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Bank of England Chart (Provisional) - Discuss...
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<blockquote data-quote="mystic777" data-source="post: 87313" data-attributes="member: 7526"><p><strong>UPDATE:</strong></p><p> </p><p>Received the following informaiton from a Bank of England employee:</p><p> </p><p><span style="font-family: 'Times New Roman'">Thank yo</span><span style="font-family: 'Times New Roman'">u</span><span style="font-family: 'Times New Roman'"> for yo</span><span style="font-family: 'Times New Roman'">u</span><span style="font-family: 'Times New Roman'">r enquiry concerning the Bank of England. We can help you with dates, but timings, I'm afraid, are a little beyond even what we have in our records! Days, months and years are what we go by.</span></p><p></p><p><span style="font-family: 'Times New Roman'">Perhaps I might begin, however, by providing a little background on the subject of the Bank’s premises in general. </span></p><p></p><p><span style="font-family: 'Times New Roman'">As you may know, the Bank of England was founded in the year 1694 to help finance a war between King William III of </span><span style="font-family: 'Times New Roman'">England</span><span style="font-family: 'Times New Roman'"> and Louis XIV of </span><span style="font-family: 'Times New Roman'">France</span><span style="font-family: 'Times New Roman'">. At the time, there were calls for a national or public bank to mobilise the nation's resources. Many schemes were proposed. The successful one, from William Paterson, envisaged a loan of £1,200,000 to the Government, in return for which the subscribers would be incorporated as the "Governor and Company of the Bank of England". Although the new bank would have risked its entire capital by lending it to the Government, the subscription proved popular. Within a few weeks, over a thousand people duly subscribed £1,200,000 and, as a result, the Bank opened its books for business at Mercer’s Hall, </span><span style="font-family: 'Times New Roman'">Cheapside</span><span style="font-family: 'Times New Roman'">, on </span><span style="font-family: 'Times New Roman'">27 July 1694</span><span style="font-family: 'Times New Roman'">. The staff of 17 clerks and 2 doorkeepers were chosen on 30 July and work started on 1 August. The Royal Charter itself was sealed on </span><span style="font-family: 'Times New Roman'">27 July 1694</span><span style="font-family: 'Times New Roman'">, and the Bank started its role as the Government's banker and debt-manager, which it continues today. Interestingly, the £1,200,000 concerned was the beginning of the National Debt..."</span></p><p></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">See:</span></span></p><p></p><p><span style="font-family: 'Times New Roman'"><a href="http://www.bankofengland.co.uk/monetarypolicy/remit.htm" target="_blank"><span style="font-size: 12px"><span style="color: #0000ff"><strong>http://www.bankofengland.co.uk/monetarypolicy/remit.htm</strong></span></span></a></span></p><p></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">and click on that of the above date ('The New Monetary Policy Framework'). The new Bank of England Act 1998 incorporating the change to the Bank's status came into being on 23 April of that year. Please see:</span></span></p><p></p><p><span style="font-family: 'Times New Roman'"><a href="http://www.bankofengland.co.uk/about/legislation/legis.htm" target="_blank"><span style="font-size: 12px"><span style="color: #0000ff">http://www.bankofengland.co.uk/about/legislation/legis.htm</span></span></a></span></p><p></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">an click on 'the 1998 Act'.</span></span></p><p></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">Hope this might be of some interest and a source for future inspirations.</span></span></p><p></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">Best wishes for Peace Profound,</span></span></p><p></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">Mystic</span></span></p><p> </p><p> </p><p><em>[Moderator note - In accordance with the Forum's Copyright Rules, the quoted/copied text has been pruned.]</em></p></blockquote><p></p>
[QUOTE="mystic777, post: 87313, member: 7526"] [B]UPDATE:[/B] Received the following informaiton from a Bank of England employee: [FONT=Times New Roman]Thank yo[/FONT][FONT=Times New Roman]u[/FONT][FONT=Times New Roman] for yo[/FONT][FONT=Times New Roman]u[/FONT][FONT=Times New Roman]r enquiry concerning the Bank of England. We can help you with dates, but timings, I'm afraid, are a little beyond even what we have in our records! Days, months and years are what we go by.[/FONT] [FONT=Times New Roman]Perhaps I might begin, however, by providing a little background on the subject of the Bank’s premises in general. [/FONT] [FONT=Times New Roman]As you may know, the Bank of England was founded in the year 1694 to help finance a war between King William III of [/FONT][FONT=Times New Roman]England[/FONT][FONT=Times New Roman] and Louis XIV of [/FONT][FONT=Times New Roman]France[/FONT][FONT=Times New Roman]. At the time, there were calls for a national or public bank to mobilise the nation's resources. Many schemes were proposed. The successful one, from William Paterson, envisaged a loan of £1,200,000 to the Government, in return for which the subscribers would be incorporated as the "Governor and Company of the Bank of England". Although the new bank would have risked its entire capital by lending it to the Government, the subscription proved popular. Within a few weeks, over a thousand people duly subscribed £1,200,000 and, as a result, the Bank opened its books for business at Mercer’s Hall, [/FONT][FONT=Times New Roman]Cheapside[/FONT][FONT=Times New Roman], on [/FONT][FONT=Times New Roman]27 July 1694[/FONT][FONT=Times New Roman]. The staff of 17 clerks and 2 doorkeepers were chosen on 30 July and work started on 1 August. The Royal Charter itself was sealed on [/FONT][FONT=Times New Roman]27 July 1694[/FONT][FONT=Times New Roman], and the Bank started its role as the Government's banker and debt-manager, which it continues today. Interestingly, the £1,200,000 concerned was the beginning of the National Debt..."[/FONT] [FONT=Times New Roman][SIZE=3][/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]See:[/SIZE][/FONT] [FONT=Times New Roman][URL="http://www.bankofengland.co.uk/monetarypolicy/remit.htm"][SIZE=3][COLOR=#0000ff][B]http://www.bankofengland.co.uk/monetarypolicy/remit.htm[/B][/COLOR][/SIZE][/URL][/FONT] [FONT=Times New Roman][SIZE=3]and click on that of the above date ('The New Monetary Policy Framework'). The new Bank of England Act 1998 incorporating the change to the Bank's status came into being on 23 April of that year. Please see:[/SIZE][/FONT] [FONT=Times New Roman][URL="http://www.bankofengland.co.uk/about/legislation/legis.htm"][SIZE=3][COLOR=#0000ff]http://www.bankofengland.co.uk/about/legislation/legis.htm[/COLOR][/SIZE][/URL][/FONT] [FONT=Times New Roman][SIZE=3]an click on 'the 1998 Act'.[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]Hope this might be of some interest and a source for future inspirations.[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]Best wishes for Peace Profound,[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]Mystic[/SIZE][/FONT] [I][Moderator note - In accordance with the Forum's Copyright Rules, the quoted/copied text has been pruned.][/I] [/QUOTE]
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Bank of England Chart (Provisional) - Discuss...
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