Chapter XL
Reading edition
CHAPTER XL
THE BANK OF ENGLAND
The Jews and the Lombards—The Goldsmiths the first London Bankers—William Paterson, Founder of the Bank of England—Difficult Parturition of the Bank Bill—Whig Principles of the Bank of England—The Great Company described by Addison—A Crisis at the Bank—Effects of a Silver Re-coinage—Paterson quits the Bank of England—The Ministry resolves that it shall be enlarged—The Credit of the Bank shaken—The Whigs to the Rescue—Effects of the Sacheverell Riots—The South Sea Company—The Cost of a New Charter—Forged Bank Notes—The Foundation of the "Three per Cent. Consols"—Anecdotes relating to the Bank of England and Bank Notes—Description of the Building—Statue of William III.—Bank Clearing House—Dividend Day at the Bank