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← The Bank of England as a War Machine
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Question
What was the immediate purpose of the Bank of England's founding in 1694?
1
To manage the colonisation of North America by providing credit to joint-stock companies
2
To regulate commercial banking and prevent the financial panics that had destabilised English trade
3
To create a national currency replacing the fragmented coinage of local mints
4
To finance William III's war against France by intermediating private lending to the government
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