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

Article
Art
Belief
Culture
5 min read

Critics and curators are missing this about contemporary artists

An interview with Jonathan Anderson

Jonathan is Team Rector for Wickford and Runwell. He is co-author of The Secret Chord, and writes on the arts.

A metak sculpture outlines an altar, stands on a beach.
Kris Martin, Altar.

Throughout much of the twentieth century, many modern artists engaged with religion in and through their work but art critics and art historians routinely overlooked or ignored those aspects of the work when writing about it. They did so because of a secularisation agenda that overrode reflection on key elements of the art that artists were creating. 

In Modern Art and the Life of a Culture, Jonathan A. Anderson, together with William Dyrness, recovered some of the religious influences explored in the work of key modern artists by writing an alternative history of modern art. Now, with The Invisibility of Religion in Contemporary Art, Anderson has addressed the central issue, which is the way in which art critics and historians have written about modern and contemporary art. 

JE: What is it about this situation – that modern art has often wrestled with God, but critics and curators haven’t always shared that focus – that engages your interest and motivates you to write so compellingly about it? 

JA: The more I have studied and circulated through the worlds of contemporary art (first as an artist, then as a critic), the more attentive I became to significant disconnects in the ways we talk and write about religion in modern and contemporary art. Many prominent artists working today and over the past century have been shaped by religious traditions, and their works are in serious dialogue with those traditions in various ways and from various perspectives. Their relationship to religion might be highly conflicted or nuanced—it often is—but it is a live issue in their work and one can talk with them about it in their studios or in informal settings. But when one moves to the critical writing and public discussions about these artists’ works, this aspect either disappears altogether or is discussed in ways that are clumsy, stifled, or shapeless.  

The aim of a lot of my work is to understand in a non-superficial way why this has been the case, why there has been a recent resurgence of discussions of religion and spirituality, and how we might develop more substantive ways of thinking and speaking about these topics. 

JE: What did you find most surprising as you undertook the research for both books? 

 JA: I am consistently surprised at how sprawling and dense this topic is. Once one begins rethinking ‘the strange place of religion’ in the histories of modern and contemporary, the more one finds that there is an enormous amount of material that deserves renewed investigation. Both books give a strong sense of this, but chapter three in my new book is especially full of sign-pointers toward items that require further exploration. 

To give one concrete example, I found myself referring to several major curated group exhibitions that, in one way or another, significantly address topics of religion and spirituality in twentieth- and twenty-first-century art. As I began to look more seriously at the history of such exhibitions, this curiosity swelled into a huge endeavour. Over the course of several years, I assembled a long list of exhibition catalogues and other documentation—the most comprehensive list of its kind that I’m aware of—which in turn helped me not only to recognize how prevalent interest in these topics has been but to think through the diversity of approaches. A version of this list is published in The Invisibility of Religion in Contemporary Art as an appendix, and the full, updated list is also available on my website. I hope it’s a valuable resource for others. 

JE: Both books offer ideas and suggestions for constructive ways to understand, address and write about the relationship between art and religion going forward. In Modern Art and the Life of a Culture there is the idea of a charitable hermeneutic, while in The Invisibility of Religion in Contemporary Art you offer substantial new frameworks for discussing art and religion. Why is it important that the dialogue between art and religion finds paths to conversation rather than conflict?       

JA: This is an important question. The public dialogue between contemporary art and religion has been relatively dysfunctional for much of the past century, often riddled with mutual antagonisms, melodramatic controversies, misunderstandings, and mutual unintelligibility. But art and religion are complex, vital domains of meaning that have continued to deeply shape each other up to the present and that have an enormous amount to ‘say’ to one another today, both critically and constructively. My own experience is that the more the participants in this conversation become attentive to and conversant in the other’s history, vernacular, and ways of thinking, the more highly constructive and mutually enriching the dialogue becomes.  

I think this kind of dialogue has everything to do with cultivating mutual care and love of neighbour. The art world is a series of loosely connected communities full of people who are your and my neighbours. I happen to really care about these communities who make, exhibit, and talk about art, despite their problems. And the same might be said about various religious communities, who have their own problems and who often have more complicated interrelations with those art communities than is generally recognized. Wherever you’re coming from—the arts, the church, or otherwise—I’m interested in expanding dialogue oriented toward loving one’s neighbours, or even one’s enemies if that’s how it must be. At the most basic level, that means listening in a way that tries to discern others’ animating cares and concerns. 

JE: Do you see any parallels or differences between the way the relationship between secularism and religion has played out in the world of art and the way the broader relationship between the two has been shaped in Western society in the same period? 

JA: This is a fascinating but complicated question. For some people, the whole point of the artistic avant-garde was to enact and exemplify, in a highly concentrated way, the secularization of Western society. At the same time, however, it was also widely recognized that the arts have, in almost all places and times, been deeply interconnected with religion and spirituality, and this was, in some conflicted or repressed way, still likely the case for much of the avant-garde as well. 

Secularization has meant the pressurizing and pluralizing of religious belief, sometimes corresponding to disaffiliation from traditional organizations, but this has relatively little to do with an eradication or obsolescence of religious belief. Indeed, any notion of what Rosalind Krauss memorably described as an ‘absolute rift’ between ‘the sacred’ and ‘the secular’ is really just shorthand for some kind of social conflict, because there’s not really any rational way to absolutize these as mutually exclusive. Whether acknowledged or not, religion still provides the metaphysical and ethical groundings of modern secularity, and modern secularity provides the social conditions for contemporary religion. In this context, distinctions between religiosity and irreligiosity are often ambiguous, running through each of us in unexpected and ever-changing ways (rather than simplistically separating us from each other). In my view, contemporary art is highly illuminating to these broader dynamics. Anyone who has spent any extended time in the worlds of modern and contemporary art knows that they are full of spiritual and theological struggle. To put it succinctly: contemporary art is not an art of unbelief and nonpractice but an art of conflicted, pressurized belief and practice, which is theologically significant if attended to as such. 

 

The Invisibility of Religion in Contemporary Art, Jonathan A. Anderson (Notre Dame Press)