The Hollow Sword Blades Company was a British joint-stock company founded in 1691 by a goldsmith, Sir Stephen Evance, for the manufacture of hollow-ground rapiers.
In 1700 the company was purchased by a syndicate of businessmen who used the corporate identity of the company to operate as a bank.[1] At this time the Bank of England held a monopoly by act of parliament as the only organisation permitted to operate as a bank in England, so anyone wishing to carry out banking operations had to do so by devious means. The company was used as a stepping stone to the foundation of the South Sea Company which set out to supplant the Bank of England as banker to the government.
^Chown, John (1994). A History of Money: From AD 800. Psychology Press. p. 139. ISBN 0415102790.
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