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Guide to the Millennium
 One Thousand Years of Finance SATURDAY JANUARY 1 2000 


One Thousand Years of Finance


 


Earliest known shareholding company formed . . . plague insurance offered . . . first foreign exchange contract issued . . . Magna Carta signed . . . paper money invented in China . . .



 

Edward 1 issues new coins.
Mafia created . . . Europe's largest bank collapses after loan to English king . . . charging interest legalised . . . dried fish used as money . . . hyperinflation in China, Ming note plunges . . .


 

Cortes conquers Mexico.
Fortified wine pioneered by Benedictine monks . . . tobacco used as currency in Virginia . . . tulip mania in Holland . . .first known cheque issued . . . Bank of England founded . . .


 

Lloyd's of London founded.
Bank of Scotland opens . . . Dom Perignon creates new sparkling wine . . . Barings bank established . . . Royal Giro set up by Frederick the Great . . . New York Stock Exchange created . . .


 

Pitt introduces income tax.
Rothchilds expand into Britain . . . US doubles in size . . . Jacquard perfects loom . . . US bans international trading . . . Thomas Cook starts travel business . . . California gold rush . . .


 

Nokia founded.
Marx publishes Das Kapital . . . Germany becomes united . . . first Barings crisis . . . FT rounded . . . Henry Ford builds experimental car . . . First mega-merger of the 20th century . . .


 

The Great Crash
Keynes argues against war reparations . . . hyperinflation in Germany . . . US prohibition . . . cattle still used as currency . . . IMF begins . . . first charge card . . . Japanese economic miracle . . .


 

European unity
US abandons gold standard . . . oil prices quadruple . . . mass-produced computers . . . Thatcherism in Britain . . . Black Monday . . . collapse of Communism . . . single currency in Europe . . .


Sources: A History of Money from Ancient Times to the Present Day by Glyn Davies. ed. Cardiff: University of Wales Press, 1996.
The Bank of England - A Comparative Chronology of Money http://www.ex.ac.uk/~RDavies/arian/amser/chrono.html
Europe A History, by Norman Davies London: Pimlico, 1997
Chronicle of the World London: Longman, 1989.



 
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