Financial Notes
FROM THE TREASURY TO THE CITY.
It is not. surprising that keen interest should have been taken by the City in the appointment of Sir Otto E. Niemeyer, Controller of Finance at the Treasury, to one of the higher positions at the Bank of England. Not only is the Central Banking Institution the pivot of our banking and monetary system and the controller of currency and credit, but its responsibilities in that connection may have been said to have been increased tenfold by the chaotic situation produced in Europe by the Great War, and by the resumption of our responsibilities as a free gold centre, resulting from our return to the gold standard. It is not surprising, therefore, that the Bank of England should be steadily strengthening both its organization and its personnel and in particular that it should have an increasing number of officials who are well acquainted with everything pertaining to international finance and banking.
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