Bank of England ledgers reveal failure of World War One loan scheme
Tuesday, August 8, 2017 - 09:32
in Psychology & Sociology
The British government's initial efforts to pay for World War One through loans from the public was a spectacular failure, according to a new study using restricted Bank of England ledgers. The research reveals that the War Loan scheme failed to such an extent that the Bank of England had to secretly fund half the shortfall.