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Founding of the Bank of England
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Founding of the Bank of England
Founding of the Bank of England - proposed by William Paterson, the Bank of England was formed with Sir John Houblon as its first Governor, initially located in Mercers Hall. Date: 1694
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Media ID 23265728
© Mary Evans Picture Library
1690s 1694 Bank Banking Business Commerce Debt Finance Financial Founding Governor Mercers Money Paterson Proposed Wigs Houblon
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EDITORS COMMENTS
This print commemorates the founding of the Bank of England in 1694, an event that would forever change the financial landscape of England and the world. Proposed by the visionary William Paterson, the Bank was established to address the pressing issue of the national debt amassed during the war with France. With Sir John Houblon as its first Governor, the Bank initially operated from Mercers Hall in London. The scene depicted here shows a group of distinguished gentlemen gathered around a table, deep in discussion, as they set the foundations for this groundbreaking financial institution. The men, all wearing ornate wigs and formal attire, exude an air of authority and determination. The Bank of England's founding marked a turning point in the history of finance, paving the way for the development of modern banking and monetary systems. This evocative print offers a glimpse into the past, transporting us back to the 1690s and the inception of this influential financial powerhouse.
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