Consols are a type of government bond that was issued by the British government. They are known for being perpetual, meaning they do not have a fixed maturity date and pay interest indefinitely. Investors receive regular interest payments, known as coupons, which can provide a steady income stream. Originally introduced in the 18th century, consols were used to help finance government debt. They became popular among investors seeking a reliable source of income. Over time, the use of consols has declined, but they remain an important part of financial history and are often referenced in discussions about government securities and public finance.