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Bank of England Archive (M5/533)
mTRODUCTO"Y
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Bank of England Archive (M5/533)
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Bank of England Archive (M5/533)
(includine definitions of the g:me): special arran<;ements for ,ert
leadig industries and commodities; and relations ,-ith the U. S. A. ,
Canadian and Sterling Area Controls.
Prt 111 deals ,-1th fina-cial relations uith the U.S.A.,
Canada and certain other (e.g. Special Account) countries; it
includes chapters on the Bretton 'ioods di, cussions, on the B.1.S.
and on repatriations and conversions in the Dominions,
Also,
since Exchange Control was primarily instituted in order to
protect them, on variations in the central reserves - their
expansion and contraction as the external Balance of Pa'ments (of
the U,K, alone and of the Sterling Area as a unit) improved or
(more often) deterioriated.
Part JV may be said to be concerned uith all other
aspects of the Bank's particular functions an the country's
Central Bank: its relationships ''lith various organisations with
which its buniness is intimately connected - o-her banks,
Accepting and Discount Houses, Insurance Co:npanies, the Uational
Debt Commissioners (of pramount importance as a medium for "",ll"
savings and important also as an instrument of Vrkot control),
other Government Departments, the Capital Ismcs Coml1ittco and the
Stock Exchange, The administration of stoff and premises, a wide
subject, also comes Nithin its scope.
The History is set out as a series of ch"iptcrs in which'
treatment of their subject mater is designed to tell the :lJin
story - sectionally rather than chronologically, though chapters
endeavour to record develoments in their correct sequence. he
many de'ailed explanations of arranc:lents r.ade to meet various
contingencies are in practice relegated to a series of apendices,
some very long, to V/hich ap!ropriate reference is made '.n the
chapters of the main History. This should enble rcdin to be
transferred from the one to the other as and 'he: necessar, or
desirable.
The
Bank of England Archive (M5/533)
The balance bet'een the main story and the appendices
naturally depends upon the character of the subject mtter. The
chapter on "Gold" in the main History contains less than 8,000
Nords I'1hile the appencices run to about 35,000. Under "Finnlcial
Relations Wth the U. S. A . '` the proportions are reversed: the
main chapter contains some 20,000 words and the apendices on
Lend-Lease administration, Mutual Aid, etc. about 10,000.
Appendices are of t\\fO kinds: some consist mainly of J nte"p"etati"
of the Regulations to were refugees, internees, etc., and what
treatment did they receive?); others are more in the nature of
supplementary chapters. All Establishments :natters (in Part IV)
1533 - 1534
1535 - 1536
1537
1538 - 1586
1587 - 1616
1617 - 1640
1641 - 1652
1653 - 1713
1714 - 1723
1724 - 1732
1733 - 1741
1742 - 1743
1744 - 1750
1751 - 1752
1753 - 1755
Bank of England Archive (M5/533)
l
GOVERNORS AND DERTY GOVERNORS OF TH BAN
during the war period - 3rd September
1939 to
TH RT.HON.MONTAG COLLET NORMA,
D .S.O.,
LORD CATTO OF CAIRNCATTO, tI
BASI L GAGE CATTRNS, ES0.
CAMERON FROMANTEEL COBBOLD. ESQ.
:"~-
Governor from ++ 1920
to 17th April 1944
Created Baron Norman of St.Clere,
27th July 1944.
Deceased 4th February 1950.
Governor from 18th April 1944
to 28th February 1949
Sworn a Privy Councillor
25th July 1947
Deputy Governor from 31st March
1936 to 31st August 1945
De9uty Governor from 1st
1945 to 28th February
Governor from 1st March 1949.
DALLAS GERALD MERCER BERNARD, ESQ. Deputy Governor from 1st March
1949.
Bank of England Archive (M5/533)
2
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TH T11 9J
IVC J1J C_( TOBTOG .L. ZTH uUDO
ary 1946.
|\"
Deouty Governor from 1st September
1945 to 28th February 1949.
Governor from 1st March 1949.
Resigned 30th June 1940 on his
apPOintment as Financial Adviser
in R.M.Treasury.
Governor from 18th April 1944 to
28th February 1949.
Sworn a Priv: Councillor
25th July 1947.
Resigned 2nd August 1945 on his
election as Member of Parliament
for Bth.
Created Baron Keynes of Tilton
11th June 1942.
Deceased 21st April 1946.
Retired 28th February 1946.
* "
7?-
+Fl18.
1
Resigned November 1949 on
his appOintment as Deouty
Chairman of the Colonial
Develooment Corporation.
Resigned 15th December 1948.
