Review

Culture

Economics

Trust

21 November 2025

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 Gray

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

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

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Review

Addiction

Community

Culture

Film & TV

13 May 2025

4 min read

This City is Ours – truth and lies about the global drugs trade

The drug-dealing family drama reflects the impact of the drugs world.

Henry Corbett

Henry Corbett, a vicar in Liverpool and chaplain to Everton Football Club.

Family saga.

BBC.

I asked a thoughtful Scouser and cinephile “What do you think of This City is Ours? – the crime drama TV series set in Liverpool. I wondered if he would hate all the talk of drugs, the power games, the violence and that the series about a global trade is located in our city.

“Well, it’s true.”

As a priest in Liverpool, I have taken the funerals of drug dealers and users, including one where the family quoted me Jesus’ saying, “Those who live by the sword will die by the sword.” I have known too many people caught up first in the heroin trade of the 1980s and then more recently with cocaine.

I agreed that the series is truthful, and on many levels. Those involved in the criminal world of illegal drugs are still people.

I remember Peter (not his real name) who I knew when he was a young lad in the youth club I helped with. He was sitting in our kitchen with a mug of tea. He had bruises all over his face because of a drugs debt he hadn’t paid. One of my daughters came in to get something out of the fridge, and Peter apologised to her for the state of his face, explained it was because of being involved in drugs, and advised her strongly against it. He then asked after her interests and what she enjoyed and was ‘made up’ – happy - when she spoke of liking art. My daughter never forgot that conversation. She learned that people in the drugs trade were still people and could be kind, and that the illegal drugs world was to be avoided. People are both made in the image of God, capable of love and concern, and also flawed and able to be drawn into a trade that affects people so badly across the world.

So, the eight episodes of the first series of This City Is Ours show that the global criminal world of illegal drugs is brutal, violent and full of jeopardy. There are chilling deaths, executions, and vengeance. All truthful to that world. There are power struggles and a vicious family succession battle too. But there are also scenes of the same family at the dinner table, of the longing for a baby with a girlfriend who is very much loved. One moment a character is a hard-hearted killer and the next moment a tender partner. That is so truthful to the different compartments that people can live in: someone can be a loving son who cares for their mother and a ruthless power-hungry toxic gangster.

The consequences of that unnecessary “necessary” action are tragic.

A further truth that I see at every funeral is the ripple effect on partners, siblings, parents, the wider family, and friends, and outward across the community. Every episode of the show features family members: some in the gang, some outside the gang, some wanting a cut of the lucrative proceeds, others desperate to get out from this dangerous, chilling world. What we do can massively affect others close to us. So often family and friends, and a community, must live with the consequences of actions taken in a criminal underworld they are often excluded from and fearful of. Even young children can be affected and dragged into a battle for power.

So, there are truths, but what about the lies? Here’s two stand outs:

“Are we safe?” “Yes, babe.”

We know they are not safe. Definitely not. There’s a target on your back, and often on the family’s back as well.

And the second:

“It was necessary”. Or “f***ing necessary”.

No, it wasn’t. He didn’t have to become engaged in a succession struggle for power, money, and control. He didn’t have to kill someone he looked up to, respected, even loved. The consequences of that unnecessary “necessary” action are tragic.

Then there is the third lie about loyalty and trust. That false sense of being in a gang that will look after you and look out for you, that will secure your future and give you a sense of being someone who counts. From early on, this series shows that people are expendable, can be shot and tossed over a cliff, and that person you looked up to may be an informant to the police. That is maybe how they have stayed out of prison.

A fourth lie the series so truthfully nails is the notion that it is easy to walk away once you have seen through the attractions of money, of Spanish villas, of designer gear, of fragile power. It very often isn’t. You may desperately want a worthwhile life that brings good not bad, peace not killings, a freedom from looking over your shoulder and from a troubled conscience. But there may be money demanded by your supplier, there may be enemies you have made along the way. I have known people successfully move away from it all but that has often only been after a spell in prison, and with a sound alternative - whether a job to keep, a daughter to look after, or a move away.

Wisdom is a much-valued quality throughout history. Five of the Bible’s 66 books are often called Wisdom books and Jesus called Christians to be “wise as serpents and innocent as doves.” This City is Ours is beautifully shot, expertly scripted, brilliantly acted, and it truthfully lifts the lid on the world of the drug-dealing criminal underworld and on some of the lies peddled in that world. And I did explain in the funeral service that when Jesus said “Those who live by the sword will die by the sword” he was not recommending that way of life but warning against it.