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consols


consols


  1  definition  found 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Consols  \Con"sols\  (?  or  ?;  277),  n.  pl  [A  contraction  of 
  consolidated  (annuities).] 
  The  leading  British  funded  government  security. 
 
  Note:  A  considerable  part  of  the  public  debt  of  Great 
  Britian,  which  had  been  contracted  in  the  form  of 
  annuities  yielding  various  rates  of  interest,  was  in 
  1757,  consolidated  into  one  fund  at  3  per  cent 
  interest,  the  account  of  which  is  kept  at  the  Bank  of 
  England.  This  debt  has  been  diminished  and  increased  at 
  different  times,  and  now  constitutes  somewhat  more  than 
  half  of  the  entire  national  debt.  The  stocks  are 
  transferable,  and  Their  value  in  the  market  constantly 
  fluctuates;  the  price  at  any  time  being  regarded  as  a 
  gauge  of  the  national  prosperity  and  public  confidence.