The Founding of the Bank of England; 1694. The Bank of England; which was founded on 10 July 1694; originated with a loan of £1;200;000 to the Government; and from that time dates its connection with the Public Debt. The first governor; Sir John Houblon; was descended from a Flemish refugee who escaped to England during Alva's occupation of the Netherlands. The first stone of the present building was laid on 1 August 1732; upon a site once occupied by the house and garden of Sir John Houblon. Illustration for Hutchinson's History of the Nations (Hutchinson; c.1920). Note: Image has been digitally enhanced to facilitate repro.