The resumption of the Dutch wars left King Charles II’s treasury unable to cover its bills in 1672—leading to the infamous Stop of the Exchequer, in which government suppliers and workers were told they could not be paid for the foreseeable future. It took decades to settle the claims produced by the Stop—and even then, the luckless lenders to the crown had to settle for just ten shillings to the pound, a cut of 50 percent of what they were due. Even
