Bank of England Parlour. On 19th. November, in 1870, ‘The Graphic’ newspaper published our image above the caption, “The Bank of England – The Bank Parlour.”
Founded in 1694 the Bank of England was established as the English Government’s banker. It remains one of the bankers for the Government of the United Kingdom.
First located in Mercers’ Hall and then in Grocers’ Hall, it moved to its permanent location on Threadneedle Street in 1734.
Privately owned by stockholders from 1694 until it was nationalised in 1946. It remained an agency of government policy until being made independent under the ownership of the Treasury Solicitor, with responsibility for establishing monetary policy since 1998.
The Graphic report states that “from employing a staff of 54 clerks” in its early days, “the Bank has gradually risen to an importance represented at present by about three acres in area, with business requiring the services of nearly 1,000 clerks.”
In 2018, according to the Bank of England’s website, “The Bank of England employs over 4,000 people.”
At the entrance to the ‘Parlour,’ the historic hub of the Bank, appears the motto “Sic vos non vobis” – “thus we labour but not for ourselves.”
This motto appeared on the rim of the £2.00 coin issued to celebrate the Tercentenary of the Bank of England in 1994. It had been the motto of Sir William Paterson, a Scottish banker and founding member of ‘the Bank.’