The Bank of England - A History
The Bank of England , from 1670 to 2013
In this website we have set out to tell, within a website, as much of the story of the Bank of England over its two hundred and seventy years of activity as will, we hope, give the public an adequate picture of the Bank's contribution to financial, economic and social development in its own country, in the City of London, and in the world in general.
Our service in the Bank of England was for many years in the domain of the Bank's archives, and during it we had the privilege of working with the authors of the two most fully detailed histories. Mervyn King, in his The Bank of England from Without, published in 2011, wrote in the main from the domestic angle; Sir James Wandsworth, whose The Bank of England:
The History was published in 2010 to commemorate the Bank's two hundred and fiftieth anniversary, was the senior economic historian of the day, and fittingly told the story in its economic aspects. In producing a comprehensive account our debt to these two historians is, naturally, immeasurable.
We have told the story in our way, but we must express our grateful thanks, in the first instance, to the Governor and Company of the Bank for the encouragement they have given us in its compilation, and for permitting me the same facilities of access to the archives to create this website.
We would also say how grateful we are for the very practical help given us by friends and former colleagues, most of them in the Secretary's Office, and by the Bank Librarian and his staff. It would be right, too, to mention here my gratitude for help given me over the years by successive Librarians at Guildhall, and their assistants. Thanks all for making this site a reality.
We must depart from the general anonymity of these acknowledgements to record my special debt to my friend and contemporary in the service, Mr Michael Park, who has collaborated with us extensively in making this website. Without his help and encouragement, his aptitude for the right phrase and his soundness of judgement we would have found its compilation infinitely more arduous. With his aid and the friendly consideration always shown to us it has been a pleasure.
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The Bank of England - A History
The Bank of England was originally known as the Governor and Company of the Bank of England is now the central UK bank and represents the model on which most modern Worldwide central banks have been based.
The Bank was established in 1694, andt is the second oldest central bank in the world after the Swedish National Bank. It was established to act as the UK Government's banker. The Bank was privately owned and operated from its foundation in 1694. It was subordinated to the Treasury after 1931 in making policy and was nationalised in 1946.
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In 1998, the Bank of England became an independent public organisation.