Publication Date

Spring 4-22-2013

Abstract

Conventionally appreciated as simply a religious and political event, this paper presents a re-appraisal of the Glorious Revolution based on the economic and commercial motivations. Scholarship has long accepted the narrative that the revolution was prompted by religious concerns, however this fails to fully examine the economic conditions of the time and the interests of the so-called "Immortal Seven." The paper then examines the financial reforms wrought by William III, including the establishment of the Bank of England, creation of a national debt, and resolution of the Currency Crisis. Ultimately this paper places the Glorious Revolution into its proper economic context by explaining the economic conditions that brought it about and the economic conditions that it produced.

Document Type

Article

Keywords

Financial History, Glorious Revolution, Currency Crisis, Financial Revolution, Immortal Seven, British Monetary History, British Financial History, William and Mary, William III

Disciplines

Dutch Studies | Economic History | European History | Other History

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