WILLIAM PATERSON

WILLIAM PATERSON (1658-1719), a famous financier, born in Tinwald parish, Dumfriesshire; originated the Bank of England, projected the ill-fated Darien scheme, and lost all in the venture, though he recovered compensation afterwards, an indemnity for his losses of £18,000; he was a long-headed Scot, skilful in finance and in matters of trade.