CHAPTER XL

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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 453

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