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"The bank hath benefit of interest on all moneys which it creates out of nothing."

January 1, 1970

Quote Details

Added by wikiquote-import-bot

Added on April 10, 2026

Unverified quote

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Business Occupations Commerce Banking

Original Language: English

Sources

Attributed to William Paterson, founder of the Bank of England. No primary source for this has been found. This quote is said to be from the prospectus for the Bank of England, but it does not not appear in A Brief Account of the Intended Bank of England or elsewhere in The Writings of William Paterson. The earliest known appearance is from the 1930s.

https://en.wikiquote.org/wiki/Banking

Attributed to William Paterson, founder of the Bank of England. No primary source for this has been found. This quote is said to be from the prospectus for the Bank of England, but it does not not appear in A Brief Account of the Intended Bank of England or elsewhere in The Writings of William Paterson. The earliest known appearance is from the 1930s.