The Founding of the Bank of England A pirate is not all that different from a financier, and a financier is always a storyteller. In Pirates, Punters, and Politicians Val Hamilton vividly tells the story of the origins of the Bank of England, delving into the mishaps, fortunes, and bizarre twists of fate—from Spanish treasure and swashbucklers to sheer happenstance and political manoeuvring—that came together to create the Old Lady of Threadneedle Street. The story hinges on the life and works of William Paterson, the Scotsman who founded the Bank. Chancer or genius? Author Val Hamilton suggests he had to be both.