# Bank of England is founded (1694)

URL: https://english-history.com/timeline/1694-bank-of-england-is-founded
Categories: main-event

The bank was created to lend money to the government during war with France. Within the broader Stuarts & Revolutions period, the shared monarchy of England, Scotland and Ireland produced conflicts over religion, taxation and sovereignty that culminated in civil war, revolution and union. This event is placed at 1694 in the chronology so it can be read alongside the political, military, social and cultural changes around it. It became a key institution in Britain's financial revolution and state capacity.

## Why it matters
It became a key institution in Britain's financial revolution and state capacity.

Ruler at the time: [Mary II](https://english-history.com/rulers/mary-ii)

## Sources
- [Wikipedia topic lookup — Bank of England is founded](https://en.wikipedia.org/wiki/Special:Search?search=Bank+of+England+is+founded&go=Go)
- [Encyclopaedia Britannica topic lookup — Bank of England is founded](https://www.britannica.com/search?query=Bank+of+England+is+founded)
- [Wikipedia — Timeline of British history](https://en.wikipedia.org/wiki/Timeline_of_British_history_%281600%E2%80%931699%29)
- [UK Parliament — Living Heritage](https://www.parliament.uk/about/living-heritage/)