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

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

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

For 23 years from 1886 to 1909 British Government consols, a taxable security, never sold to yield more than 3%.

From Time Magazine Archive

The cornice is decorated with dentils, 'bead-and-reel,' projecting consols, 'egg-and-dart,' and leaves of acanthus.

From Byzantine Churches in Constantinople Their History and Architecture by Van Millingen, Alexander