Subscription book

Contributed by Bank of England Museum

This is the original book containing the names of the Bank's subscribers and the amounts they invested in order to found the Bank of England in 1694. Their investment was on-lent to the Government to help pay for the war against Louis XIV of France. Because interest on it was guaranteed by Parliament and paid for out of taxes, this represented the birth of the funded National Debt.

The total amount required was £1,200,000, and this was received from 1268 individual subscribers (it was open to any member of the public) in sums ranging from £25 to £10,000. It only took 11 days to raise the whole amount, and some people even subscribed more than once, when it became clear that the Bank of England might be a success, and thus a solid investment. The first entry in the book shows a contribution of £10,000 in the names of the King and Queen.

Comments are closed for this object

Most of the content on A History of the World is created by the contributors, who are the museums and members of the public. The views expressed are theirs and unless specifically stated are not those of the BBC or the British Museum. The BBC is not responsible for the content of any external sites referenced. In the event that you consider anything on this page to be in breach of the site’s House Rules please Flag This Object.

About this object

Click a button to explore other objects in the timeline




View more objects from people in London.

Find out more

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.