William Paterson

Sir William Paterson (April 1658 - 22 January 1719) was a Scottish trader and banker. He was the founder of the Bank of England and was one of the main proponents of the catastrophic Darien scheme. Later he became an advocate of Union with England. Biography Early life William Paterson was born in his parents' farmhouse at Tinwald in Dumfriesshire, Scotland, and lived with them until he was seventeen, when he emigrated first (briefly) to Bristol and then to the Bahamas, although accounts differ as to the duration of his stays. During his time in the West Indies he first conceived the idea of the Darién scheme, his plan to create a colony on the isthmus of Panama, facilitating trade with the Far East. While in the West Indies, it is said that he acted as a merchant, developing a reputation for business acumen and dealings with local buccaneers. Career