History of the British peerage much more common. The peerage ceased to be associated with wealth or land ownership. At the beginning of the century, however, such associations remained for some time. In 1909, Chancellor of the Exchequer David Lloyd George proposed the introduction of a land tax, which the landowning peers opposed. The House of Lords rejected the budget. After the general election of January 1910, the returned government introduced the Parliament Bill, which sought to curtail the powers of the Lords. When the Lords attempted to block the bill, the prime minister, Herbert Henry Asquith, threatened to have the king create two hundred
Stop of the Exchequer had earned a reputation for paying its debts, and in spite of Charles II's notorious extravagance and carelessness about money, the City of London was quite unprepared for the Stop. Stop of the Exchequer The Great Stop of the Exchequer or Stop of the Exchequer was a repudiation of state debt that occurred in England in 1672 under the reign of Charles II of England. Under Charles II the state finances were in such a grievous condition that the crown found itself no longer able to honour its debts. The stop occurred on Tuesday 2 January 1672. Payments were suspended