Review
Culture
Economics
Trust
5 min read

Money’s hidden meanings in a contactless age

The Bank of England Museum reveals the symbolism, morality and power woven into the history of money

Susan is a writer specialising in visual arts and contributes to Art Quarterly, The Tablet, Church Times and Discover Britain.

Gold bars stacked in the Bank of England vault.
The Bank of England vaults.
Bank of England.

Our era of contactless payments obscures the symbolism once lavished on money. But the rich history of meaning, morality and power, layered into everyday transactions, is uncovered at an exhibition at the Bank of England Museum 

Building the Bank celebrates 100 years of the current Bank of England building, on the site of Sir John Soane’s original structure, completed in 1827. Surveying a century makes past practices seem quaint: until 1973 the institution was guarded by the Bank Piquet military guard. A 1961 photo shows 12 Guardsmen with bearskin hats and bayonets, together with a drummer or piper, a sergeant and an officer, marching into the Threadneedle Streer entrance. Even now, when the wealth of most people in developed countries is contained in data warehouses, 400,000 gold bars are held in vaults deep beneath the Bank. 

Faiths have grappled with money’s impact for millennia. Christianity’s relationship with money is tinged with unease, as St Paul’s oft misquoted letter to Timothy illustrates: “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.” Personally, the immobilising feeling of envy, particularly if it is towards friends, does feel exactly like being pierced with blinding toxicity. 

Contrastingly, in Hinduism pursuing wealth is one of four pillars of faith, called Artha. In Hinduism attempting to attain material wealth is part of attempting to attain salvation. 

Herbert Baker, architect of the Bank of England, embodies moral ambiguity around faith and money. Buried in Westminster Abbey, and architect of Church House next door, Baker established his reputation working for Cecil Rhodes, prime minister of the Cape Colony 1890- 96. Vicar’s son Rhodes is now seen as paving the way for apartheid in southern Africa, and imposing an economically exploitive, racist, and imperialist system on the region. Baker also worked with better- known Edwin Lutyens on government buildings in New Delhi from 1912, declaring of the British Raj’s new seat of power “it must not be Indian, nor English, nor Roman, but it must be Imperial”. 

After World War One, Soane’s bank was too small to house the increased staff numbers needed to service the ballooning national debt and financial complexity of the Roaring Twenties. Bordered by major roads at the heart of the City of London, the institution’s footprint could not expand, so Herbert created a design incorporating some of Soane’s classical aspects, but with floors at a greater depth and height than its processor.  

From grand gestures to tiny details, classical mythology is a key element of the Bank’s design. Sculptor Charles Wheeler modelled doorknobs showing the face of Mercury. Mercury is the patron deity of finance and communication. Tiles for an officials’ lunchroom show a caduceus, with two bright blue snakes, tails entwined, framing Mercury’s face. Caducei are the symbol of commerce, representing reciprocity and mutually beneficial transactions.  

Forty caryatids, the classical female form used in place of a pillar in Greek architecture, were salvaged from Soane’s building and reused. Some caryatids are in the area where old banknotes can be exchanged, besides the museum, now the only part of the Bank open to the public.  

Outside, on the dome at the northwest corner of the bank, a gilt bronze statue of Ariel, named after the spirit of the air in The Tempest, represents “the dynamic spirit of the Bank which carries Credit and Trust over the wide world.” 

The image of banks as depositories of trust and positive relationships took a pasting worldwide during the 2008 Credit Crisis and lean years that followed. But in 2015 former Archbishop of Canterbury, Justin Welby, argues that banking services are a key part of functioning communities, and banks should be able to put people before profit. “At the heart of both these expectations is the value of the person as sacred, and all other things as secondary to human dignity. It is a value rooted in many faiths and especially in our Judaeo-Christian tradition. Of course profits have to be made, but they need to be measured not only in terms of their absolute return on capital employed, but also in terms of the human cost of achieving that return. 

“Large institutions with adequate balance sheets working to maximise returns from those who can most afford it do not produce a sustainable society in the long term. Such an approach is narrow-minded and short-termist, because sustainable societies are essential to the large companies within them. It is also an immoral approach.” 

Mosaics created by Boris Anrep idealise the Bank’ of England’s sunnier intentions towards the wider community. Anrep also designed mosaics for Westminster Cathedral, Tate Britain and the National Gallery. For the Bank, a tiny coin from the reign of Henry VIII known as the George Noble, the first time St George and the dragon appeared on English coinage, was magnified into a roundel showing the galloping saint, visor up, lancing the prostate dragon at the base. The George Noble was one of 50 designs, based on advances in coinage, gracing the Bank’s corridors.  

