parliament

議会　—　Institutions

The assembly that consents to taxes and to spending.

Pennsylvania note printed by Franklin — A photograph of the real thing this term names.

Continental note (one sixth of a dollar) — A photograph of the real thing this term names.

⚠ When a parliament controls the finances, interest rates on the national debt fall. This is because a guarantee from a parliament was considered more credible than the promise of a single king. The form of government is directly reflected in the price of borrowing.

Related terms

credit public debt taxation

Courses where this term appears

A01 Where Did Money Come From?B04 Nominal and Real B05 Iconography and Power B07 War and Money B13 International Currency B17 Money and Law C07 The Rediscovery of the Same Law C11 The Life and Death of the Gold Standard E7 Provenance and Law F6 Coinage and Epidemics/Disasters P7 The Future of Money

Where this word appears

Overview: 2,700 years of the world　Italy　The Ducat of Venice
Introduction: 2700 Years of World History　The Face of Coinage　Whose Face Is on the Coin?
United States　The mother country forbids it　A merchant house in London
United States　The continental currency　The statehouses and printing shops of the states
United States　Money inside the constitution　The Constitution of the United States, Article 1, Section 8
United States　Hamilton against Jefferson　The office of the Secretary of the Treasury
United States　The death of the First Bank　Washington, the federal Congress
United States　Jackson's bank war　Washington, the presidential mansion

and 56 more chapters

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