4min chapter

The Rest Is History cover image

347: The American Revolution (Part 1)

The Rest Is History

CHAPTER

The Debt of the British Empire

Britain's debt at that point 1763 is 137 million pounds. And the interest alone on that debt is five million pounds a year. Before the war, Britain's annual peacetime budget had been eight million pounds per year. The last thing they need are continual trouble from their white colonists in the 13 colonies. They're very under taxed and have lots of cheap land. What do they need more in the higher river valley for?

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