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
Addiction
Culture
Film & TV
Monastic life
5 min read

Mother Vera: from heroin addict to heroine helping the recovering

The horse-loving orthodox sister with a liturgy for life, and a dilemma.

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

A nun on a white horse, gallops across a snowy field, in black and white
Equine therapy.
She Makes Productions.

Across the arts, the recovery journeys of people with addiction and mental health issues are being re-narrated, giving voice to the navigators of their own personal transformation. In Mother Vera, the Grierson award winning documentary about a recovery community surrounding the Saint Elizabeth Monastery in Minsk, ritual and nature’s unfolding therapeutic power take centre stage. 

From Sister Act I and II, to The Sound of Music and Black Narcissus, big screen depictions of women’s monastic life tend to be overwrought. But Mother Vera is different. Shot in black and white, Cécile Embleton and Alys Tomlinson’s documentary visually pays subtle homage to Black Narcissus’ bell tower scene, with a nod to Citizen Kane here and a wink to Andrei Tarkovsky there, but the overall tone is sober, in every sense of the word. 

At the heart of the film is charismatic Mother Vera, a horse-loving orthodox nun, whose story of heroin addiction and betrayal by her onetime partner is micro dosed throughout the film. Surrounding Vera are a team of world-weary men, who she organises into readers for the monastery’s liturgies, as well as directing them in caring for the community’s cows and horses. They declare themselves “snowed in” by the monastic routine of “processions and liturgies” and relentless rounds of physical labour: shovelling snow and ice, feeding and grooming the animals. But the recovery community also acknowledges the bounded routines of the monastery keep them alive, able to face down their longing for drugs and drink. The rhythm of the natural world is woven into the liturgical year as Christmas cribs are replaced with Easter celebrations, all linked by scenes of candlelight, prayers and genuflections.

Early on in the film, Vera slips a puffa jacket over her black habit and gallops across the snow on a white horse. Without giving away too many spoilers, Vera’s desire for a life beyond the borders of the monastery grows as her story develops. Visits to her family show adolescent nephews and godsons growing into strapping maturity in her absence. Her mother relates the time Vera overdosed, 20 years ago, and doctors told her “to prepare for every outcome.” Vera reflects on how her charisma influenced “fresh faced girls” to become heroin users. For Vera, heroin went from being a portal of insight and revelation, to “showing its true face” which was diabolic. In monastery community meetings men praise how Mother Vera helped them to “reconstruct”. 

Vera initially joined the monastery for a year, to wait out her partner’s prison sentence. Twenty years on, she has reached a new phase of her own reconstruction. Immersing herself in a river, her parting words are: “Let’s move on. Let’s continue. Amen.” 

The community at Saint Elizabeth Monastery echoes the residents of W-3, the psychiatric ward in the American teaching hospital described in Bette Howland’s memoir W-3 first published in 1974, and republished four years ago. The author is admitted to hospital following an overdose, while she struggles to raise two children alone, on a part time librarian’s wage, while also trying to write. “For a long time it had seemed to me that life was about to begin – real life. But there was always some obstacle in the way. Something to be got through first, some unfinished business; time to be served, a debt to be paid. Then life could begin. At last it had dawned on me these obstacles were my life. I was always rolling these stones from my grave.” 

Howland positions the institutionalised rhythms of the hospital as the supreme life force, and ultimately more curative than talking therapy or medication. “For the sick in their beds were invisible. They were there only by implication. They must have existed, if only for the sake of this other life, full of importance – the bustling arms, starched coats; the carts, mops, ringings, beepings; the brisk comings and goings of white stockinged nurses.” The invisible, timeless guiding spirit of the hospital “as mysterious as a submarine”, would prevail regardless of what the medical staff or patients did, or resisted doing. Realising they were not the ones calling the shots, was the first step for Howland and her fellow patients to returning to life outside the hospital. 

Accepting community and kinship, rather than superiority or aloofness, with others in recovery is also a key feature of Saint Elizabeth Monastery and W-3. “Nothing was original on W-3, that was its truth and beauty,” writes Howland. And continually telling and re-telling her story to fresh batches of medical students, under a psychiatrist’s supervision, eventually allowed it to be transcended. “It is not strictly accurate to say that these interviews were of no use to us. Because you would have to tell your story yet once more, all over again. And each retelling, each repetition, hastened the time when you would get tired of it, bored with it, done with it – let go of it, drop it forever – could float away and be free.”  

In Mother Vera members of the lay community argue about accepting a new member, who may have been raped in prison, and is labelled a “downcast”. But the argument against allowing prison hierarchies to overshadow their new community wins the day, with the new member being integrated, and objectors accepting “you are no better than him.” 

Contemporary approaches to mental health and wellbeing also pivot on an acceptance of shared humanity and imperfect day to day life with its relentless demands, as well as acknowledgement of a power outside human control. In the Netflix documentary Stutz, actor Jonah Hill charts his sessions with Hollywood psychotherapist Phil Stutz. Stutz counsels his clients there is no escape from pain, uncertainty and hard work. To try to avoid these conditions, whether through fantasy or substance or addiction, is to live in the Realm of Illusion. Progress and satisfaction can only be achieved by embracing the here and now, and doing the next necessary thing for life to continue. Stutz calls these actions the String of Pearls, urging his clients to be the one to put the next pearl on the string. The outcome of the action is immaterial, it is the self -belief fostered by taking real world positive action in support of self-flourishing, that is critical. 

Stutz believes in a force for good he calls Higher Forces, and a malign force thwarting human growth he calls Part X. For Mother Vera her latter days at the monastery when she felt she could be of more service in the outside world were “tricking God”.   

From a Minsk monastery to a Hollywood therapist’s office, to a 1970s hospital, an acknowledgement of the divine, together with an embrace of each other and demands of daily life, emerge as key tenets of recovery’s long road. 

 

Mother Vera is released in the UK from 29 August.

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