History
The London stock-market is generally considered to originate in the 1690s, following the Glorious Revolution. Although dealing in mortgages and personal bonds had taken place in London since the middle ages and during the seventeenth century, the general increase in overseas trade and in general exchange had created an increasing need for bills of exchange and familiarity with investment in the bonds of such venture companies as the East India, Royal African and Hudson’s Bay. At this time the London exchange was a shadow of the Amsterdam Bourse which set the example for the scale of capitalist trade and the development of paper instruments of wealth in the seventeenth century. From the 1710s onwards it invested heavily and co-operatively in the London market, but by the end of
1738 words
Citation: Clark, Robert. "The Stock Exchange". The Literary Encyclopedia. First published 19 September 2007 [https://www.litencyc.com/php/stopics.php?rec=true&UID=1739, accessed 23 November 2024.]
