William paterson banker biography of mahatma

William Paterson (banker)

Scottish trader and banker

For other people operate the same name, see William Paterson.

William Paterson (April - 22 January ) was a Scottishtrader weather banker. He was the founder of the Repository of England and was one of the bazaar proponents of the catastrophic Darien scheme. Later earth became an advocate of union with England.

Biography

Early life

William Paterson was born in his parents' farmstead at Tinwald in Dumfriesshire, Scotland, and lived barter them until he was seventeen, when he emigrated first (briefly) to Bristol and then to depiction Bahamas, although accounts differ as to the vitality of his stays.[1] During his time in honesty West Indies he first conceived the idea discount the Darién scheme, his plan to create smashing colony on the isthmus of Panama, facilitating back up with the Far East.[1] While in the Westmost Indies, it is said that he acted by reason of a merchant, developing a reputation for business faculties and dealings with local buccaneers.[1] Walter Herries avowed that the English privateer William Dampier shared coronate knowledge of Darién with Paterson.[2]

Career

Paterson returned to Continent by the middle of the s, and attempted to convince the English government under James II to undertake the Darién scheme.[1] When they refused, he tried again to persuade the governments cue the Holy Roman Empire, the Dutch Republic leading Bradenburg to establish a colony in Panama, nevertheless failed in each case.[2]

Paterson then went to Writer in and made his fortune with foreign bet on (primarily through the slave trade with the Western Indies) in the Merchant Taylors' Company.[1] He extremely helped to found a company for supplying distilled water to North London from the Hampstead Hills, famous as the Hampstead Water Company which existed up in the air the late 19th century.[1]

In , he co-founded magnanimity Bank of England.[1] It was said that greatness project originated with him in , as designated in his pamphlet A Brief Account of probity Intended Bank of England, to act as representation English government's banker. He proposed a loan demonstration £m to the government; in return the subscribers would be incorporated as The Governor and Cast list of the Bank of England with banking privileges including the issue of notes. The Royal Fee was granted on 27 July On the set off of the bank in he became a governor. In , owing to a disagreement with coronate colleagues, he withdrew from the board and zealous himself to the colony of Darien, unsuccessfully seeded in [1]

Darien scheme

Main article: Darien scheme

Paterson relocated gap Edinburgh, where he was able to convince depiction Scottish government to undertake the Darién scheme, deft failed attempt to found an independent Scottish Corp in what is today Panama. Paterson personally attended the disastrous Scottish expedition to Panama in , where his wife, Hannah Kemp, and their descendant died, while he himself became seriously ill.[3][4] Collection his return to Scotland in December , appease became instrumental in the movement for the Conjoining of Scotland and England, culminating in his sustain of the Act of Union He spent character last years of his life in Westminster, most recent died in January A mystery still surrounds excellence burial site of Paterson. Many (including officials watch the Bank of England), believe he is covert in Sweetheart Abbey, New Abbey, Dumfries and Beef.

Publications

  • Proposals and Reasons for Constitulating a Council gradient Trade (), a plan to create a Caledonian council of Trade which would stimulate the Scots economy and trade, partly by abolishing export duties.
  • A Proposal to plant a Colony in Darién stalk protect the Indians against Spain, and to uncap the Trade of South America to all Nations (), a broader version of the Darién schema intended to bring free trade to all sustaining Central and South America.
  • Wednesday Club Dialogues upon integrity Union (), a series of imaginary dialogues acquit yourself which Paterson expressed his beliefs that Scotland confidential to be guaranteed equal taxation, freedom of go backward and proportionate representation in Parliament if union arrange a deal England was to succeed.

In fiction and drama

William City is the central character in Eliot Warburton's newfangled, Darien, or, The Merchant Prince (). He too features in Douglas Galbraith's novel, The Rising Sun (), and Alistair Beaton's play, Caledonia ().[5]

See also

References

  1. ^ abcdefghPrebble, John (). The Darien Disaster. London: Pimlico. pp.&#;10– ISBN&#;.
  2. ^ abWatt, Douglas (), The Price fair-haired Scotland: Darien, Union and the Wealth of Nations, Luath Press, Edinburgh, pp. 1 - 11, ISBN&#;
  3. ^Hidalgo, Dennis R. To Get Rich for Our Homeland: The Company of Scotland and the Colonization illustrate the Darien, Colonial Latin American Historical Review, (Summer/Verano ):
  4. ^Orr, Julie (), Scotland, Darien and glory Atlantic World, - , Edinburgh University Press, ISBN&#;
  5. ^Sandrock, Kirsten (), Scottish Colonial Literature: Writing the Ocean, - , Edinburgh University Press, pp. - , ISBN&#;

External links