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Published by Matthew Davidson on Sun, 12/11/2017 - 3:04pm
Not a great essay, BTW. Teensy bit imperialist: "I trace the beginnings of British foreign investment to the treasure which Drake stole from Spain in 1580. […] Queen Elizabeth was a considerable shareholder in the syndicate which had financed the expedition. Out of her share she paid off the whole of England’s foreign debt, balanced her Budget, and found herself with about £40,000 in hand." #