- 2 -
Bank of England Archive (M5/533)
A GEORGE IANSBROUGH, ESQ.
(Appointed lt Je 1946)
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ff
3
ff
5
II
8
If
1t
11
If
17
ff
28
October 10
ff
16
November 4
f1
30
Mrch 12
April 9
ff
10
..
y 10
ff
10
W
14
W
15
W
Z
f1
28
fI
28
ll
Capture of Narvik
Belgian Army capitulated
Dunkirk evacuation
W
30 - June 3
Norwegians ceased hostilities June
British withdrew from Norway
ft
10
!tely
Bank of England Archive (M5/533)
1940 (contd. )
Italy declared war on Britain and France
Germans entered Paris
British offer of Anglo-French union rejected
Petein Government formed
French Armistice with Germany
French Armistice with Italy
General de Gaulle recognised by U.K. Government
as leader of Free French
Channel Islands: Guernsey occupied
Jersey occupied
Vichy Government broke off relations with
Great Britain
Italians invaded British SOm6liland
Battle of Britin began
First all-night raid on London
AnglO-American Agreement - sea and air bases
granted in exchange for 50 destroyers
Bank of England bombed
Italian invasion of Egypt
Battle of Britain climax
U. S. Conscription Act
Axis Pact: Germany, Italy and Japan
Italy attacked Greece
Allied Desert Offensive (Africa)
Mr.Ryti elected President of Finland
Fire raid on London (Guildhall and 8 Wren
churches destroyed)
1941
M. Vlnant to succeed Mr. Kennedy as
U. S.Ambassador to U.K.
Bulgaria signed pact with Axis
U. S. Lend-Lease Act
Nationel Service Bill
Pro-Axis coup d' etat in Iraq
Severance of diplomatic relations between
U.K. and Hungary
Germans invaded Greece and Yugoslavia
l<
June 11
::
14
::
i
v
17
::
22
::
2.
::
28
::
30
July 1
u
5
August
8
v
26/27
September 3
::
8
::
13
::
15
:
16
::
27
October 28
December 9
::
19
:
29/30
February 7
March 1
::
11
n
26
April 3
::
4
::
Salonika
Bank of England Archive (M5/533)
1941 (contd.)
Salonika occupied by Germans
U.S. took Greenland under her protection
Belgrade occupied by Germans
Germans entered Athens
Allied withdrawal from Greece
Rudolf Hess landed in Scotland
House of Comons destroyed (last heavy raid
on London in 1941)
Germans invaded Crete
President of U.S.A. proclaimed state of
"
unlimited
"
national emergency
Iraqi revolt collapsed
British Forces completely withdrawn from
Crete
Germany invaded Russia
Finland resumed hostilities with Russia
Anglo-Soviet Mutual Assistance Pact
Syria and Lebanon under Allied control
Japanese troops landed in Indo-China
Mr.Churchill and President Roosevelt agreed
on Atlantic Charter (published August 12)
British and Russian troops entered Iran
French National Committee established
British and U.S.Delegations to Three-Power
Conference in Moscow
Battle for Moscow
Syria given independence
Imperial Forces took offensive in Libya
Sections 2, 3 and 6 of U.S.Neutrality Act
repealed*
Lebanon given independence
Pearl Harbour attacked by Japanese
U.K. declared war on Finland, Hungary and
Roumania
U.S.A. and U.K. declared war on Japan
Australia, New Zealand and S.Africa declared
war on Japan
*For financial section, see 21.2.42.
13
]pril 9
u
10
"
13
w
27
w
22 - My 1
May 10
n
10/11
n
20
n
27
"
30
June 1
n
22
"
26
July 1<
n
19
n
26
August 11
"
25
September 25
u
October 5 - Ic6lbr 6
"
28
November 18
n
18
w
26
December 7
n
7
n
8
n
9
lndo-China
Bank of England Archive (M5/533)
1941 ( contd. J
Indo-China declared
"
enemy territory
"
by U. K.
Thailand occupied by Japan
Prince of Vlales and Repulse sunk
Germany and Italy declared war on U. S. A.
Mr. Churchill in Washington
St .Pierre et Miquelon occupied by Free French
Fall of Hong Kong
Mr. Churchill in Ottawa
1942
26 Nations Pact signed in V/ashington
Ethiopia: Sovereignty of Haile Selassie
recognised
Fall of Singapore
Section 7 ( FinancialJ of U. S. Neutrality
Act abrogated
Mutual Aid Agreement ( U. S. A. -U. K. J
Battle of Jav Sea
St.Nazaire raid
U. S. Forces at Bataan surrendered
First
"
Baedecker
"
raid (ExeterJ
u. s. garrison at Corregidor surrendered
British land on Madagascar
Twenty-year Anglo-soviet Treaty signed
Extended Empire air-training agreement signed
in Ottawa by U. K . , Canada, Australia and
New Zealand
Mr. Churchill in U. S. A.
