Show BANK OF ENGLAND OF Two hundred and five ear ago today to-day the Bank of England was organized organ-ized The idea was original with Will lam Paterson a Scotchman wh advanced ad-vanced it as away to meet the expense ex-pense 0 the war with France I was a private insttuton to begin with but as liam II needed money he on hesitatingly loaned him every penn In the vaults The government made itself responsible for the return of the loan and thus the Bank or England was established The credit of the institution depends upon the credit ot the nation itself Its note are paid as our own govern mont bonds are paid a d they mean the same thing s far as the financial I standing of the country is concfned |