Stop of the Exchequer (1672)

E219510

The Stop of the Exchequer (1672) was a financial crisis in England when King Charles II suspended payments on the Crown’s debts, triggering widespread economic disruption and loss of confidence in the monarchy’s credit.

All labels observed (3)

How this entity was disambiguated

Statements (47)

Predicate Object
instanceOf event in English history ⓘ
financial crisis ⓘ
public debt default ⓘ
alsoKnownAs Stop of the Exchequer ⓘ
suspension of Exchequer payments (1672) ⓘ
appliesTo interest payments on Crown debt ⓘ
principal repayments on short-term royal loans ⓘ
cause chronic fiscal deficits of the Stuart monarchy ⓘ
heavy military expenditure for the Third Anglo-Dutch War ⓘ
insufficient parliamentary taxation to cover royal spending ⓘ
overreliance on short-term loans from London goldsmith-bankers ⓘ
suspension of payments on Crown debts ⓘ
country Kingdom of England ⓘ
declaredBy Charles II of England ⓘ
effect bankruptcies among London goldsmith-bankers ⓘ
contraction of credit in London ⓘ
increased parliamentary scrutiny of royal finances ⓘ
litigation between Crown and creditors ⓘ
long-term damage to royal creditworthiness ⓘ
loss of confidence in the monarchy’s credit ⓘ
shift of financial power toward Parliament and City of London ⓘ
suspension of Crown debt payments ⓘ
widespread economic disruption in England ⓘ
extendedDuration several years of partial non-payment ⓘ
followedBy parliamentary financial reforms in late 17th-century England ⓘ
hasSubject public finance of the Stuart monarchy ⓘ
historicalPeriod Restoration era ⓘ
linked to: Stuart period
initialDuration 12 months ⓘ
legalForm royal proclamation ⓘ
location England ⓘ
participant Anthony Ashley Cooper, 1st Earl of Shaftesbury ⓘ
Charles II of England ⓘ
English merchants ⓘ
London goldsmith-bankers ⓘ
Parliament of England ⓘ
Thomas Clifford, 1st Baron Clifford of Chudleigh ⓘ
creditors of the English Crown ⓘ
pointInTime 1672 ⓘ
January 1672 ⓘ
precededBy fiscal strains of the Second Anglo-Dutch War ⓘ
relatedTo Third Anglo-Dutch War ⓘ
Treaty of Dover (1670) ⓘ
development of the English national debt ⓘ
emergence of the Bank of England ⓘ
significance key episode in the history of sovereign default ⓘ
turning point in the evolution of English state finance ⓘ
underTheReignOf Charles II of England ⓘ

How these facts were elicited

Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Sir Thomas Clifford → associatedWithEvent → Stop of the Exchequer (1672) ⓘ
Cabal ministry → significantEvent → Stop of the Exchequer ⓘ
linked to: Stop of the Exchequer (1672)
Stop of the Exchequer (1672) → alsoKnownAs → Stop of the Exchequer ⓘ
linked to: Stop of the Exchequer (1672)
Stop of the Exchequer (1672) → alsoKnownAs → suspension of Exchequer payments (1672) ⓘ
linked to: Stop of the Exchequer (1672)