Fall of Tobruk
Germans reached El Alamein
Germans captured Sevastopol
Germanp withdrew from El Alamein
International wheat agreement
Montgomery took command of 8th Army
Mr. Churchill in Moscow
Comando raid on Dieppe
Brazil declared war on Germany and Italy
December 9
"
M
M
"
"
"
M
January
"
February
"
"
W
1
9
10
11
23
2.
25
29
31
15
8J
23
27
March 28
April 9
W
24
May
W
5
M
26
June 5
"
18
-
27
"
21
July 1
W
1
"
2
"
2
August 1
W
12
W
19
"
22
I4
Germans
Bank of England Archive (M5/533)
1942 (contd.)
Germens reached Stalingrad
Allied offensive resumed in Egypt:
El Alamein
Armistice signed in Mdagascar
Allied Forces landed in North Africa
U.S.relations with Vichy France broken off
German Troops entered unoccupied France
Axis forces driven out of Egypt
German forces entered Toulon.
in harbour scuttled
French warships
Russian forces flung back Germn counter
attacks on Stalingrad and central front
1943
Casablanca Conference (Churchill-Rooseveltj
Russians raise siege of Leningrad
8th Army entered Tripoli
German forces at Stalingrad capitulated
Genera 1 Eisenhower aPPOinted to Command
in North Africa
Soviet Government broke off relations with
Poland
First concentrated raid on Berlin
Tunis captured
Axis forces in Tunisia surrendered
Conference on Food and Agriculture at
Hot Springs opened
Treaties with China renouncing British and
U.S.extra-territorial rights ratified
Canadian Mutual Aid Act passed
Sicily invaded by Allies
Mussolini resigned
Fascist Party dissolved
AnglO-American Conference in Quebec
Resistance in Sicily ceased
French Committee of National Liberation
recognised by Allies
15
September 5
October 23
November 5
W
8
W
M
11
M
12
W
27
December 18
January 14 - 24
W
W
18
23
February 2
1
6
T
26
March 1
May 7
May 13
W
18
W
20
W
24
July 10
W
25
M
26
August 11 - 24
W
17
W
26
Italian
Bank of England Archive (M5/533)
1943 (contd.)
Italian Armistice signed
Mr.Churchill QB8 in Washingto,n
Italy declared war on Germany
Tripartite Conference in Moscow
Lebanon: French arrested President, Prime
Minister and other Ministers
Cairo Conference: General Chiang Kai-Shek,
Mr.Churchill and President Roosevelt
Teheran Conference: Mr. Churchill,
President Roosevelt and Marshal Stalin
Cairo Conference: President Roosevelt,
Mr.Churchill and President of Turkey
1944
General Eisenhower assumed duties of
C-in-C A.E.F.
Argentina broke with Axis
Anglo-French Mutual Aia pact signed
Mutual Aid Agreements signed between
Canada, U.K., Russia and Australia
Puppet government installed in Hungary
by Hitler
Germans occupied Roumania
Russians entered Roumania
De Gaulle became head of French armed forces
Greek Government resigned
Military and Political Co-operation Agreement
signed by Yugoslavia and Italy
Britain suspended foreign diplomats privileges
(except U.S. and Russian)
Turkey banned chrome exors to Germany
Marshal Badoglio formed new Italian
Government
Empire Prime Ministers met in London
Britain and U.S./Norway, Netherlands and
Belgium Agreement signed concerning
administration of liberated territories
Rome occupied by Allies
Allies invaded France (
"
D-Day
"
)
Portugal stopped wolfram exports to Germany
l1
September 3
M
11 - 1.
October 13
M
1.
- 30
November 11
M
22 - 26
"
28
December 4 6
January 16
M
26
February
March 16
M
22
"
23
"
31
April 4
"
5
W
10
M
17
"
20
"
20
May l
W
16
June 4
W
W
6
7
8
Marshal
Bank of England Archive (M5/533)
(contd.)
