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Comparing United Kingdom In The 19th Century And US

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Usually, different countries have different circumstances that can affect their economic development. However, United Kingdom in the 19th century and United States in the 20th century have almost the same economic history background. In the early 19th century, Britain had suffered through nearly 25 years of war against the Napoleon’s France. Napoleonic Wars started in 1973 to 1815 and had major economic effects such as large price effects, inflation, and seriously in debt (O’Rourke, 123). Napoleonic Wars was an example of wartime finance in history because war expenditures were paid through borrowing. Britain borrows substantial cheap credit to finance the war that had a low interest compared to France (Bordo and White, 1). Therefore, after

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