On July 27, 1694, the Bank of England received a royal charter, beginning a long history of central banking in England. Subsequent inflationary booms and deflationary busts are usually considered “mysterious” by people connected with the bank.
July 27 births include that of Samuel Smith (1752), an American who served as a captain, major, and lieutenant colonel in the Continental Army, and later as a politician in several capacities in the state of Maryland; Hilaire Belloc (1870), author of a classic analysis of modern political governance, The Servile State; and American singer and songwriter Bobbie Gentry (1944).