Quigley, Carroll. 1966. Tragedy and Hope: A History of the World in Our Time (NY: Macmillan).
49: William Paterson, on obtaining the charter of the Bank of England in 1694, to use the moneys he had won in privateering, said, "The Bank hath benefit of interest on all moneys which it creates out of nothing."
-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu