The British Overseas Banks and Development Finance in Africa after 1945

Business History

Volumn 33, Issue 3, 1991, Pages 157-176

  Bostock, Frances ^a  

^a UNIVERSITY OF READING   (United Kingdom)

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EID: 84933484029     PISSN: 00076791     EISSN: 17437938     Source Type: Journal    
DOI: 10.1080/00076799100000106     Document Type: Article

References (74)

1. P.L. Cottrell, ‘The Coalescence of a Cluster of Corporate International Banks, 1855-1875’, in this volume;
2. A.J.S. Baster, The Imperial Banks (1929);
3. idem, The International Banks (1934);
4. F.H.H. King, The Hongkong Bank in Late Imperial China, 1964-1902 (The History of the Hongkong and Shanghai Banking Corporation, Vol. 1) (Cambridge, 1987);
5. G. Jones, Banking and Empire in Iran (The History of The British Bank of the Middle East Vol. 1) (Cambridge, 1986);
6. S.J. Butlin, Australia and New Zealand Bank (1961);
7. C. Mackenzie, Realms of Silver (1954);
8. J.A. Henry, The First Hundred Years of the Standard Bank (1963).
9. S. Strange, Sterling and British Policy (1971), p. 166.
10. G. Jones, ‘Banks as Multinationals’, in G. Jones (ed.), Banks as Multinationals (1990), p. 31.
11. K. Phylaktis, ‘Banking in a British Colony: Cyprus 1878-1959’, in Business History, Vol. XXX (1988), p. 425.
12. G. Jones, ‘Competitive Advantages in British Multinational Banking’, in Jones, Banks as Multinationals, p. 50.
13. J. Crossley and J. Blandford, The DCO Story (1975); Jones, ‘Competitive Advantages’, pp. 35-6.
14. See, for example, W.T. Newlyn, Money in an African Context, (Studies in African Economics; Nairobi, 1967), Ch.4.
15. PRO, C0852/135/1, minute by Sir H. Moore, 28 Oct. 1938.
16. See for example, PRO, CO852/554/7, Treasury memo of Jan. 1944, and minute by
17. W.A. Lewis, 2 Feb. 1944.
18. See, for example, PRO, CO 852/554/1, minutes by W.A. Lewis, 1 June 1944 and 16 Aug. 1944, and by G.P.W. Lamb, 5 June 1944.
19. Ibid., J. Fisher to S. Caine, 15 May 1944, enclosing banking statistics.
20. Percentages derived from statistics for Barclays DCO (March 1939) and all reporting banks for Sept./Dec. 1943 in Ibid.
21. Ibid., minute by A. Emanuel, 5 Oct. 1944, reporting a meeting between various officials and Julian Crossley of Barclays DCO.
22. See, for example, Newlyn, Money in an African Context, Ch.4.
23. PRO, CO852/1579, Information on existing avenues of loan finance for development being compiled for colonial government finance officers, 1955;
24. see also, for the history of CDC, D.J. Morgan, The Official History of Colonial Development (1980), Vols. 1-5.
25. Morgan, Colonial Development, Vol.4, p. 99.
26. Crossley and Blandford, DCO Story, p. 140; Barclays Bank (D.C. and O.), A Bank in
27. Battledress (private circulation, 1948), p. 153.
28. PRO, CO852/554/1, minute by A. Emanuel, 5 Oct. 1944.
29. Barclays Bank Archives (hereafter, BBA), 38/209, Sir Julian Crossley Diaries, 23 Nov. 1944.
30. Ibid., 30 Nov. 1944, 26 Feb. 1945, 11 April 1945.
31. Ibid., 27 Dec. 1944; Jones, ‘Competitive Advantages’, p. 47.
32. G. Jones, ‘Competition and Competitiveness in British Banking 1918-1971’, in G. Jones and M. Kirby (eds.), Competitiveness and the State (Manchester, 1991).
33. BBA, 38/209, Sir Julian Crossley Diaries, 16 Feb. 1944; Bank of England Archives, G1/157, File of Barclays Development Co., Memorandum of O.E. Niemeyer, 6 Dec. 1944.
34. PRO, CO852/1049/3, Circular Telegram from Secretary of State for the Colonies to the various Colonial Governments, 27 April 1946.
