As new £1 coin launches, we look back at the Bank of England
Today, 28 March 2017, the new 12-sided £1 coin enters circulation. Today also begins the slow replacement of the £1 coin many have come to love which has been in circulation since 21 April 1983. And as we bid goodbye to the pound that has seen generations of history we look back at the central bank of the United Kingdom, the Bank of England, and its iconic structure in central London.
The Bank of England then (Collage: The London Picture Archive) and now flanked by gleaming skyscrapers (Peter Imbong).
Occupying the block surrounded by Threadneedle Street, Prince's Street, and Lothbury Lane in the City of London, the Bank of England has been under the hand of many architects throughout its long history.
The Neo-Classical Grade I listed building was originally designed by architect George Sampson in 1732. The current building covers 1.6 ha., but the original Sampson structure was actually only 80 feet wide (25m) and 300 feet long (90m).
Architect Sir Robert Taylor extended the façade beginning 1765 . Then over the period of 1788-1833, architect and Surveyor, Sir John Soane, completed the original buildings--this includes the high perimeter wall which encases the whole compound.
In the 1920s architect Sir Herbert Baker was tasked to redesign everything but the perimeter wall. The result was a seven storey building with a three storey basement. Meanwhile, Oscar Faber was appointed structural and civil engineer. This rebuilding lasted for approximately 18 years and saw many a historic events including the beginning of World War II in 1939.
The Royal Exchange (Background left) in Bank then (Collage: The London Picture Archive) and now (Peter Imbong)
The area on which the Bank of England stands, known as Bank junction, also holds curious stories. As seen from the map below, six roads connect to it, and below it lies Bank Station. And because of this, the junction has been known to be a dangerous one for motorists, pedestrians, and cyclists.
According to the Evening Standard, 34 cyclists and 31 pedestrians were injured between 2011 and 2015 in Bank junction. In June 2015, an employee of PwC was heading to work during the morning rush hour when she was killed by a heavy goods vehicle.
As such, in 2016 the City of London voted to ban cars, taxis, and lorries from Bank junction between the hours of 7am and 7pm beginning April of this year. The aim, they say, is to create a safer space for pedestrians and cyclists.
Learn more about the Bank of England here:
