1672
Stop of the Exchequer
Payments stop on much of the royal debt that goldsmith-bankers had treated as a safe asset.
In 1672 the Stop of the Exchequer suspended payments on much of that debt. Goldsmith-bankers who had funded the Crown discovered that a sovereign borrower can close a window too.
Their notes had been claims on metal left with a private keeper, and also a loan book. Amsterdam’s receipt split is 1683. The Bank of England’s charter is 1694. This page is the Stop.