Marshal Badoglio resigned: new Italian
Government
First flying bomb launched against London
Termination of baD on use of Diplomatic
Bags by diplomatic missions
U.S. severed diplomatic relations with
Finland
Attempted assassination of Hitler by
German Generals
Allied landings in France from
Mediterranean
Paris liberated
Roumania declared war on Germany
Finland broke off diplomatic relations
with Germany
Brussels liberated
Bulgaria declared war on Germany
First V2 in London Area
Armistice signed between Russia, Great Britain
and the U.S. and Roumania
Russo-Finnish peace terms published
Mr.Churchill and Mr.Eden visited Moscow
U.K., Dominions, U.S.A. and U.S.S.R.
recognised de Gaulle's Administration as
provisional Government of France
Armistice Signed between Bulgaria and the
Allies
All Belgium freed
Lord Moyne, British Minister in Middle
East, assassinated in Cairo
President Roosevelt elected for 4th term
Anglo-U.S. air talks began
Canada: Mackenzie King announced
conscription for overseas service
Polish Premier in London resigned
Antwerp re-opened to traffic
Soviet-French Treaty
Mr.Churchill and Mr.Eden opened
Conference at Athens
Hungary declared war on Germany
June 9
W
13
W
19
ft
30
July 20
August 15
ff
25
f1
25
September
fI
ff
ff
W
W
2
3
7
8
13
20
J
October 9 - 19
ff
23
11
28
November 3
ff
6
ff
7
ff
11
ff
23
W
23
W
28
December 10
ff
23 - 26
1f
30
Bank of England Archive (M5/533)
Lublin Polish Provisional Government recognised
by Soviet Government
Russian and Polish troops captured Warsaw
Crimea Conference at Yalta
Peace Treaty in Greece concluded
Budapest completely occupied by Russians
Rhine crossed at Remagen by UoSoforces
Four-Power economic pact signed in Paris
Last rocket (V2) fell (at Orpington)
All Hungary liberated
Chile declared war on Japan
British and UoS.Governments recognised
Argentine Government
President Roosevelt died
Vienna liberated by Russians
Mussolini executed by Italian partisans
Unconditional surrender of German armies
in Italy: (Hostilities ceased 2nd My)
Death of Hitler in Berlin announced
Berlin surrendered to Russians
German First and Nineteenth Armies
surrendered to American forces
German forces in Holland, NoWoGermany,
Denmark, etco, surrendered
Unconditional surrender of all German
fighting forces
Victory Holiday
World Security Charter signed at
San Francisco
First atomic bomb dropped on Japan
(Hiroshima)
Russia declared war on Japan
Japanese surrender
1^
January 5
W
17
February 6
M
12
W
13
Mroh 7
M
20
M
27
April 4
M
5
W
W
12
W
13
W
28
M
2.
My 1
M
2
W
4
W
5
W
7
W
8
June 26
August 6
W
8
W
14
Bank of England Archive (M5/533)
lU
II Internal Administration and Financial
1936
Devaluation of French franc
1937
"Cash and Carry" Bill passed by U. S. Senate
Chancellor informed the House that the
E. E.Fund was to be increased by 200 million
1938
Mr.Eden resigned office of Foreign secretary
1939
Conscription introduced into U. K.
stock Exchenge closed
Bank Holiday (affecting Banks only)
Stock Excbange: all dealings for casb:
minimum prices for certain securities
Cbancellor' s letter to Bankers asking them te
restrict certain classes ef Advances
3% Defence Bends, Pest Office issue, placed
"on tap"
1940
Exchequer provided 1 million a week to control
food prices
3% War Loan 1955/9 Prospectus issued
5 exports to certain territories to be
invoiced in hard currencies
3% War Loan issued
All exports to certain territories to be
-
veiced in bard currencies
Angle-Netherlands Financial Agreement
2
t% National War Bonds 1945/7 : first
Tap Issue
First Treasury Deposit Receipt Borrowings
s d
Income tax 8/6 in the
"War Weapons" weeks began
September 26
Mrch 3
June 25
February 20
April 26
September 1 - 6
W
4
W
7
M
26
November 22
January 31
Mrch 5
W
7
W
12
June 7
W
14
W
24
July 6
W
23
September 18
Anglo-Turkish
Bank of England Archive (M5/533)
l(contd. }
Anglo-Turkish Financial Agreement
10 million credit to China announced
War Damage Bill introduced
2t% National War Bonds 1946/8 placed
"on tap"
3% Savings Bonds 1955/65 placed "on tap"
1941
Anglo-French Financial Agreements signed
Free French territories included in
Sterling Are8
British loan to Sp8in: 2t million
U. S. froza German and Italian assets in
U.S. A.
U.K. credit to Russia of 10 million 8t
3% for 5 years
"Vrships" weeks began
1942
Government took over Railways and L.P.T.B.
Billion dollar gift by Canada
British and U.S.Loans (50 million and
125 million respectively) to China
New Anglo-soviet Arms Agreement signed
in Moscow. Further British credit
of 25 million
B. O. T. fixed prices for all textiles
and utility boots
Beveridge Report on Social Security issued