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William Paterson (banker)

From Academic Kids

William Paterson (born 1665 or 1658 in Skipmyre, Dumfriesshire - died in Westminster on January 22, 1719) was a Scottish trader in London. He made his Fortune with Foreign Trade in the Merchant Taylors' Company, and from 1691 onwards he was one of the driving forces in the establishment of the Bank of England (1694). He was also connected with the failed attempt to establish the Scottish colony of Darien in Central America. Paterson supported the Union with England in 1707 as he saw it as a way to cope with the humangous debt following the colony debacle.


Quotes


"The bank hath benefit of interest on all moneys which it creates out of nothing."


See also


Saxe Bannister


External Links

Famous Americans - William Paterson (http://www.famousamericans.net/williampaterson/) (most Information here) Great Scotsmen - William Paterson (http://www.firstfoot.com/Great%20Scot/williampaterson.htm) Famous Scots - William Paterson (http://www.rampantscotland.com/famous/blfampaterson.htm)


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