Paterson, William (1658-1719), a British economist and financier, helped found the Bank of England in 1694 and developed its early operations. Paterson attempted to establish a Scottish colony in Darien, Central America, now in Panama. In 1698, he led an expedition of 1,200 colonists to Darien. Many of them, including his wife, died, and Paterson and other survivors returned to Britain. Paterson was born in Dumfriesshire, Scotland. He was elected to Parliament in 1707.
