King William and Queen Mary's
1694 Royal Charter of the
Bank of England
followed the 1689 Glorious Revolution
when Parliament gained control
of financing the Kingdom
The Bank of England
did not require the Government
to repay loans as long as
the interest was paid
of modern times-
whereby governments
through taxes
The Bank's founding loan
was to fund a war with France
in the war of the Spanish Succession
bought £ 10,000
of the initial stock offering
for the Bank of England
English Kings and Queens
would receive dividends
from profits earned
including funding wars
Copyright: Guy Hawkins Powell River BC Canada 2022 reposted under Fair Use Doctrine - news - research - education - commentary