search archive

Browse Archive Up

G4 - COURT OF DIRECTORS: MINUTES

Object Type: Folder
In root of archive

▲

Expand to show object metadata

G4 - COURT OF DIRECTORS: MINUTES

Catalogue

Extent: 228 volumes

Admin History: Originally, in 1694, the Court of Directors consisted of the Governor, the Deputy Governor and 24 Directors, of whom only the two former worked full-time in the Bank. It soon became the practice for the Governor and Deputy Governor to serve for not more than two years and for the Deputy Governor to succeed the Governor: this procedure continued, with few exceptions, for over 200 years until Montagu Collet Norman's Governorship.During the 18th and 19th centuries the Committee of Treasury was responsible for drawing up the lists of proposals for Governors’ and Directors’ elections. The Directors retired each year but were eligible for re-election subject to a statutory requirement that not more than two-thirds of the retiring Court be re-elected. This proportion was amended to 7/8 in 1872 and discarded altogether in 1897. In 1848, significant reforms were introduced concerning the ‘rotation of chairs’. The ‘rotation of chairs’ was the practice whereby Directors sat on Court until it was ‘their turn’ to serve as Deputy Governor and then Governor. This meant newly elected Directors had to be relatively young to ensure they were not too old when it came to their turn to be Deputy Governor or Governor (waits of up to 20 years to serve as Governor were not uncommon). But this process also meant new, young Directors also lacked experience. After 1848 there was a whole new emphasis on electing older individuals who had experience and capability, and as a result the Court as a whole became a better qualified group. Whilst the formal ‘rotation of chairs’ was repudiated, the process continued up until WWI. [Ref: 'The Bank of England' eds. Roberts and Kynaston, chapter 7, Hennessy, p.190]From the earliest days there was a requirement that the Court should meet at least once a week. In 1946, with the nationalisation of the Bank, the Court was reduced in number to the Governor, the Deputy Governor and 16 Directors, all appointed by the Crown with provision, as before, for the Court to engage the exclusive services of four of their number as Executive Directors. The term of office of the two Governors was set at five years' duration and that of the Directors at four years, thus facilitating the retirement by rotation of four Directors each year. The requirement that the Court should meet at least once a week was continued and, failing a quorum (nine members), the members available met as a Meeting of Directors rather than a Court of Directors with the proceedings requiring the confirmation of the next following Court.

RefNo: G4

Date: 1694 - 1992

Related Material: In 1899 the 'Chubb' Index was compiled - see G16. Although incomplete, the Index does provide a ready reference to the Court Minutes up to that date and in some cases notes have been added to this series. For Court Directors Minutes from 1993 onwards see 12A110.

Level: Series

Show more ▼

View Gallery

Title ▲ ▼

Description

Date

142 – COURT OF DIRECTORS: MINUTES

27 Mar 1919 - 25 Mar 1920

143 – COURT OF DIRECTORS: MINUTES

1 Apr 1920 - 31 Mar 1921

144 – COURT OF DIRECTORS: MINUTES

7 Apr 1921 - 30 Mar 1922

145 – COURT OF DIRECTORS: MINUTES

6 Apr 1922 - 19 Apr 1923

146 – COURT OF DIRECTORS: MINUTES

26 Apr 1923 - 20 Mar 1924

147 – COURT OF DIRECTORS: MINUTES

27 Mar 1924 - 26 Mar 1925

148 – COURT OF DIRECTORS: MINUTES

2 Apr 1925 - 1 Apr 1926

149 – COURT OF DIRECTORS: MINUTES

8 Apr 1926 - 31 Mar 1927

15 – COURT OF DIRECTORS: MINUTES

3 Aug 1732 - 1 Jul 1736

150 – COURT OF DIRECTORS: MINUTES

7 Apr 1927 - 12 Apr 1928

151 – COURT OF DIRECTORS: MINUTES

19 Apr 1928 - 21 Mar 1929

152 – COURT OF DIRECTORS: MINUTES

28 Mar 1929 - 3 Apr 1930

153 – COURT OF DIRECTORS: MINUTES

10 Apr 1930 - 16 Apr 1931

154 – COURT OF DIRECTORS: MINUTES

23 Apr 1931 - 31 Mar 1932

155 – COURT OF DIRECTORS: MINUTES

7 Apr 1932 - 30 Mar 1933

156 – COURT OF DIRECTORS: MINUTES

6 Apr 1933 - 12 Apr 1934

157 – COURT OF DIRECTORS: MINUTES

19 Apr 1934 - 21 Mar 1935

16 – COURT OF DIRECTORS: MINUTES

8 Jul 1736 - 3 Dec 1741

17 – COURT OF DIRECTORS: MINUTES

Includes reference to the suspension of one of the house servants named Thomas Dowdeswell who had a complaint made against him for 'coming last Monday into the office disordered with liquor and neglected coming the next day' (Thurs 26th March 1747, p.353).

10 Dec 1741 - 28 Mar 1751