consols

American  

[kon-solz, kuhn-solz] / ˈkɒn sɒlz, kənˈsɒlz /

plural noun

1. Sometimes consol the funded government securities of Great Britain that originated in the consolidation in 1751 of various public securities, chiefly in the form of annuities, into a single debt issue without maturity.

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consols British  

/ ˈkɒnsɒlz, kənˈsɒlz /

plural noun

1. Also called: bank annuities.  irredeemable British government securities carrying annual interest rates of two and a half or four per cent

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Etymology

Origin of consols

Short for consolidated annuities

Example Sentences

The fact that those in the US who have low incomes today have items - cell phones, credit cars, game consols, big screen TV, - that low income Americans of years ago never had.

From Economist • Nov. 26, 2013

The consols paid interest on an annual basis just like regular bonds, but with no requirement that the government ever redeem them by repaying the face value.

From Slate • Jan. 29, 2013

In 1752, Prime Minister Henry Pelham converted the entire outstanding stock of British debt into consolidated annuities that would become known as consols.

From Slate • Jan. 29, 2013

On the Rome Stock Exchange Italian consols rose over par.

From Time Magazine Archive

Pope was amongst the first of prosperous authors, and heads the clan of cunning fellows who have turned their lyrical cry into consols, and their odes into acres.

From Obiter Dicta Second Series by Birrell, Augustine