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The Pound in your Pocket
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Bank of England Museum, Threadneedle Street (entrance in Bartholomew Lane), London, EC2R 8AH
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© James Dillon
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- Opened in 1988, the Bank of England Museum recounts the history of the bank and displays the artefacts accumulated since it was created at the end of the seventeenth century to organise the nation’s resources.
The museum’s first room is a detailed replica of the late-eighteenth century banking hall designed by the Bank of England’s original architect, Sir John Soane, which once stood on the spot. Among the exhibits are collections of silver and banknotes and displays on topics such as decimalisation and the euro. A highlight is the huge, ancient ledgers with entries in exquisite handwriting – and few visitors turn down the chance to test the weight of a solid gold bar enclosed in a heavily protected case.
The museum’s other function is to explain the work of the Bank of England today and the current timely – some might say prescient – temporary exhibition tackles the topic of inflation. Along with items including eighteenth-century cartoons highlighting the historical importance of inflation, the exhibition employs interactive displays to make sense of the subject for visitors of all ages who respond to a more hands-on approach to monetary matters. The centrepiece is a hot-air balloon, signifying the economy. Visitors are invited to step into the wicker balloon basket, rest their elbows on its soft, smooth leather rim and chart a stable course, simulating the role of the Bank in keeping the economy steady. It’s harder than you might expect, emphasising the fact that controlling inflation – along with maintaining a stable financial system and confidence in the value of banknotes – is a full-time job for the Bank of England.
You might not want to make a special trip for a multi-sensory explanation of inflation but it’s certainly worth visiting the museum if you find yourself in the area. And for those keen to explore further, the Bank of England will be running its own open day on June 28 as well as participating, as usual, in London Open House in September.
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Details
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Bank of England Museum, Threadneedle Street (entrance in Bartholomew Lane), London, EC2R 8AH
- 020 7601 5491
- Category: Museums & Attractions
- Times: Mon-Fri 10am-5pm (closed public and bank holidays)
- Tube: Bank
