectively, to pursue a more stringent and at the same time balanced policy to curb the growth of prices, taking into account the interests of the state and business.

HISTORY OF THE GOSNITI ESTABLISHMENT

2020 ◽  
Vol 4 (141) ◽  
pp. 165-175
Author(s):  
VYACHESLAV CHERNOIVANOV ◽  
◽  
VALENTIN LYALYAKIN
Keyword(s):  
National Economy ◽  
The State ◽  
Advanced Technology ◽  
Research Purpose ◽  
Quantitative Composition ◽  
Technical Documentation ◽  
Agricultural Machinery ◽  
History Of ◽  
Electric Brake ◽  
Testing Fuel

With the increase in the production of new machines, it was necessary to pay more attention to their repair and maintenance, expand research, create appropriate standards, and constantly update technical documentation. The pre-1953 repair laboratories were not powerful enough to solve the growing problems. In 1953, it was decided to establish The State Union Research Institute for the Repair and Operation of Tractors and Agricultural Machinery. (Research purpose) The research purpose is in describing the history of GOSNITI establishment, analyzing the tasks and results of the Institute's activities over the first decade. (Materials and methods) The article presents the base of the new Institute and its quantitative composition. The article describes the main objectives of the Institute and its activities. (Results and discussion) Work was carried out to create self-moving workshops for filling filters, electric brake stands, stands for testing fuel equipment, equipment for vibration contact surfacing. The calculations of the repair base for the regions were carried out. The article presents the list of works that were widely implemented in the national economy and the list of publications of technical documentation. GOSNITI was awarded the Order of the Red Banner of Labor by the decree of the Presidium of the Supreme Soviet of the USSR on May 25, 1967, for implementing the system and advanced technology for repairing cars. (Conclusions) The staff of the established Institute successfully completed the tasks set in the first decade.

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