\Con"sols\ (? or ?; 277), n. pl. [A contraction of
consolidated (annuities).]
The leading British funded government security.
Note: A considerable part of the public debt of Great
      Britian, which had been contracted in the form of
      annuities yielding various rates of interest, was, in
      1757, consolidated into one fund at 3 per cent
      interest, the account of which is kept at the Bank of
      England. This debt has been diminished and increased at
      different times, and now constitutes somewhat more than
      half of the entire national debt. The stocks are
      transferable, and Their value in the market constantly
      fluctuates; the price at any time being regarded as a
      gauge of the national prosperity and public confidence.