Scribd

CHR

IX

192

heBan of Engnd is only one of te 'ay enralBas o have a banker-customer relaoship

;it

he...; outhe Bn of glad hd also a share  he foudation of he

DI.�.:

moreoerhe 0.5. is erely conroled by is iecor�and otys sharehoders, and he oero of he n of :nlad  eocio Diecor* ad omiates a secod Direcor.he nominatedirecorat he me o the outrea o war was Sir tto Jieeyerwho apeed also o e ai o the oard of the

1.3.

foMay

1937

to ay

1940.

e alterate fo the Goveor was/rood.he a o !glad rectos were auraly

amon-

the mos ifuetal o e rectorate.Oe object of he

u.I�.

\a o provide a mee pace for te cooperatio of etra ana poicy arely istued y e ak of EgladVariousoffi cias of he B of ad visted he

�.

1Sro tme otme and ther conacs wee cose and forma.The Goernorrepored o iee o reasury any matter of special nettha had bee dscussed atB.I.S.montyeei&. Thus thecoecto of he k of End h the

dL!.

had aways eea itmate and vital oe.At the ourea o war ad fo e me aferwardsthe Czech <old cide s raked.usde the  ad thoverme  he Ba

1

s positio hs proay never ee horouhlyappreciated ad ther acto at e me was dely misudeodecehe aborma mout of ateio ve o  y hePesariamet and public.Cosequey a carificaon �o fr asauthory can make hem clear o he ssues rsifrom thaepisode see )oh caled for ad  pace hee. recaonof he ful facs would ecessarily be ery o Ud s accounlbe cofied aiy to expressos of a e Goernor deeed

to behsduty

I

ad o suportforhe

;ank's

:ctons.

-

*If heGovernoro one of seven designatedenra_mk: s"unale

oruwiloserve asaDrecto"

.•.

or o make an appoin-

me

the

G

o

vernors

of te

remain_

des';nated banK: or

C

majo

;

ityofthemgh ite twoatonal:

01:

hecounry of t,e Goveroiquesio"otoOectedto by .ealanko t3t

couty".

In

facto use was ever made of ths rosion.

Bank of England Archive (M5/537)

1293

One 2sarc 99 th  asr rv trqustto ranser aou £6 lon ol ro th I; o.Aount to thr No7 Accon ak (athoh t as nousinss o thrs) wer airly sre that tho 2 Aountwas aCzecNatonal ank Accoun and ey v, althouh thy wrno sra  e, a N? Acoun was a hsban. Thaon was raserre on e s ay and a small urer aounon  22nd Bwen  2s and s

i

arch h ol rv one No Accon was isposd o aou

£4

lion gon othaonal ank o Blg and  edrans an andereandr ein� sol n LononIt s clear o e general mmunty rant to te

8I.S



h

t noGoern whih was a pary o th ornaarn t, and ere wer seen o , ncludn< o cours, Gornens o 

U.K

a Frac,coud ha takn any ationunlss thy had ben ppard in  o pac oo, to olatthr raty olaton Th hanor

,

n  Hous o ons on th 5 Junesad -

"1

""



'

souht e adic o  aw crs ona ner oponts



'hat  aou osay s n accordc w neradice.

H.!'

Gonen are prcudd y th trm o eProocols o 1930 ad 936 ro

akin�

any epsy way oe�saon o oers, o pre th Bank o Enand rooey� th nsrucion �ien o  by s orth Bkor Inernaioa :ens to transfr old as ay bnsruced"On

th,

22nd

arc

 ornor auant

e

ottoTrasury thath ha rceid a elepon  a ro

r

ornoro th ank o

'race

proposing

([

t thy shoul r4 thr

spcvTrasuri: oakea jon protst

.0

thPre .idn of

.I ag8nsthepossibldeveryofzc

iS�

t" tot

G

man"

or oGra_conoe 8ec , an oud e els

jon n maknga spcfCrqus o ePr;idenofth

L

I.

.

to

rasrno "zech asses peding henextofue Doard n

asle.

Bank of England Archive (M5/537)

294

He considered

tat

it /QId e ;on and dan�ero forhe futuref the

.I.:

r ' ember o thE ard,particlarfro a atinaltandpoint t attempt fr piticalreason

to

iencedecisins f the Preident  the

JI.3

on matter which

are

en tirel withn he resi den

S

jurisdiction:he had

erefore

declined th proposalsn 26th Na the 8hncer

rote

t

the Governor

askinwhether the k o nad sti held the zech gold, astheiforatn miht hep hm  nswer estions

in the House

TheGernor in his re DOh a did not

ans\er

t



e qestion bpinted ot that the Ban hed god rom ime to ie for the

d

and had no nedge whether  was heir own prpert r that ofheir cstoersence the cod not a heter the od washed or the ationa Ban o zechsovaia.

There

was a frther ld transactn n the 1st Juewhen her were saes of od (440000) and ld hip"ents t ew Yr (£420,000) rom the o.9 Accunt f the

D.I.S

hisrepresented od which had been shipd t Lndn  the[{eichsan This

time beore actn:,

the Bnk f nd referred

te

matterto the Chancelr, wh said ha he wuld e the

opinion

f heLaw fficers f the rwn.On he

dI�

e

n

q





ri

n

:

 however

wat

was casing dea and sang tha nconvenience wod e caedecase of ayens hene da e ank o

En-land

acedn theinstructionswhut refein to te aw Oicers who,hweersseqen pheld ther actin

•

efore the next eetin o he

0

•

,oard

took place(2th une) the overnr wte to the hancelor

to

mae isposi tion clearAter ainthat the nceor recent state

lent

nthe Hose on theCzech

)alances

seem

to

h-e led

to

a cl<aerview of the facts he continued:

I



g

t ase this wee ad s inrer  reventmisunderstandin,

I

shud ikeu to re e

�.Iat

uetions

bycertainebers oftheHouse

of "Olons

do

not.

chan�e

ly

views on nor m atitde

towads,

h ank fr

Intenat'onal

ett ents

I

do nt herefore prope in an wa

to

mdfy thelineo conducwhich fr te

JeGinninL

t

h

e

e

Bank of England Archive (M5/537)