Online Exhibition

The Bank of England, established on July 27, 1694, by William Paterson and others, was created to finance the war against France under King William III. With an initial capital of £1.2 million and a royal charter, it became the model for modern central banking, issuing banknotes, managing government debt and setting interest rates to stabilise the economy. Acting as a lender of last resort, it provided liquidity during financial crises, promoting financial stability. The Bank’s role facilitated the Industrial Revolution by creating a stable financial environment, encouraging investment, and effectively managing public debt. It also developed the gilts market and contributed to making London a global financial hub. Over time, it shaped fiscal and monetary policies, controlling inflation and ensuring long-term economic stability. The Bank’s influence extended globally, inspiring the creation of other central banks and shaping modern financial systems. This stained glass style artwork captures the historical significance and enduring legacy of the Bank of England. The piece vividly depicts the founding moment in 1694 with William Paterson presenting the royal charter, flanked by early shareholders and 17th-century financial symbols. The central section showcases the Bank’s iconic building, symbolising its role as a central bank, seamlessly integrating images of banknotes, coins, and ledgers. The right side illustrates the Bank’s long-term impact through scenes of the Industrial Revolution, including factories, railways, and modern financial symbols like the stock market and global trade icons.