Loan Contracters: 18th century

Thomas Rowlandson

 
Loan Contracters: 18th century
4 0 c m
 
30cm
actual image size: 22cm x 27cm

Full image caption

Loan Contractors. William Pitt the Younger expounds the points of a proposed new loan to a group of financiers. On the walls are pasted sheets announcing 'PLAN for paying off the National DEBT designed by Billy the Deep' and 'Good Premiums given to Inventors of New Taxes'. On the floor are papers labelled 'Loans', 'Exchequer Bills', 'LOTTERY PENALTY on Gaming' and 'Secret Service Mony'. Under pressure of the war with France, Pitt was constantly forced in the later 1790s to raise loans at high interest, albeit he maintained his Sinking Fund to reduce the national debt at low rates. Rowlandson satirises this policy.

© Museum of London

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