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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Attention

Culture

Mental Health

War & peace

3 November 2025

4 min read

Keep calm and don’t cry? Why Remembrance Day needs emotion

We gather to grieve—but only in ways that won’t make others uncomfortable

Henna Cundill

Henna is a researcher with the Centre for Autism and Theology at the University of Aberdeen.

King Charles, Remembrance Sunday, 2023.

The Royal Family.

In the coming days across Britain, the poppied public will gather around cenotaphs. Polished boots, flapping scarves, bowed heads, fidgety Brownie-Guides, regimented Cadets – all will pause in hushed reverence as the Last Post echoes in the cold air. It’s a scene that’s meant to unite us, a national ritual of grief and gratitude.

But for one close friend of mine, it is a ritual that is almost unbearable. She doesn’t go to local remembrance events anymore. Not because she doesn’t care, but because she cares so deeply that she weeps. Real tears - big ugly ones. And while the music is designed to evoke poignancy, and the silence is meant to be solemn, she fears that her public displays of emotion are perceived by those around her as a bit over the top. Surely the British stiff upper lip ought not to tremble, let alone cry? We are the nation of Keep Calm and Carry On after all. So, she stays away.

Philosopher Sara Ahmed, in her book The Cultural Politics of Emotion, offers some profound insights into why we act the way we do about our feelings. Ahmed writes that emotions are often cast as a kind of weakness – a betrayal of our ability to reason. They are something messy and animalistic, something we are meant to control. In this view, to show emotion is to reveal that you have been shaped by something or someone outside yourself. It reveals that you are vulnerable, only human after all.

And yet – isn’t that exactly what Remembrance is about? When we gather at a cenotaph, we are not there to demonstrate the stiffness of our upper lips. We are there to grieve; we are there to be moved by the stories of young lives cut short, families broken, sacrifices made. The very design of the ceremony – the bugles, the silence, the laying of wreaths – is intended to stir emotion. Yet, paradoxically, there is a hidden social code of conduct that seems to say: but not too much.

Ahmed explores several ways in which the social world shapes our emotional lives. Emotions, she argues, are not just private feelings bubbling up from within, they are also social, and they can be contagious. The atmosphere of a Remembrance service is just that – carefully crafted to invoke communal feeling: solemnity, pride, sadness, reverence. The power of such rituals lies in the way they gather us into a collective “we.” But that same collective can turn cold when someone expresses too much, breaks the silent script, or cries too loudly.

In one of his letters to the first Christians, the apostle Paul wrote: “Rejoice with those who rejoice, weep with those who weep.” It’s a call not just to feel one’s own emotions, but to enter into the emotions of others, to share in them and show solidarity. And this, in essence, is what the cenotaph service is all about. It is a physical and symbolic place to “weep with those who weep” – to acknowledge that loss and grief are not individual experiences, but shared ones. A soldier’s death, whether in historic conflict or in the present day, is not just a family’s burden. A death on behalf of all of us belongs to all of us.

So why do people seem uncomfortable when someone like my friend weeps openly in this space? Perhaps it is the long shadow of British wartime stoicism. At one time, the slogan “Keep calm and carry on” was intended to protect a struggling populace from giving in to despair, it was intended to create a shared emotion of resilience. But perhaps an unfortunate side effect is that it has perpetuated a notion that dignity lies in restraint. This is a cultural script, and it isn’t universal. In many parts of the world, public mourning is expected, even encouraged. Wailing, keening, clutching each other in grief – some cultures see these as honourable ways of expressing sorrow. They honour the dead by fully feeling their absence.

We need to ask ourselves: what is lost when we suppress this kind of mourning?

When we limit how people are allowed to feel – or, at least, how they are allowed to express their feelings – do we risk losing the very power of the ritual? Do we risk turning the cenotaph into a site of performance rather than connection, excluding those who feel too deeply to fit inside a narrow band of “acceptable” solemnity?

This is not a call to abolish the dignity of Remembrance Day. But perhaps it is a plea to broaden our understanding of what dignity can entail. Sometimes, it looks like silent contemplation. But perhaps sometimes it looks like messy tears streaming down your face in front of strangers. Both can be powerful; both can honour the sacrifices of war.

As Ahmed notes, shared emotion can create a sense of “we.” It is why we go to movies together, cry at weddings, laugh at sitcoms in the company of others – emotional moments bond us. In this way, emotions are not just personal, they are political. In the context of Remembrance, they remind us that war is a human tragedy, felt in human hearts. Even though today, fewer families have direct ties to the armed forces, and fewer people personally know someone who has served or died in uniform, yet, the cenotaph ceremony still calls us together and asks us to care, to remember, to mourn – and it gives us permission to cry before we carry on.

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