From a paper I wrote in 1984. "Charles Townshend, Chancellor of the Exchequer (England) whose policies of money and taxation led to the American Revolution hired Adam Smith to tutor his stepson, Henry the young 3rd Duke of Buccleuch, because of his work "The Theory of Moral Sentiment 81. Smith penned "The Wealth of Nations" at a time wh…
From a paper I wrote in 1984. "Charles Townshend, Chancellor of the Exchequer (England) whose policies of money and taxation led to the American Revolution hired Adam Smith to tutor his stepson, Henry the young 3rd Duke of Buccleuch, because of his work "The Theory of Moral Sentiment 81. Smith penned "The Wealth of Nations" at a time when the mercantilist policies of England had proven antiquated and were no longer profitable. The Sovereign of England by this time was the Bank of England for whom the Chancellor of the Exchequer was employed. Sovereignty having passed during the reign of Charles II,who bankrupted himself to bestow favors on an unscrupulous Barbara Villiers, first to the Bullioneers and the India Company and subsequently to the Bank of England when it acquired that company 82. Charles also sired,illegitimately, James Duke of Monmouth and Buccleuch whose grandson was the above mentioned 3rd Duke. Smith wandered the continent, especially France, spending much time with the "physiocrats" with young Henry in tow. Henry, 13 years later, paid his friend and tutor to write "Wealth of Nations" thus intellectually justifying a new era and a new philosophy to justify the change in methodology."
The Bank of England came about, because the aforesaid Charles II, was a man of wanton vices, besides his mistresses, he was a poor gambler.And in debt up to his eyeballs he went crawling to the East India Company for a loan, they granted the loan on the proviso that they be given a monopoly charter as the Bank of England. He squandered that loon, went crawling back, this time they demanded collateral in the form of the crown jewels, including the symbols of sovereignty, the crown, the globe and sceptre. He also betowed on his mistress, Barbara Villiers, a cousin of George Viliiers a favorite and possible lover of James I, the castle that Henry VIII built for Catherine Howard (Nonsuch), which she promptly sold off stone by stone.
A note on the Bank of England, no sooner than it set up shop, that there was a run on the bank's gold. To prevent bankruptcy, the Bank reached out to the foremost alchemist of the realm, and made him the 1st Warden of the Mint. The public's fears were assuaged when the alchemist Isaac Newton, subsequently knighted by the crown, assumed the position/
From a paper I wrote in 1984. "Charles Townshend, Chancellor of the Exchequer (England) whose policies of money and taxation led to the American Revolution hired Adam Smith to tutor his stepson, Henry the young 3rd Duke of Buccleuch, because of his work "The Theory of Moral Sentiment 81. Smith penned "The Wealth of Nations" at a time when the mercantilist policies of England had proven antiquated and were no longer profitable. The Sovereign of England by this time was the Bank of England for whom the Chancellor of the Exchequer was employed. Sovereignty having passed during the reign of Charles II,who bankrupted himself to bestow favors on an unscrupulous Barbara Villiers, first to the Bullioneers and the India Company and subsequently to the Bank of England when it acquired that company 82. Charles also sired,illegitimately, James Duke of Monmouth and Buccleuch whose grandson was the above mentioned 3rd Duke. Smith wandered the continent, especially France, spending much time with the "physiocrats" with young Henry in tow. Henry, 13 years later, paid his friend and tutor to write "Wealth of Nations" thus intellectually justifying a new era and a new philosophy to justify the change in methodology."
The Bank of England came about, because the aforesaid Charles II, was a man of wanton vices, besides his mistresses, he was a poor gambler.And in debt up to his eyeballs he went crawling to the East India Company for a loan, they granted the loan on the proviso that they be given a monopoly charter as the Bank of England. He squandered that loon, went crawling back, this time they demanded collateral in the form of the crown jewels, including the symbols of sovereignty, the crown, the globe and sceptre. He also betowed on his mistress, Barbara Villiers, a cousin of George Viliiers a favorite and possible lover of James I, the castle that Henry VIII built for Catherine Howard (Nonsuch), which she promptly sold off stone by stone.
A note on the Bank of England, no sooner than it set up shop, that there was a run on the bank's gold. To prevent bankruptcy, the Bank reached out to the foremost alchemist of the realm, and made him the 1st Warden of the Mint. The public's fears were assuaged when the alchemist Isaac Newton, subsequently knighted by the crown, assumed the position/