FINANCIAL NOTES
GOVERNORSIUP or. THE -BANK.. OF ENGLAND.
General satisfaction has been expressed iniinancial circle,* at the announcement made last week that the Court of Directors of the Bank of England will, at the General Court next April, recommend to the Proprietors that the present Governor, the Rt. Hon. Montagu Collet Norman, D.S.O., should be re-elected as Governor for the ensuing year. Assum- ing that this recommendation is carried into effect, Mr. Norman will be entering upon his seventh year of office, which consti- tutes quite an unpreeedentedly long Governorship, the nearest parallel being that of the late Lord Cunliffc, who acted as Governor for five years. It must not be supposed from the approval by the City of the proposed re-election of Mr. Norman, however, that a permanent departure from the long- established principle of the Governorship being limited to two years would meet with approval. It is simply that the circum- stances on the one hand arc regarded as quite exceptional and rendering desirable continuity of management for a while longer, and that on the other hand the services rendered by Mr. Norman during his period of office, and his fitness for Ora post, arc also regarded as exceptional.
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