AOM 2

Bonds were created in order to help Florence with the extreme amount of debt. Bonds have caused some of the greatest rises and falls of nations. Venice began to use government bonds in the 1100s in order to help fund wars. This came to be known as the presiti. Eventually recidents and townpeople in Venice were able to trade and purchase bonds. The Bank of England was the first to create a Official Government Bond. This bond was created in 1693. It was created in order to help raise money for a war that would be fought against France. Government bonds were a mix of annuity and lottery. Soon enough, bonds were appearing all over the world. More and more governments all around the world were following in England’s footsteps. Countries were starting to isue government bonds in order to fund wars. The USA began issueing government bonds to help fight the Revolutionary War. During the funraiser Revolutionary War, people brought over 27 million dollars in bonds. Bonds are very useful to help raise money.


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