INTERESTING HISTORICAL EVENTS.

King Country Chronicle, Volume V, Issue 344, 11 March 1911, Page 7

INTERESTING HISTORICAL EVENTS.

BANK OF ENGLAND ESTABLISHED. On July- 27, 1694, the Bank of England was founded. William 111., as tils champion of Protestantism, having struggled from boyhood against Louis XIV. of Prance, determined to put down his powei and raise the power of England. H. therefore entered into an alliance with Austria, Spain, and the Dutch against France. He was, however defeated at Steinkirk, and a land tax was levied to maintain the cost ■of the war. William's forces were again defeated fit Lamdsn, and mor€ money was necessary to again put the English Army in lighting condition. ■ Montague, a Commissioner oi the Treasury, suggested that a sum of £1,200.01)0 should be raised as a loan to the Government, for which interest should be paid at the rate of S per cent., and which the Government should guarantee. The subscribers of this £1,200,000 were formed into a corporation, known as the "Governor and Company of the Bank of England." A national bank was thus formed into which people put their money, and from which, at any time, the Government could draw supplies at the rate of 8 per cent., instead of borrowing from private individuals. Although connected at its formation, as well as at t.he present day, with the Government, the Bank is essentially a private institution, its Governor, Deputy-Gover-nor, and court of directors being appointed by the shareholders, and its stock is bought and sold in the same way as that of any joint-stock company. As a return for its services the Bank enjoys certain privileges, which have been renewed or modified with each successive renewal of its charter, which last took place in 1811. By an Act of Parliament then passed the Bank is allowed to issue notes to the amount of the gold held by the Bank, and to the additional amount of the Government's indebtedness to the Company.

CHAMFLAIM'S FIRST FIGHT WITH THE IROQUOIS INDIANS. In the month of June, 1609—three centuries since— Champlain and several Frenchmen commenced their ascent of Ihs Richelieu, with sixty Canadian Indians. For the first time Champlain ha 1 abundant opportunity to note the customs of the Indians on the warpath. The rarty passed into the beautiful lake which has ever since that day borne the great Frenchman's name. Paddling continuously for some nights alang the western shore, they reached on the evening of July 29, a point of land, identified in later date with the site of Ticouderoga, celebrated in the military annals of Amrrica. Here they found a party of Iroquois, who received them with shouts of defiance, but retreated to the woods for the night, with the understanding on both sides that the fuht would take place as soon as the sin arose in the morning. The allies remained in their canoes, dancing, singing, and hurling insults at their fo:s, who responded with similar d« menstrations. Next morning two hundred stalwart Iroguois warriors, led by three chiefs, with eonsncuoiis plumes, issued forth from the barricades of logs, and were met by the Canadian Indians. Champlain immedmtefy fired on the chiefs, two of them failing detv.l, and the' third, being wounded, too, died soon after. "Our Indians." writes Champlain, shouted triumphantly, and then the arrows began to fly furiously from both parties. The Iroquois were clearly amazed that the two chilis had been so suddenly killed, although they were protected from arrows by a sort of armour, made of strong "twigs and tilled with cotton. Wh le I was reloading, one of my men, unseen by the enemy, fired a shot from the woods, and so frightened the Iroquois, no longer led by their chiefs, that they lost courage, and fled precipitately into the forest, where we followed and succeeded in killing a number of them, and taking ten or twelve prisoners. On our side ten or fifteen were wounded, but they very soon recovered."