The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1903-01-23
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ROMANCE IN HISTORY
OF BANK OF ENGLAND.
William Peterson, Its Founder,
Once q Privateer Com
mander.
QuELLED GORDON RIOTS
Clerks From Windows, Fire Upon Mob
With Bullets Made From Leaden
Inkstands-A Story Of Sarah
Jennings.
QUELLED GORDON RIOTS

lfsouth to Coleman street in the north
does not at first sight seem a likely
place for romance, and yet its 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 Mana
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 100000 as his share Of h gold
found on a n k Spanish galleon. It
was with this 100000 and the profit
derived from his buccaneering expedi-
ton that Paterson, banished to Hol-
land by James IL, M the implacable
enemy of all the Stuarts, found part
OF h 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, ard those who
know of the inside history of those
times doubt not that William III. was
indeed the moving spirit Of the scheme
n that Paterson was his official tool
n mouthptece at the weekly meetings
i or famous gatherings. of fnanciers
known as the Wednesday club.
Cannot Lend Money to King.
Il F& "AAA Gso SoSoD1lCS Va lildls
! day to denounce the bank as a revolu-
tionary institution through which all
the wealth Of the nation woul go into
the hands of the sovereign. The only
concession that the tory indictments
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 the 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. Crossing the
channel In the teeth Of a fierce storm
drafts for the aid Of King William, at
that time beslegtng Namur against the
forces OF the Fourteenth Louis, Cod
frey insisted on his right to deliver the
warrant for the honey into the hands
of the king, who was hen in the
trenches under a hot fire. And as, with
humble obedience, he HANDED the paper
to his taciturn majesty, saying in re-
spouse to the kings gruff ~remonstrance,
Am I more exposed to danger than
you, sir" a cannon ball swept his head
away. rs
Over the massive fireplace in the d.
%rectors' room stood, some years ago,
three rusty specimens of the old Brown
Bess, together with a number of rough
ly shaped bullets. In these relics is en-
bodied a picture Of hat dreadful night
in the November of 1880, when the mob
of Gordon rioters marched down from
Newgate, setting fire to every Catholic
chapel on the line of march and adj
Yancing with a force Of 5000 men upon
the bank.
Melted lnkstands for Bullets.
Then 1t was that the clerks, armed
with muskets, remembered that they
were ~unprovided with shot. Before
them lay rows Of leaden inkstands,
mutely suggesting the possibilities of a
tnkstands had been melted and turned
into bullets.
The muskets were loaded. At every
window of the bank stood two marks
men,, their guns trained on the crowd
below. Yet the mob came on, never
hating, never hesitating, Until they
were within ten yards of the bank
gates, n then, sharp and clear above
the pandemonium OF yelling, was heard
the order to fire.
From those windows poured a deadly
volley, and when the smoke finally
cleared away two hundred and fifty
rioters lay still or writhing in the
agony Of mortal wounds On the open
Space now covered by the esplanade
OF the Royal Exchange.
The attacking army wavered,
stopped, broke line and fed, and the
Gordon riots were at an end.
In the early days of George II. 1t was
the custom Of all banks to give a re-
ceipt in payment of a deposit, the re-
ceipt being passed from hand to hand
and serving the same purpose as the
check of today.
The growing power Of Childs', a pri-
vate bank, which at that time had the
backing Of half the English nobility,
had become a matter of serious alarm
to the Bank OF England, whose notes
were at a discount of 10 per cent. And
so, little by little. through the
agents. the managers of the Bank of
ing the name of Chi.ds' bank, per-
hitting the collections to accumulate
with each succeeding year until the
time should be ripe, during a short
age of gold, to present the receipts in
one vast mass for payment. 1t was
figured to be a certainty that ChIlds
would not be able to meet the demand
and would thus be crushed out OF ex-
iStence
Happy for Childs was it that one of
h Bank OF England's agents, oVer the
bottle. let slip the secret.
And now at Blenheim they tell the
story of that famous night one hundred
changing Of the bell at the great gate
awakened the people Of the village,
and Of a white-faced, travel stained
man staggering into the hall and
brokenly e~ntreating an audience Of her
grace the duchess-none other than the
famous Sarah Jenntngs-for in her the
bank found its most powerful friend
and patron. Down came the indom-
table Sarah in her dressing gown to
receive the visitor and demand his ex-
cuse for disturbing her peace.
Your grace" began the messenger,
the Bank Of England holds our re-
ceipts for a62o.oo0 (s3, loo, OOo.) Those
receipts Will be presented for payment
at noon today: we have not gold
enough to meet them. Unless we can
answer he demand in eight hours we
are ruined. There is al one person in
this world who can ssve us-you, our
patron, and to o we turn in our
aeed."
Check for 100000.
Without a word the duchess sat down
at har writing table and wrofo n,t q