28. Going After the Bank of England

Chaloner’s next scheme targeted the newly established Bank of England, which had introduced new £100 banknotes in 1695. Chaloner got his hands on a stock of the right kind of paper, and began churning out £100 notes. He was caught, but he got away on a legal technicality. Astonishingly, although counterfeiting coins had long been a capital offense, forging banknotes did not make it into the statute book as a crime until 1697.
Chaloner immediately turned King’s Evidence (state’s witness), and snitched on his accomplices to curry favor. He did such a good job snitching that he received formal thanks from the Bank of England, and a £200 reward. He also got to keep all the profits he had made from his earlier £100 bank note forgeries.



