It is a wonderful story of pirates, treasure, daring, imagination, and revolution. Not to mention dollops of heroism, optimism, and a fair bit of cheating.
Val Hamilton
A lot of history is about interesting people been lucky. This is particularly true in the history of finance. The founding of the Bank of England is one such chapter. A chapter that can be reduced one event – a lucky dip on the last day of an expedition to find a sunken galleon full of treasure. (true story)
Entrepreneurs are dependent on the times providing them with opportunities. [William] Paterson had the ability, courage, or arrogance) to ride the tide of the time.
Val Hamilton
Val Hamilton’s latest book, published by Chronos Books, documents the circumstances that led to the creation of one of the main pillars of the world’s financial system in the late-17th century. This was a revolutionary time in England, as it recovered from civil war and went through regime change of high significance under the name of a “glorious revolution.” Its enough to fill your history fix.
The English tend not to think of themselves as revolutionaries. That riotous behaviour is for the French. There is a view that the English respect authority, hierarchy, and the monarchy. This image is somewhat belied by the fact that in 1660 the aforesaid English chopped of the head of Charles I ….
Val Hamilton
I like to say more, but that’ll be revealing too much content from this book. Otherwise why would you buy it?
But one thing I would say is that the founder of the bank of England, William Paterson, also played a big role in Scotland losing its national independence and uniting with England. Been a Scot myself, this last bit was a significant interest to me.
I recommend this reading for those curious about the existence of the Bank of England, late-17th century England, as well as how the act of union of 1707 happened.
Pirates, Punters, and Politicians: How the Bank of England Was Founded is on sale now.
Review by Gordon Wallace
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