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The Growth of English Credit, 1290–1294

In: Enterprise, Money and Credit in England before the Black Death 1285–1349

Author

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  • Pamela Nightingale

    (University of Oxford)

Abstract

This chapter relates the puzzling facts that English credit in the certificates was growing in the leading counties between 1290 and 1294 even though the amount of foreign bullion brought to the mints fell to only 8% of its total in the previous decade, and alien credit in the certificates plunged in 1292, two years before the outbreak of the war with France. The chapter discusses the reasons for this conundrum and relates it to the inflow of imitation sterling coins which were brought illegally to England to buy wool, by-passing the mints, but circulating sufficiently to increase credit which helped to finance English enterprise, including Derbyshire’s lead industry.

Suggested Citation

  • Pamela Nightingale, 2018. "The Growth of English Credit, 1290–1294," Palgrave Studies in the History of Finance, in: Enterprise, Money and Credit in England before the Black Death 1285–1349, chapter 0, pages 99-129, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-3-319-90251-7_5
    DOI: 10.1007/978-3-319-90251-7_5
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