The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1903-01-23
ROMANCE in HISTORY
OF BANK OF ENGLAND
William Peterson, Its Founder,
Once a Privateer Com
mander.
OUELLED GORDON RIOTS
Clerks From Windows, Fire Upon Mob
With Bullets Made From Leaden
Inkstands-A Story of Sarah
Jennings.
QUELLED GORDON RIOTS

New York World: The Bank OF
England-that rambling, ramshackle
loose-jointed structure Of gray stone,
~blackened by centuries OF London
smoke, London CRIME, and London
SCOT, and forming an almost complete
square from Threadneedle street in the
south to Coleman street in the north
does not at first sight seem a likely
place for romance, and yet it's history
teens with stories Of love, hatred, am
bition, rascality and adventure.
William Paterson, who at n time
of his life had controlled every priva-
teer than ran the Spanish Mania
grim, black-muzzled Scotchman-was
the founder Of the bank. He laid the
foundation of his fortune in the buying
and selling of slaves and the clearing
Of G100, 600 as his share of the gold
found on a sunken Spanish galleon. 1t
was with this G100, 900 and the profit
derived from his b~uccaneering expedi-
ton that Paterson, banished to Hol-
land by James H., n the im~placable
enemy of all the Stuarts, found part
OF the money for the prince of Oranges
expedition across the Boyne.
Concurrently with the advent Of Will
liam III. on the throne of England the
first plans for the foundation of a ma
tional bank were made, and those who
know Of the inside history of those
times doubt not that William III. was
indeed the moving spirit of the scheme
and that Paterson was his official tool
n m~outhpiece at the weekly meetings
or. famous gatherings of fihanciers
known as the Wednesday club.
Cannot Lend Money to King.
Vain vas it for the %Jacobites Of that
day to denounce the bank as a revolu-
tionary institution through which all
the wealth of the nation would go into
the hands of the sovereign. The only
concession hat the tory m~alcontents
We're able to obtain from the govern
ment was a law that remains in force
to this day-that the bank should not
lend money to h king or the govern
ment except by consent of both houses
of parliament.
Blood red in the annals Of the bank
lives the story Of Charles Walter God
frey, partner Of Paterson. Crossingthe
channel in the teeth of a fierce storm
and laden with 100000 &30O, O00) in
drafts for the aid of King William, al
that time besieging Namur against the
forces of the Fourteenth Louis, God.
frey insisted on his right to deliver the
warrant for the money into the hands
of the king, who was then in Tho
tlCiiCllGo uIlucl d klOl llIe. AIlug DIS, VIII
humble obedience, he handed the pape,
to his taciturn majesty, saying in re,
Spouse to the kings gruff remonstrance
Am I more exposed to danger thai
you, sir?" q cannon ball swept his heat
away.
Over the massive fireplace in the di
r%ectors' room stood, some years age
three rusty specimens of the old Brow
Bess, together with a number Of rough
/ ~. oh n ,nJ .I,,11atp T y, fInco r,a1s -, ,~so,S.
bodied a picture Of that dreadful nigh
in the November of 1880, when the mo
of Gordon rioters marched down from
Newgate, setting fire to every Catholi
chapel on the line of march and ad
Vancing with a force of 5000 men upo,
the bank.
Melted Inkstands for Bullets.
Then it was that the clerks, arme
with muskets, remembered that the,
were unprovided with shot. Befor
them lay rows Of leaden inkstands
mutely suggesting the possibilities of
new use. In less than half an hour tn
inkstands had been melted and turne
into bullets.
The muskets were loaded. At ever
window of the bank stood wv marks
Z men, their guns trained on the crow
below. Yet the mob came on, neve
hating, never hesitating, until the
were within ten yards of the ban
gates, and then, sharp and clear abov
the pandemonium Of yelling, was hear
the order to fire.
From those windows poured a deadl
volley, and when the smoke finall
cleared away two hundred and fit
rioters lay still or writing in tn
agony of mortal wounds on the ope
space now covered by the esplanad
of the Royal Exchange.
The attacking army waveret
stopped, broke line and fed, and tn
4 Gordon riots were at IN end.
In the early days of George II. it wa
the custom Of all banks to give a re
ceipt in payment of a deposit, the re
ceipt being passed from hand to han
and serving the same purpose as til
check Of today.
The growing power Of Childs', q pr
vate bank, which at that time had tn
backing of half the English nobilit
had become a matter of serious alarl
to the Bank Of England, whose note
were at a discount Of 10 per cent. An
so, little by little, through tt
agents. the managers of the Bank {
England bought up every receipt beal
ing the name of Chi.ds' bank, pei
hitting the collections to accumulat
with each succeeding year until tt
time should be ripe, during a short
age of gold, to present the receipts
one vast mass for payment. It we
figured to be a certainty that ChiIt
would not be able to meet the demar
and would thus be crushed out Of e,
istence.
Happy for Childs was it that one
the Bank OF England's agents, over I'll
y bottle, let slip the secret.
And now at Blenheim they tell Il
story OF that famous night one hindre
and fifty years ago when the wi
changing of the bell at the great ga
awakened the people of the villag
and of a white-faced, tr~avel-staint
man staggering into the hall al
brokenly e%ntreating an audience OF h
grace the duchess-none other than ii
famous Sarah bennington In her II
bank found Its most powerful frie1
and patron. Down came the indon
liable Sarah in her dressing gown
receive the visitor and demand his e:
cuse for disturbing her peace.
Your grace" began the messenge
1the Bank Of England holds our i
ceipts for s620,0 600 (S3,l 00,0 00.) Tho
receipts will be presented for payne
atsnoon today. we have not go
enough to meet them. Unless we Ct
answer the demand in eight hours i
are ruined. There is bat one person
this world who can save us-you, d
pafron, and t YOU we tnr In d