BANK OF ENGLAND.
The Bank of England is 185 years old on the 27th of the coming July, having received its charter of incorporation at that date, and having been projected by William Paterson, a Scotchman'. Constituted as a joint stock company, with a capital of £1,200,000, the whole sum was lent at interest to the Government of William and Marv, then much embarrassed. At the outset it was a servant of the State, and has ever since continued such more ob less. The charter, granted at first for 11 jears, has been granted from time to time renewed, the last renewal, subject to modification or revocation, having been in 1844. For a while the business was done in one room;now the bank occupies, as everybody knows, a largo building in Thread needle-street, and employs some 800 men. Nothing less than a£s note is ever issued, a second time. The average amount of notes in circulation is £25,000,000.
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Bibliographic details
Wairarapa Standard, Volume 9, Issue 906, 29 April 1879, Page 2
Word Count
158BANK OF ENGLAND. Wairarapa Standard, Volume 9, Issue 906, 29 April 1879, Page 2
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