At the main entrance, a mosaic showing a pillar, representing the Bank, is guarded by two lions, referencing the sculpture from Mycenae. The Bank’s global role, and place at the centre of the then British Empire is shown by the constellations of the Plough and Southern Cross, representing the southern and northern hemispheres. 

An image of the Empire Clock Baker made for the Bank, - now disassembled - shows an ornate dial, marked in 24 sections, with the sun representing India and an anchor symbolising the port cities of Singapore and Hong Kong. 

In 1946 the Bank of England was nationalised, formalising its role as a public institution, operating in a post war decolonialising world, totally different to the one its building had been designed for just 20 years before. 

Systems and symbols around money mutate with the times. Money’s intangibility in our time of app and tap payment, makes its power less distinct than in the days of gold sovereigns. But we fool ourselves if we say money is unimportant, because all of history says otherwise. 

  

 

Building the Bank, Bank of England Museum, until 2026

Review
Belief
Books
Creed
7 min read

Alice Roberts’ new book is the Da Vinci Code without the pretence of fiction

Tomes like Domination are part of the problem of public discourse about Christianity, not the solution
A head and shoulder image of Alice Roberts against a purple background
Alice Roberts.
alice-roberts.co.uk.

Alice Roberts would like you to read her book, thank you very much.

She recently took to X to bemoan the “epidemic” of people offering thoughts about her latest offering, without actually having read it. The person who prompted Roberts’ exasperation was a senior lecturer in Biblical Studies and the latest in a long of professional scholars of Christianity who had greeted the release of the book with little more than a weary eyeroll. 

The reason so many people felt as though they didn’t need to read it is because it is utterly predictable. Even a cursory glance at any of the marketing that has accompanied the publication of Domination: The Fall of the Roman Empire and the Rise of Christianity really does tell you all you need to know. It really is the book you think it is. 

You already know what this book is going to argue. Just like you already know how this review is going to go. I’m a theology lecturer who works for the Church of England; Roberts is an outspoken atheist and former president of Humanists UK. Of course I’m going to disagree with this book. It’s hardly the sort of plot twist you endure an M. Night Shyamalan film for.

But, for the avoidance of doubt, let me be clear: I don’t dislike Alice Roberts’ book because I’m a Christian and she’s not. I dislike Roberts’ book simply because it’s not very good.  

Roberts seeks to “lift the veil on secrets that have been hidden in plain sight.” (Always be wary of someone who claims to have noticed something no-one else has for the last 2,000 years). These ‘secrets’, she suggests, are that “the main reasons [Christianity spread so successfully] were not to be found in the pages of the Bible, but in a powerful alliance born of complex – and very human – incentives”.  

For Roberts, the central, overriding reason why Christianity flourished was simply economic and political power. In her own words, “the worldly aspects of the Church are undeniable. Wealth and power go hand-in-hand, and the Church had both in abundance.” It’s never clear who actually is thought to be denying this, except a vague group described as “apologist historians (including some who claim not to be Christian, but seem to be suffering from some kind of Stockholm syndrome) and theologians”.  

And this power-grab has been the aim since the earliest moments of the Church’s existence. The Apostle Paul is painted in cartoonishly Machiavellian tones: “As a Pharisee, a member of an established Jewish sect, Saul would have been a small fish in a big pond. The switch to this new breakaway sect [Christianity] would make him a prominent figure in a small but rapidly growing movement”. 

A few pages later – in a section that made me laugh so hard I had to put the book down for a few minutes to collect myself – Roberts offers a genuinely baffling reading of one of Paul’s early letters, to a group of Christians in the city of Corinth. In the letter, Paul speaks about divisions in the Church, with Christians claiming to ‘follow’ different leaders (such as Paul and Apollos). Roberts writes that “there’s a hint that Paul may have viewed Apollos as competitor” and continues: 

“When Paul wrote his first letter to ‘the Corinthians’ … he exhorted them to see themselves as united, whether they were following him, [or] Apollos … Paul, however disgruntled he might have been about the competition represented by other, potentially more eloquent, preachers, had decided it was best to team up. Still, he couldn’t quite resist suggesting his superiority – or at least, his priority – to Apollos: ‘I have planted, Apollos watered.’”. 

See?! SEE?! It’s all about power!! 

