1694

File:Decade.png ( 1690s: ) 1694
File:Decade.png ( 1690s: ) 1694 link
	File:Bank of England.svg
	A very important date in the development of modern plutocracy

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1694 has been called a "very important date in the development of plutocracy" because it saw the constitution of the Bank of England, the first successful Central Bank. This saw the legalisation of fractional reserve banking.^[1]

Robin Upton explains the role of the Bank of England in the history of plutocracy between 8:36 and 12:31 minutes into this video.

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