If the traditional deference of British society is embodied in the crown, the tradition of the British economy – of proud finance and malcontent industry – is embodied in the Corporation of London. Older than parliament, it is the nearest thing the Square Mile has to a local council – which is not that near at all.
The livery companies, freemen and the aldermen mark it out, not to mention a lord mayoralty that has existed since 1189, the year time immemorial technically stopped. That office naturally operates in splendid isolation from City Hall. Then there is ancient treasure stashed away in three venerable vaults: the charitable fund, whose tasks include upkeep of London Bridge; the City fund; and finally the so-called City's Cash, to which the greatest mystery is attached. Last week, a little of that mystery disappeared, when the corporation published accounts which, for the first time, revealed the sum total of assets – to which the likes of the real-life Dick Whittington have contributed – as £1.3bn.
No comments:
Post a Comment