Well, that last bit is a quote from Paul’s first letter to the Corinthians, the third chapter and its sixth verse. Now, what Roberts doesn’t tell the reader is that she has left off the rest of the verse, and the verse that follows. “I planted, Apollos watered, but God gave the growth. So neither the one who plants nor the one who waters is anything, but only God who gives the growth.”  

But this is very different indeed to the impression Roberts gives us. Paul is quite clearly not claiming any sense of superiority over Apollos. No, he claims they’re both nothing, and that God alone deserves credit for anything good done by either of them. Not that you would know this from Roberts’ butchering of biblical texts.  

(As a slightly technical aside, the bit Roberts does quote should read ‘I planted,’ not ‘I have planted’. This sounds trivial but in the Greek text, Paul writes in a different tense than the one Roberts translates it as. This made me wonder what translation of the Bible was using or whether it was her own. However, there are no notes in the book. At all. And no mention of Bible translation that I could find. If we’re engaging in character assassinations of folk no longer alive to defend themselves, we might think that attention to the precise wording of their thought might be important. Apparently not). 

And there’s the rub. Roberts leave precisely zero room for earnest belief in God. Not her belief in God, obviously, but that the people whose words she has hacked and placed before us might earnestly think that their actions seek the betterment of those around them because of their belief in God. No. It’s all about power. I’ve highlighted her treatment of Paul in particular (again, because I found it genuinely hilarious), but time would fail me if I tried to recount all the ways that other figures in Church history are treated similarly. 

Roberts’ has complained about Frank Cottrell-Boyce (whom, she notes, is “a Catholic” as though this is in any way relevant to whether he’s right) for describing Domination as ‘cynical’. But how else could we possibly describe this? Yes, it is – of course – completely reasonable to highlight the social, cultural, political, and economic forces at work in and around the development of Christianity (is anyone actually suggesting otherwise?). And yes, of course some people have used Christianity for personal gain (seriously: is anyone actually suggesting otherwise?). 

But Roberts goes far beyond both points. Instead, she is simply stripping back the theological content of Christianity and claiming to have found “secrets that have been hidden in plain sight” having done so. But of course human motivation is all that is left once you strip belief in God out of religion, because what else could there be? Roberts’ prose may be captivating, but her argument is deeply immature and reductive. It’s like a toddler who’s just read Michel Foucault’s work on social power for the first time: an impressive toddler, to be sure, but a toddler nonetheless.  

Roberts does acknowledge that “people are complex, human societies are complex”, but this is little more than lip-service to nuance. None of this complexity is found in the actual argument of her book. It reminds me of someone saying, “no offence, but …” before going on to say something deeply offensive. A fleeting caveat doesn’t redeem a simplistic argument. 

In this respect, it’s quite telling that the front-cover endorsement comes from Stephen Fry who describes it as “a historical thriller of the highest quality.” In one respect, he’s not wrong. It reads like a thriller and – questions of content aside – might easily grip read readers with its compelling prose and rhetorical flourishes. But that’s because this is The Da Vinci Code without the pretence of fiction. A compellingly told conspiracy theory dressed up in just enough spliced-together reality to feign plausibility.  

Public discourse about religion and faith is too often conducted with a sneering cynicism that seeks to ride roughshod over the sincerely held beliefs of actual people who would actually describe themselves as religious. Books like Domination are part of the problem, not the solution.  

Maybe this is why I find Domination bordering on offensive. Not because of its content. (If I got upset every time someone ascribed bad motivations to the Church I’d never leave the house.) No, I find it borderline offensive because of its sheer existence. Whether you like it or not, religion has been and is an irrevocably vital part of who we are and where we’ve come from. Religious belief deserves at the very least to be understood, even if not agreed with. And so, when I finished Domination, I was left wondering: is that is? Is this the highest standard of discourse society can really be offered about religion? Dan Brown in an academic gown? Heaven help us, if so. 

The covers may be similar, and the titles may sound alike, but this is not Tom Holland’s Dominion. Where Holland’s work remains one of the most insightful and thoughtful accessible books about the development of Christianity and modern society, Roberts’ cynicism (for that is what it is) is both tiresome and tiring. (Moreover, that Holland’s book is not even mentioned once speaks volumes about Roberts’ work. That Roberts insists she has read it only makes that absence more baffling). 

The Church deserves more rigorous champions of atheism to scrutinise its belief; society needs a better class of conversation about religion and its role in our history. I fear Alice Roberts is not the former; Domination is certainly not the latter.  

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