BANK OF ENGLAND GOVERNORSHIP.
The Money Market is well pleased that Mr. Montagu Norman should have consented to accept nomination next April for another year of Governorship of the Bank. For the City has come increasingly to realise the importance of continuity in management and policy of the Bank of England during the exceptionally difficult times through which we are passing. Whether, and if so how soon, we shall return to normal conditions and possibly to the old system of periodical changes in Governors, it is impossible to say. but there can be no question that it must be reckoned among the fortunate incidents of the past decade that during the most difficult period, the Bank of England has had the services of so highly qualified a practical Banker as Mr. Norman. who has won the confidence not only of banking and financial circles here, but of Money Markets all over the world. The City is also glad to note that Sir Ernest Harvey is accepting nomination for a second year of office as Deputy Governor, for it is felt that Mr. Norman as Governor, and Sir Ernest Harvey as Deputy, supported by exceptionally strong men in the chief official positions, represent a strong team at a moment when such strength is urgently required, in viess' Of the many complex financial problems both local and inter- national which have to be handled.
A. -W. K.
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