35. BBA, 38/209, Sir Julian Crossley Diaries, 15 Oct. 1945.
36. Standard Bank of South Africa, Report and Accounts for the year ended March 1947, Chairman’s Statement; National Bank of India, Report and Accounts for the year ended December 1948, Chairman’s Statement.
37. Grindlays Bank Archives, ANZ, Meeting of Directors of the National and Grindlays Finance and Development Corporation Ltd., 11 Oct. 1966; G. Tyson, 100 Years of Banking in Asia and Africa (1963), pp. 191-2.
38. BBA, 38/209, Sir Julian Crossley Diaries, 19 Nov. 1947.
39. Standard Chartered Archives (hereafter SCA), The Standard Bank Group, London Newsletter, No.2, Sept. 1968, pp. 14-15.
40. SCA, BAC S/90, BBWA History Files, Fry’s Digests of BBWA Board Minutes, private board minute of 29 Jan. 1947; Richard Fry, Bankers in West Africa, (1976), p. 168.
41. W.T. Newlyn and D.C. Rowan, Money and Banking in British Colonial Africa (Oxford, 1954), pp. 127-8;
42. E.E. Jucker-Fleetwood, Money and Finance in Africa (1964), pp. 156-7.
43. SCA, BAC S/90, BBWA History Files, Fry’s Digests of BBWA Board Minutes, minute of 9 Oct. 1946.
44. Ibid., private board minutes of 29 Jan. and 26 March 1947.
45. Ibid., board minute of 10 March 1948.
46. PRO, CO852/1049/3, minute by K.E. Robinson, 3 June 1948;
47. see also, minutes by R.W. Newsam and R. Newton of 26 and 28 April 1948 respectively.
48. PRO, CO852/1579, Information on Existing Avenues of Loan Finance for Development being Compiled for Colonial Government Finance Officers, 1955.
49. Barclays Bank (D.C. and O.) 22nd Ordinary General Meeting, 19 Dec. 1947, Chairman’s Statement.
50. PRO, CO 852/1049/3, minute by A. Emanuel, 1 Feb. 1949.
51. Ibid., circular letter from W.G. Goodenough to Barclays (DCO) shareholders, 17 Dec. 1945.
52. PRO, CO852/1579, Information on Existing Avenues of Loan Finance for Development being Compiled for Colonial Government Finance Officers, 1955: BODC; SCA, The Standard Bank Group, London Newsletter, No.2, Sept. 1968, pp. 14-15.
53. Barclays Bank (D.C. and O.) 21st Ordinary General Meeting, 20 Dec. 1946, Chairman’s Statement.
54. Barclays Overseas Development Corporation, Statements of Accounts, Directors’ Report, to be presented at the Barclays (D.C. and O.) 23rd Ordinary General Meeting, 14 Dec. 1948.
55. Barclays Bank (D.C. and O.) 23rd Ordinary General Meeting 1948, Chairman’s Statement.
56. PRO, CO852/1049/3, BODC, List of New Business arranged since the List given in Letter of 4 Nov. 1948.
57. Barclays Overseas Development Corporation, Reports and Accounts.
58. Barclays (D.C. and O.), Annual Reports and Accounts, especially 1967.
59. Ibid., 1969 and 1970.
60. Grindlays Bank Archives, ANZ, Meeting of Directors of the National and Grindlays Finance and Development Corporation Ltd., 11 Oct. 1966.
61. National Bank of India (subsequently National & Grindlays Bank), Reports of the Directors and Balance Sheets.
62. Fry, Bankers, p. 234.
63. Ibid., pp. 234-5.
64. SCA, BAC S/90, BBWA History Files, Fry’s Digests of BBWA Board Minutes post 1945, passim.
65. Ibid., minute by A. Emanuel, 1 Feb. 1949.
66. PRO, CO852/1579, minute by A. Emanuel, 31 Aug. 1955.
67. Morgan, Colonial Development, Vol.4, pp. 92-5, 220.
68. Ibid., pp. 96-8.
69. Ibid., Vol.2, pp. 368-9.
70. Ibid., Vol.4, p. 194.
71. Ibid., Vol.2, p. 367.
72. Ibid., Vol. 4, p. 100: comment by Colonial Secretary in the House of Commons on 17 July 1953.
73. Phylaktis, ‘Banking in a British Colony’, p. 425.
74. Newlyn and Rowan, Money and Banking, pp. 138-40.