Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1912-08-02
BANK OF ENGLAND
Tragic and Romantic Episodes in Its
Historic Career.
CHRISTIE BENET,
Secretary

/
| Historic Career.
No other banking institution has SO
romantic history as that pertaining
to the Bank Of England, the "Old Lady
Of Threadneedle street."
One Of the bloody episodes in the
history Of the bank is that embraced
in the story of Charles Walter God
frey, 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 beseiging Namur
against the forces Of Louis XIV, in
sisted upon his right to deliver the
warrant for the money into the hands
| of the king, then In the trenches un-
der hot fire. AS he handed the docu-
ment to the king, saying, in response
to Williams growl Of remonstrance
lam I, then, more exposed to danger
Than your majesty" a cannon Dali
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
Eess," together with number OF
roughly shaped bullets. In these rel
| les was embodied a picture OF the NO
yember night in 1880 when the mob
of Gordon rioters marched down from
Newgate, setting 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
them lay rows of leaden inkstands,
suggesting the possibilities Of a 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 pank
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 fire, and from the win
dows poured a deadly volley. When
the smoke finally cleared away ESQ lay
dead or dying in the open space now
covered by the esplanade of the Royal
Exchange. The attacking army waV-
cred, stopped, broke line and fled and
the Gordon riots were at an end.
During the first part Of the reign of
George II. 1t was the practice OF all
banks to give a receipt in payment OF
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-
hibited such signs Of future greatness
that the Bank Of England became
greatly alarmed, especially in view OF
the fact that the "Old Lady's" notes
were at a discount Of ten 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
ed a certainty that Childs would no.
be able to meet the demand anu
would thus be ruined.
The principle figure in the drama
that ensued was no other than the IA.
nous Sarah Jennings, in whom Chllds
bank found it's 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 everyone in the town.
A white faced, travel stained man
staggered into the ducal hall, begging
an audience with her grace. When
the duchess in her dressing gown. ap-
peared, demanding to know the reason
for this unseemly visitation. the man
explained that the Bank of England
held the Childs receipts In the amount
Of 100000, that those receipts would
be presented for payment at noon
following, that there was not at Childs'
enough gold to meet them, that un-
less the demand could be satisfied
within 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. 1t was an
order on the Bank Of England for the
payment Of 100000. He was instruct
ed to take this check to the Bank or
England and say that If it hesitated
for a single instant in paying 1t the
duchess would proclaim 1t as a de-
faulter.
At II o'clock that day there appear
ed at the Childs' counter an agent Of
the Bank of England bearing big bag
full 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 in scrutinizing the
receipts. spending fully half an hour
over the first batch alone. They were
at the end Of the first hundred when
their messenger arrived. Then they
quickened the procedure a little, and
within ten minutes the Bank Of Eng
land had been paid in it's own coin.
The net result was that Childs was
many thousands Of pounds richer
Harper's.
I4Gf. h1nr,nhnrn Of tho staff of the