In the late 17th century, King William III of England was facing a problem. 

He was in the middle of a prolonged war with France. He was in desperate need of money, and he had exhausted most of the traditional sources for funding a war.

A proposal came forward for a new bank that could lend the crown money at favorable interest rates, and also solve several problems for merchants in the country. 

Learn more about the Bank of England, one of the most important banks in history, on this episode of Everything Everywhere Daily.

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