Answer:
Bonds are financial instruments that represent a loan made by an investor to a borrower, typically a corporation or government entity.
The English government began issuing bonds in the late 17th century to finance their war efforts against France. The Bank of England was founded in 1694 to help finance the government's war efforts and one of its primary functions was to issue government bonds, known as "gilts," to investors.
Today, governments around the world continue to issue bonds as a way to finance their operations and investments.
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