TREASURY BILLS: HISTORICAL NOTE

May 17, 2010 at 6:55 am | Posted in Books, Financial, Globalization, History, Research, United Kingdom, USA | Leave a comment

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In the United States, the history of the treasury bill dates back to December 1929.

In his An Economic History of England 1870-1939, Professor William Ashworth explains the rise of the T-bill in England as follows:

“The introduction in 1877 of a new class of paper, Treasury bills, to meet some of the short-term financial needs of the government, promised to do something to offset the increased competition for international bills, but only in the last decade before 1914 were Treasury-bills used at all abundantly.”

An Economic History of England 1870-1939

Methuen & Co. Ltd 1969

Page 169

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