19 NOVEMBER 1927, Page 34

Financial Notes

MR. NORMAN'S NINTH YEAR.

A FEW years ago, when Mr. Norman, the Governor of the Bank of England, was nominated for his fifth year of office, some in the City, while holding the Governor in the highest esteem and recognizing also many advantages attaching to continuity of management, were none the less disposed to question the wisdom of breaking through the custom of the Governorship of the Bank being restricted to two years. The late Lord Cunliffe, who was Governor at the time of the out- break of War, held office, of course, for five years, a previously unprecedented period, but the City, which is wedded to ancient customs, has not been prepared wholly to abandon the principle of periodical changes in the Governorship of the Bank.