William Bramley/The Gods of Eden/23/228
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Upon his assumption of the British throne, William III quickly undertook to erect the same institutions in England as those which had been established by his dynasty in Holland: a strong parliament with a weakened monarchy and a central bank operating on an inflatable paper currency. William and his queen, Mary II, also promptly launched England into expensive wars against Catholic France.
The man chosen to organize the English central bank under William III was a mysterious Scottish adventurer named William Paterson, of whom very little was apparently known. The British House of Commons (parliament) was at first reluctant to accept Paterson's central bank scheme, but relented as the British national debt continued to skyrocket from the conflicts launched by the very warlike William III. The paper money system with its built-in inflation was touted as the way to finance the costly wars. Taxes were
