TRACTS FOR THE TIMES.

Auckland Star, Volume LXIII, Issue 160, 8 July 1932, Page 6

TRACTS FOR THE TIMES.

BANK OF ENGLAND CONTROL.

(By PRO BONO PUBLICO.)

I am always coming across the assertion that the Bank of Kngtand is controlled by American bunking interests. It is not merely a suggestion of American influence, but a positive belief that the grant Britwli bank is operated to suit New York financiers. More than once I have had to contradict the assertion that Mr. Montague Norman is himself an American. Where the idea originates L do not know, but it is a fantastic untruth. Mr. Norman is an Englishman, born in England and educated ;:t Kton and Cambridge, and he served in the South African War. He belongs to an old Kent family. Sir Ernest Harvey, the Deputy-! iovernor, U another Englishman, the son of Prebendary Harvey, who was vicar of Hillingdon. Reading an Australian paper some time ago, I found the notorious Mr. Lung asserting that Mr. Norman was an American, and most of ■the directors were foreigners. I believe there are twenty-six directors on the board, and they, like the (iovernor and DeputyGovernor, are all British. Out of curiosity I asked a city friend to look up their names for me, and he sends me this list: Addi.s, Anderson, Blackett, Booth, Lord Cullen, Duncan. Gladstone, Gtoschcn, Orenfell, Hambro, Hanbury, Lord Hyndley, Molesvvorth, Kindereley, Kitson, Lubbock, Newman, Peacock. Shaw, Stamp. Tiarks, Trotter, Whigham and Whitworth. There is nothing foreign about most, of them. I expect that the curious will find all they want to know about these men iu '"Who's Who." My friend tells me that all the directors were born in England with the exception of two, who are Canadians. One of the Canadians would be Mr. I , ]. H. Peacock, who was a school teacher in Canada bcfiure he became interested in more financial pursuits. Me is a Rhodes Trustee. From what little .1 know of these names I should say that a composite biography would be full of interest mid even romance. The Gosehens. for instance, for all their foreign name, have long been settled in England, and have given the country distinguished service in many fields. Sir Alan Anderson is n son of Dr. Kliznbeth Oarrett Anderson, famous in her day. Mr. Booth is a son of the Hon. Charles Booth, and his mother was a daughter of Zachary Maeaulay. The Shaw in the list is the Hon. Alexander Shaw, the shipping magnate. The Whigliams are an Ayrshire family, and one of them is the general who was nt Khartoum with KitcheiK-r. The other name.3 are sufficient proof that the control of the bank is wholly British, and it is sheer stupidity to suggest otherwise. In any case, a British' bank is a British bank, and that ij all there i* to it. Some of the dominant figures in America have German names, but no 01:0 would be foolish enough to suggest that American finance is controlled from Germany.