Establishment of the Bank of England
The need for a privately owned central bank was fronted by a retired
pirate, William Paterson, when he wrote a pamphlet in 1693 entitled A Brief Account of the Intended Bank of England. He would later boast that this Bank “hath the benefit of interest on all moneys which it creates out of nothing.” On Thursday, 21 June 1694
subscription lists for the Bank, which had a capital of £1,200,000 were
opened. By the following Monday this amount had been fully subscr
[more]
bitfeed