The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1912-07-26
BANK OF ENGLAND
Tragic and Romantic Episodes In
Its Historic Career.
DEADLY BATTLE WITH A MOB
The Bloody Climax to tho Attempted
Raid by the Lord Gordon Rioters-A
Financial Coup That Was Spoiled by
the Duchess Of Marlborough.

10 the Bank of England, the "Old Lady
Of Threadneedle Street"
One Of the bloody episodes in the his
tory OF the bank Is that embraced In
the story of Charles Walter Godfrey,
one Of its early partners In the bank.
1t appears that Godfrey while crossing
the channel In the midst OF a terrific
storm and laden with 100000 in drafts
for the aid of King William. who was
| Just then besieging Namur against the
| forces OF Louis XIV, insisted upon his
| right to deliver the warrant for the
money into the hands of the king, then
! In the trenches under hot fire. AS he
handed the document to the king, say
ing, In response TO Williams growl Of
remonstrance. "Am |. then, more ex'
posed TO danger than your majestyT
u cannon ball swept away his head.
Not so very many years ago there
stood over the massive fireplace in the
| directors room of the bank three rusty
specimens of the old Brown Bess," to-
gether with number Of roughly
shaped bullets. In these relics was en-
bodied picture Of the November night
I'm 1880 when the mob Of Gordon riot
ers marched down from Newgate, set
ting fire TO every Catholic chapel on
the way and advancing with force OF
5000 upon the bank itself.
The clerks, armed with muskets,
were unprovided with shot. Before
10 ~ fnl lyato o mr.
suggesting the possibilities OF new
use In less than half an hour the ink
stands had been melted and turned
into bullets. The muskets were load
ed At every window of the bank
stood two marksmen, their guns train
ed on the mob below. Yet the rioters
came on until they were within ten
yards OF the bank gates. Then sharp
and clear above the frightful din rose
the order to are and from the win
dows poured deadly volley. When
the smoke finally cleared away 25O
lay dead or dying In the open space
now covered by the esplanade OF the
Royal Exchange. The attacking army
wavered stopped, broke line and fled.
and the Gordon riots were at an end.
During the first part Of the reign or
George III. It was the practice q all
banks TO give n receipt In payment or
deposit, the receipts being passed
from hand to hand and serving the
same purpose as the check OF today.
At that time Childs' bank, private
concern. which had the backing or
great part Of the English nobility. ex-
hiblted such signs Of future greatness
that the Bank Of England became
greatly alarmed, especially In view or
the fact that the "Old Lady's" notes
were at discount OF 10 per cent So
little by little, through their agents
the managers OF the Bank of England
bought up every receipt bearing the
Childs signature. allowing the collec-
tions TO accumulate each year until the
time should be ripe, during shortage
of gold. to present the receipts In one
great mass for payment. 1t was deem
cd certainty that Chllds would not
be able to meet the demand and would
thus be ruined.
The principal figure in the drama
that ensued was no other than the IA
nous Sarah jennings, in whom Childs
bank found its stanchest supporter.
One night there came wild changing
at the bell Of the great gate OF the
town of Blenheim-a changing that soon
awakened every one in the town. A
white faced, travel stained man stag
gered into the ducal hall, begging an
audience with her grace. When the
duchess. in her dressing gown, appear
ed, demanding to know the reason Tor
this unseemly visitation, the man eX-
plained that the Bank of England held
the Childs' receipts In the amount OF
100000, that those receipts would bC
presented for payment at noon follow
ing. that there was not nj ChildS
enough gold TO meet them, that I'M.
less the demand could be satisfied with.
I'm eight hours Childs' was ruined and
that there was but one person In the
world-her grace-to whom they might
turn.
Whereupon the redoubtable duchess
sat down and wrote out check, which
she handed TO the agent. II was an
order on the Bank of England for the
payment OF 100000. He was instruct
ed TO take this check To the Bank OF
England and to say that IL II hesitated
for a single instant In paying IL the
duchess would proclaim 1t as a de-
faulter
At - o'clock that day there appear.
ed at the Childs' counter an agent OF
the Bank of England bearing a big bag
ful of receipts and blandly suggesting
immediate payment. At the same mo.
ment the Childs' agent was in Thread
needle street receiving cash on the
check of the duchess
The cashiers at Childs' naturally took
their own time I'm scrutinizing the re-
ceipts, spending fully half an hour over
the first batch alone. They were at the
end OF the first hundred when their