The British pound was twenty shillings so effectively the pound was on a silver standard.

英国一英镑值二十先令,所以事实上，英镑是以银本位为标准的。

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We call them consols because, in the early 1700s, the British Government issued what they called consols or consolidated debt of the British Crown that paid a certain amount of pound sterling every six months forever.

我们称之为公债是因为早在十八世纪初,英国政府规定他们称之为英国皇家,统合公债或者联合公债,要求永久性地,每六个月支付一定数量的英镑

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Let's say that the British Government didn't say that they'll pay one pound per year, but it'll be one pound the first year, then it will grow at the rate g and it will eventually be infinitely large.

我们假设英国政府并没有说,他们会每一年支付一英镑,但它会是第一年支付一英镑,然后它会顺着利率g上涨,最后它就变成了无尽大的数目

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