Bank of England Trust Fund for Research in Economics


    To mark the two hundred and fiftieth anniversary of the founding of the Bank of England, the Court of Directors has decided to establish a trust fund with a capital of £100,000 for the promotion of economic research. The fund will be known as the Houblon-Norman Fund, after Sir John Houblon, the first governor of the Bank in 1694, and Mr. Montagu Norman, who retired recently after holding the office of governor for twenty-four years. The income of the fund will be used to award fellowships, probably three a year, to be known as Houblon-Norman Fellowships, for the promotion of research into the working and function of financial and business institutions in Great Britain and elsewhere and the economic conditions affecting them. Grants may also be made toward the expenses of research already in being and to facilitate publication.

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    Bank of England Trust Fund for Research in Economics. Nature 154, 175 (1944).

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