John Soane and the Bank of England

When the profession of architect emerged in the Western tradition, typical clients were drawn from the ranks of Dukes, Princes, Sovereigns, Archbishops and Popes.  Sir John Soane who worked for 45 years as architect to the Bank of England must have been the first to be employed by corporate finance, designing a group of major banking halls and a grand rotunda. He oversaw every detail of the construction process from the acquisition of land to the choice and sourcing of materials. Soane’s property dealing enabled the bank to realise its ambition to detach itself from the tightly packed jumble of city streets around its boundaries and develop an island site, fit to repel intruders.  Whenever the nation’s leaders embarked on a military conflict or a naval adventure they turned to the bank to raise the finance.  Britain’s colonial expansion was financed from the same source.  The great families of the landed gentry and the rising merchant class looked to the bank as a secure resting place for their assets to generate revenue.  It was a private company whose existence was absolutely crucial to the imperial project from the mastery of the seas to the murky business of extracting value from colonial possessions via the deployment of slave labour.

In a business where trust was vital, the bank had to maintain a spotless reputation for integrity and financial rectitude - it’s instructive to browse the official portraits of past Governors and Deputy Governors to observe their formidably impassive and callous expressions, radiating moral certainty with a flavour of the parsimonious, ill-concealed behind luxuriant displays of facial hair.  It was equally important that the buildings should play their part - on the exterior by presenting facades of impregnability while internally impressing the visitor with grand spaces supported and enclosed by substantial forms designed to convey an overwhelming impression of stability and probity. Soane went above and beyond the call of duty to meet his employer’s requirements in every respect throughout his 45 years in office.

The Bank that Soane built was an institution that dealt directly with the public and the great banking halls, each dedicated to a specific type of investment would be thronged with customers for most of the working day.  This changed over the years as some of the Bank’s functions migrated over the road to the Royal Exchange while financial transactions became increasingly paper-based requiring much less handling of currency while documentation could be delivered by the postal service. By the 1920s all of the Soane-designed public spaces had been sub-divided into cubicles as the Bank ran out of office space and it was decided to embark on a major rebuilding programme of expansion.  Sir Herbert Baker was the chosen architect. Baker had moved from South Africa with a reputation for designing mediocre and pompous civic buildings to England where these qualities were easily mistaken for greatness. Monumental imperialist bluster was his trademark with a sideline in war cemeteries and memorials. By the time Baker’s work was complete the Bank had more than doubled in height leaving Soane’s facade overshadowed by a massive classical portico.  All four of the lofty, light filled, beautifully proportioned banking halls were demolished, an action denounced by Pevsner as “the greatest architectural crime in the City of London of the twentieth century”. this judgement was unlikely to trouble Walker who was knighted shortly after his ruination of the Bank and would go on to work alongside Lutyens on the rebuilding of New Delhi in the 1930s. When he died in 1946 he was buried in Westminster Abbey.

Postcard publishers would regularly dispatch their photographers to record the Bank and the Royal Exchange, a motif that would comfortably sit within the top ten London subjects.  In the montage we have before and after views of the Bank with three of them revealing the overpowering presence of Baker’s additions.  Next is a rare postcard view of the measured proportions of Soane’s frontage follow by three images of Soane-designed banking halls.  The interior views are based on official photographs from 1894, still in circulation in 1910 when these cards were posted to an address in Maida Vale. Last is a YouTube link to a curiously informal natter about Soane and the Bank - a trifle long-winded but authoritative and informing.