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Goschens


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A colloquial name for consols after their conversion from 3 to 2 3 4 per cent by G. J. Goschen (Chancellor of the Exchequer) in 1888 (later to 2 1 2).

Goschen had been appointed as Chancellor in 1886 when Lord Randolph Churchill suddenly resigned the office; Churchill afterwards said ruefully, ‘All great men make mistakes. Napoleon forgot Blücher, I forgot Goschen.’


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