The Bank of England is a huge success story. It is the oldest continuously operating central bank in the world and undoubtedly remains one of the most prestigious and highly regarded. It is one of the key institutions in the world, playing a major role in the global financial system. Its capabilities shore up Britain’s international reputation. What’s the story behind this amazing success?

It is a wonderful story of pirates, treasure, daring, imagination, and revolution. Not to mention dollops of heroism, optimism, and a fair bit of cheating. None of this alone would have been enough if the whole venture had not been salted with a sense of public spirit, and a genuine desire to contribute to the public good. Some of the men behind this grand project were adventurers, some were public servants, and some were creative geniuses. All in all, the Bank was founded on pirates, punters, and politicians. Deceits and trickery were required, and have been required ever since, to keep the enterprise going. The Bank, despite its thick walls, is a thing of fiction, dispensing magic. Its calm, secure exterior, its marble hallways, belie the adventure, the game of fate and chance in which it was, is, and will for ever be, engaged. This is not for the faint-hearted. The story begins with Scotland.