THE SYMBIOTIC GROWTH OF ENGLISH EMPIRE
AND
ECONOMY IN THE 18th AND 19th CENTURIES
By Michael Stern
H Band
6-1-04
The Bank of England. The facade is made to resemble
that of classical architecture and gives the building an overwhelming appearance
and shows the power and influence of capital on the face of London, http://www.intaglio-fine-art.com/prints/london-prints.html
“The sun never sets on the British Empire” [1] This was the case for the 18th and 19th centuries. The empire that stretched across the globe and its economy grew symbiotically, and England developed into a great economic power and empire. England’s economy wielded its power through the development of new institutions that provided necessary stimuli to catapult England to the forefront of empires. These were The Bank of England, which helped to provide capital and loans to the government as well as private companies, the London Stock Exchange which created a forum for the trading of stocks and bonds and helped in risk dispersion, the Joint Stock Companies and Maritime Insurance which had similar effects stimulating the economy through spreading risk. All allowed England to develop from a small island power to an empire that stretched across the globe and as was said the sun never set on because of its vastness across the earth.