{"id":12651,"date":"2015-06-16T09:00:59","date_gmt":"2015-06-16T13:00:59","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=12651"},"modified":"2015-06-16T08:28:52","modified_gmt":"2015-06-16T12:28:52","slug":"the-oldest-debts-still-being-paid","status":"publish","type":"post","link":"https:\/\/www.Centives.net\/S\/2015\/the-oldest-debts-still-being-paid\/","title":{"rendered":"The Oldest Debts Still Being Paid"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2015\/06\/061615_1225_TheOldestDe1.jpg\" alt=\"\" width=\"641\" height=\"427\" \/><\/p>\n<p>On Reddit historians discussed the oldest debts still being paid:<\/p>\n<ul>\n<li>The loans that the British took out to fight Napoleon in the early 1800s are still being paid back.<\/li>\n<li>Debts related to the <a href=\"https:\/\/en.wikipedia.org\/wiki\/South_Sea_Company\">South Sea Company<\/a> of the early 1700s \u2013 a British public\/private partnership given monopoly over trade with South America \u2013 continue to be paid.<\/li>\n<li>But the oldest bonds still being serviced are likely those issued by a Dutch water board entrusted with maintaining the condition of local dykes in 1624, almost 400 years ago.<\/li>\n<li>The currency that this debt is paid in has changed from Carolus Guilders to Flemish Pounds to Dutch Guilders to Euros, tracing the rise and fall of empires.<\/li>\n<li>Many of these debts are set up as perpetuities \u2013 they will pay interest until the end of time \u2013 and so could continue to be paid for a long while yet.<\/li>\n<li>Usually such debts are taken out when the government can get abnormally low interest rates \u2013 for example when citizens buy war bonds in a patriotic fervour.<\/li>\n<li>In such cases inflation will quickly eat away at the value of the interest that has to be paid, making the debt a great deal for the government.<\/li>\n<\/ul>\n<p>Find the full discussion <a href=\"http:\/\/www.reddit.com\/r\/AskHistorians\/comments\/39kpre\/what_are_the_oldest_debts_still_being_payed_today\/\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/www.reddit.com\/r\/AskHistorians\/comments\/39kpre\/what_are_the_oldest_debts_still_being_payed_today\/\">Reddit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Reddit historians discussed the oldest debts still being paid: The loans that the British took out to fight Napoleon in the early 1800s are still being paid back. Debts related to the South Sea Company of the early 1700s \u2013 a British public\/private partnership given monopoly over trade with South America \u2013 continue to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"https:\/\/www.Centives.net\/S\/wp-content\/uploads\/2015\/06\/061615_1225_TheOldestDe1.jpg","_links":{"self":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=12651"}],"version-history":[{"count":3,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12651\/revisions"}],"predecessor-version":[{"id":12654,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/12651\/revisions\/12654"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/12650"}],"wp:attachment":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=12651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=12651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=12651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}