Planting bulbs and the East Lothian Banking Company scandal

I’ve just finished planting the last of my spring bulbs. Now, for many garden experts, this is a bit late in the day but I like my daffodils and tulips to appear in the Spring as far as possible and not in midwinter, as is happening due to climate change. There’s a certain degree of creativity in planting bulbs, as you know that the combination of what is a rather dull looking object – a daffodil bulb – will combine with the earth to produce firstly a green stem and then a piece of sculpture as the head opens up. Also, you know that when you plant the bulbs and the pansies and polyanthus, a rather bare and forlorn section of the garden – brown earth dotted with plants – will be transformed into an eye-catching and neighbour-praising object looking like this.

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Spring garden (click on all photos to enlarge)

So there is a great deal of satisfaction – and anticipation – to be had in planting bulbs and I always feel better when I’ve emptied out the last bulbs from the previously filled old shoe boxes I have in the garage over summer. I’ve completed one task and can look forward to the transformation in the garden in a couple of months, from bare earth to this.

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Tulip bulbs in Spring

When you are doing research of any kind – academic or personal – there’s a kind of serendipity that ensures that at some point you will come across material that is not relevant to your current research, but is very interesting. As an academic researcher or PhD supervisor, my advice was to leave this well alone, but with personal research, you have time to meander down some alleyways for a while. Recently, I was interviewing the daughter of the owner of a shop in Dunbar in the 1950s about her youthful memories of the shop and she produced a folder that her parents had left with her. Inside the folder were two nineteenth century Scottish bank notes – not your regular Bank of Scotland or Royal Bank of Scotland notes – but notes from the East Lothian Banking Company.

East Lothian Banking Company One Pound front

One pound note (front) issued by the East Lothian Banking Company

East Lothian Banking Company Five pounds front

Five pound note (front) issued by the East Lothian Banking Company

The bank notes’ design reflected the county of East Lothian’s farming and fishing communities. To the modern eye, these notes look like cheques, where the name of the recipient is to be entered, along with the date. These notes, like other 19th century bank notes, were not circulated as bank notes are now, but were issued from a book of notes. The East Lothian Banking Company was set up in 1810 here in Dunbar and its funds came from local merchants and farmers. The records show that the bank did good business for some years and it appointed William Borthwick a very young man at 22 years old as cashier – the equivalent of chief executive today. Borthwick turned out not only to be relatively inexperienced, but to be an embezzler of the banks’ funds and he took off, probably to America, in 1822 with the bank in serious debt. Thus the scandal of the county bank.

Another interesting feature of the bank notes is that (see below) on the reverse of each note, there appears “Five pence” on the one pound note and “One shilling three pence” on the five pund note, which may have been a tax to be paid, although I’ve found it difficult to find out exactly what this represents. Also, the designs on the back of the two notes are different. One the one pound note “GR IV”, presumably referring to King George IV can be seen. As George IV reigned from 1820 to 1830, this note must have been issued in the last years of the bank’s existence. There’s no reference to royalty on the back of the five pound note. As we approach a (mainly) cash society, these notes are a reminder of different times. It should of course be remembered that very few people in East Lothian society in the early 19th century would ever have seen, never mind handled, a five pound note. This was a rich man’s (and it was men in control then) business.

East Lothian Banking Company One Pound Back

Back of a one pound note issued by the East Lothian Banking Company

East Lothian Banking Company Five Pouds back

Back of a five pound note issued by the East Lothian Banking Company

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