British government bonds that pay a fixed interest rate indefinitely with no maturity date (short for 'consolidated annuities').
Short for consolidated annuities, financial instruments created by the British government in the 18th century. The term reflects how multiple smaller government debts were consolidated into one security.
Consols are the financial version of 'forever'—investors could buy them and collect interest literally forever with no redemption date, making them oddly popular during Britain's imperial peak.
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