TeachMeFinance.com - explain William Paterson
William Paterson -- William Paterson was the original projector
of the Bank of England. He was born in Scotland in
1658 and died in London in 1719. The plan for the Bank of
England was presented by him to the government in 1691 and
the charter of the bunk was issued July 27, 1694. He was a
director of the bank for a single year only.
He also projected a plan for colonizing the Isthmus of
Darien by the formation of a company called the "Company
of Scotland for trading to Spain and the Indies." He
joined the ill-fated expedition which set out from Scotland
to Darien in 1698. He returned home in 1699 and in 1700 removed
to London, He was afterwards a member of Parliament.
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