Word: bankes
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Dates: during 1920-1929
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...might have stepped out of the frame Of the portrait of the most handsome courtier who ever graced the court of a queen." Thus has Chancellor of the Exchequer Philip Snowden described the Empire's most important bachelor, potent patrician Montagu Collet Norman, Governor of the Bank of England...
...nine years: 1) Deflation of pound sterling after the Wartime period of inflation; 2) absolute maintenance of the pound on a gold basis once deflation was achieved (TIME, May 4, 1925). Under Governor Norman's aegis a gold reserve of £150,000,000, in the vaults of the Bank of England, was inaugurated, on the advice of the Cunliff Currency Commission that such a reserve was "desirable" (i. e. indispensable in the Commission's opinion) if the gold parity of the pound was to be maintained. The seriousness of the situation, last week, may be judged from the fact...
...hopping off gold-laden from England. Many winged to Germany, attracted by legitimate opportunities for high return offered in the Reich, where the discount rate of the Reichsbank stood at 7½%, a potent magnet. But even more gold planes sped to France, and that was passing strange. With the Bank of France's rate at 3½%, the zeal of that institution to acquire and hold gold bullion was regarded in London as distinctly ominous. Was the explanation that France ?on the eve of The Hague Reparations Conference?was amassing a spectacular gold reserve, swelling her credit to proud, unwonted...
...Bank of England, in his quiet sanctum, Montagu Collet Norman sat one morning last week, and probably he stroked in anxious meditation his courtly Vandyke beard. Invisibly the battle of gold was on. It was a question whether to call out the ordinary reserves?whether to raise the rediscount rate of the Bank of England...
Griffith Ogden Ellis, a Mason and clubman, is Senior Vice President of the Bank of Detroit. For seven years he was president of the Detroit Street Railway Commission. Another job, however, is really his most important one. He, head of the Sprague Publishing Co., has since 1908 been editor and publisher of the largest magazine for youths, the American Boy. Last week Mr. Ellis further increased his tasks by purchasing and merging with his American Boy its biggest rival, Youth's Companion...