Article
Art
Culture
5 min read

Why is religious art still popular?

What looters, curators and today's public find in a genre that survives the centuries.

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

A painting depicts a man a prophet pointing skywards while another person sleeps on the ground
Detail from Parmigianino’s The Vision of St Jerome.
The National Gallery.

The museums of Europe and North America are filled with religious art. Why? Certainly, gallery goers of the nineteenth century, when many public museums were founded, were more likely to practice a faith than visitors in today’s global cities, but this does not explain religious art’s continuing appeal. If we are so much more secular than the folks in stiff collars and leg ‘o mutton sleeves who curated and donated to early museum collections, why is the religious art they championed still so popular?  

Individual religious paintings’ chequered history, together with the formal elements of their composition, provide two lenses into the genre’s ability to resonate across multiple generations. 

Celebrations around the National Gallery’s 200th anniversary, with its reappraisal of the earliest works to enter the collection, offers an ideal time to study the blueprints for public collections, which continue to shape the art we see today. The French Revolution is popularly credited as the genesis of public art institutions, as the art and fine furniture from displaced aristocrat’s palaces was put on display at the Louvre, opened in 1793. But the idea of a semi-public art collections had been present in Italy from the early eighteenth century, as families opened their palazzos and collections of classical art to visitors on the Grand Tour. Rome’s Capitoline Museum opened in 1734, as the papacy saw an opportunity to showcase the heritage of ancient Rome to the city’s wealthy tourists, and position themselves in the role of art patrons. 

At the National Gallery, Parmigianino’s The Vision of St Jerome, 1526-1527, (reunited for the first time with rare preparatory drawings until 9 March) pulls on many of the threads that makes religious art, even in a secular age, enduringly powerful. 

Painted when Parmigianino was only 24, and already being hailed as ‘Raphael reborn’, the painting is reputed to have stopped looting soldiers in their tracks, when they saw it in the artist’s studio during the 1527 Sack of Rome. The painting itself had an adventurous life, spending far longer in secular surroundings than it ever did in the religious settings it was intended for.  

Commissioned as an altarpiece for a funerary chapel in Rome, the upheaval of the city’s occupation by the troops of Charles V saw The Vision of St Jerome stored, but not publicly displayed, in the refectory of a nearby church. Somehow during the terror and mayhem, the 3.5 metres high altarpiece, weighing nearly 100 kilograms, was transported from the artist’s studio across the city to safety. 

Thirty years later a great nephew of the original woman patron, Maria Bufalini, took the altarpiece from Rome to the family’s Umbrian hometown of Citta di Castello. Had it instead gone to its intended Roman church San Salvatore in Lauro, it would have been destroyed by the church fire of 1591. The Vision of St Jerome stayed in the family chapel of Sant’Agostino, inspiring artists from the region, until around 1772 when Cardinal Giovanni Bufalini moved the altarpiece to the restored Palazzo Bufalini, placing a copy in Sant’Agostino. If the original stayed in the church it would have been ruined by an earthquake in 1789. 

Having spent just over 200 years in a sacred setting, the painting was sold by the Bufalini heirs to an English art agent in Rome, setting sail from Livorno in December 1791 for its new life in England. 

After inheriting Parmigianino’s Virgin and Child with Saint John the Baptist and Mary Magdalene (1535-40), George Watson Taylor, with his heiress wife Anna, added The Vision of Saint Jerome to the significant private art collection, displayed at their London Townhouse in Cavendish Square. In 1819 the painting was exhibited publicly in England for the first time when Watson Taylor lent it the British Institution, the forerunner of the National Gallery. 

Four years later the painting fetched £3,202 at the sale of Watson Taylor’s collection, securing a higher price than Rubens’ Rainbow Landscape. It was purchased by the Reverend William Holwell Carr on behalf of the British Institution. The Vision of Saint Jerome hung in the National Gallery within two years of the institution’s foundation. 

Once part of the nation’s collection, the mannerist style of Parmigianino, with its elongated limbs, twisted torsos, classical drapery and foreshortened perspective, provided a context to discuss the Biblical figures depicted in the work. A loosely draped, seated Virgin Mary holds a tussle haired child between her knees, who kicks one leg out, as if to step away. Beneath them John the Baptist points a massive arm towards the heavens, while a smaller scale St Jerome sleeps clutching a crucifix. Regency and Victorian Christians such as Howell Carr, and popular art historians Anna Jameson and Elizabeth Eastlake, wife of the Gallery’s first director Charles, saw the potential of art created 400 years ago to speak to the spiritual questions of their day. Shorn of a traditional religious setting, the message, and missional potential, of the work came across as powerfully as ever. 

After surviving war, fire and earthquakes, The Vision of Saint Jerome was relocated to Manod Quarry in Wales from 1941 until the end of World War Two to escape the bombing of London. During this period, the National Gallery brought one painting out of storage to view in the empty Trafalgar Square landmark, the war weary public’s Picture of the Month. The tradition continues today.  

For sleep -deprived, food -rationed, scared wartime Londoners Noli me Tangere offered a message of love, loss, transcendence and protection. 

The first Picture of the Month, in 1942, was Titian’s Noli me Tangere, c. 1514. In a rather Italianate Garden of Gethsemane, with glowing sun and tumbling hills, Mary reaches out her hand to Christ. Having tended Christ’s crucified body in the tomb, Mary is grieving, and at first believes the figure before her is a gardener. To her astonishment he reveals himself to be the Christ, resurrected from the dead. Titian portrays the bittersweet moment after Christ’s miraculous return, when Mary comprehends that although Christ is present, she can no longer have any human contact with him, represented by her rebuffed gesture of touch. In common with all Christ’s followers, it is time to relinquish his earthly presence. While the kneeling Mary is bound to the earth, the standing Christ figure forms an arc over her, representing his protection of humanity. 

For sleep -deprived, food -rationed, scared wartime Londoners Noli me Tangere offered a message of love, loss, transcendence and protection. 

Religious art’s continued survival, through eras of supposed indifference, amplifies its specialness and continuing popularity. 

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Article
Culture
Economics
Ethics
1 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.
$Trump coin marketing image.
gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend. 

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin. 

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”. 

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap. 

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.  

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages). 

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history. 

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators. 

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s. 

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities? 

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources... 

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment. 

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis. 

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation). 

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production. 

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold. 

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.  

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains. 

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one. 

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded. 

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank. 

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option. 

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”. 

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud. 

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved. 

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.