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TeachMeFinance.com - explain William Paterson historic definition... William Paterson -- William Paterson was the original projector of the Bank of England. He was born in Scotland in 1658 and died in London in 1719. The plan for the Bank of England was presented by him to the government in 1691 and the charter of the bunk was issued July 27, 1694. He was a director of the bank for a single year only. He also projected a plan for colonizing the Isthmus of Darien by the formation of a company called the "Company of Scotland for trading to Spain and the Indies." He joined the ill-fated expedition which set out from Scotland to Darien in 1698. He returned home in 1699 and in 1700 removed to London, He was afterwards a member of Parliament. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.