History of the British national debt both government borrowing and the national debt have risen dramatically, reaching around 70% of GDP by the end of 2012. The origins of the British national debt can be found during the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt. This syndicate soon evolved into the Bank of England, eventually financing the wars of the Duke of Marlborough and later Imperial conquests. The establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694, to the plan which had been proposed by
Political and military events in Scotland during the reign of David I Political and military events in Scotland during the reign of David I Political and military events in Scotland during the reign of David I are the events which took place in Scotland during David I of Scotland's reign as King of Scots, from 1124 to 1153. When his brother Alexander I of Scotland died in 1124, David chose, with the backing of Henry I of England, to take the Kingdom of Alba for himself. David was forced to engage in warfare against his rival and nephew, Máel Coluim mac Alaxandair. Subduing the latter took David ten years, and involved the