London in the Time of the Stuarts by Walter Besant

Author:Walter Besant [Besant, Walter]
Language: eng
Format: epub
Tags: Nonfiction, Religion & Spirituality, New Age, History, Fiction & Literature
ISBN: 9781465629043
Google: ShM1Jo30Ib0C
Publisher: Library of Alexandria
Published: 2020-03-16T04:00:00+00:00

By the charter they constituted a Governor, who must have £4000 in Bank stock; a Deputy Governor, who must have £3000; and twenty-four Directors, who must have £2000 each.

The Bank, although a year or two after its foundation its utility was fully recognised by merchants, did not command complete confidence for many years. Pamphlets were written against it. They were answered in 1707 by Nathaniel Tench, a merchant. The defence is instructive. Maitland sums it up:—

“The chief purpose of this defence was to vindicate a corporation, and the management thereof; not so much from crimes they had already been guilty of in the experiment of eleven or twelve years, as the fear of what they might do hereafter.”

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