… the destruction and reform of their previous currencies. Consequently a change of currency would arouse more suspicion in Britain than on the Continent
The Long History of the Pound Sterling
Although France had a single national currency for a short period of time during the reigns of Pepin and Charlemagne, England has enjoyed a relatively stable single national currency with an unbroken history of over 900 years, and the origins of the pound Sterling go back even further still.
The author explains on page 444:
“Most European countries, large or small, have repeatedly had to carry out changes which have …
… a similar fall to the one on Wall Street. Fearing that this crash, like the Wall Street Crash of 1929, might cause a world-wide slump the worlds monetary authorities increased the money supply. There upon, in the late eighties, there was a housing boom in Britain. Three contributions were the main reasons for this boom. Number one was the tax relief on mortgage interest. The second was that there were just too many institutions lending too much credit, and the third was diversion of personal savings into the housing market after the Great Crash.
The British pound in …