British Losses on US RR Bonds?

[Brad De Long]

>How badly did British investors get burned on US railroad bond defaults?
>
>Did this mostly occur between 1880 and 1914?
>
>Did any British pension/life assurance companies go bust?
>
>Jason

Big questions that require a lot of digging to get good answers... :-)

I generally go to Michael Edelstein's book, _Overseas Investment in the Age
of High Imperialism_. There is also a very nice collection of essays on
international lending, foreign debt, and default in historical perspective.
I'm blanking on the title right now, but it was edited by Peter Lindert and
Barry Eichengreen...

Charles F. Adams's _Chapters of Erie_ remains a magnificent read...

Brad DeLong