Complex sentence: The establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694, the plan of 1691 which had been proposed by William Paterson three years before, but not acted upon.
Split into simpler sentences: The establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694. Calendar Of State Papers Domestic Series p.73 1636-1637 The plan of 1691 which had been proposed by William Paterson three years before, but not acted upon.