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1939 - 1960

 

War and Peace: Banking in a Keynesian World

"Somewhere in Belgium"
The branch system and the teamwork involved in day-to-day banking formed bonds between the men of Royal Bank that extended into the armed forces and overseas. The Royal Bank Magazine, the staff newsletter, did an excellent job of keeping enlisted staff in touch with the bank and with each other. This photo of eight Royal Bank staff, who somehow gathered together as friends and colleagues during the final liberation of Belgium in 1945, illustrates the close bonds and sense of family that have always existed amongst Royal Bank staff.


Ration coupon banking
In 1942, the Canadian government imposed wartime rationing for certain foods and gasoline. After several months of operation, the Ration Administration found their system was too cumbersome and turned to the Canadian banks to set up a system of ration coupon banking through their branch systems. A Canadian Bankers Association committee under the chairmanship of Royal Bank's A.B. Jamieson had a system in place by March 1943. Merchants deposited ration coupons in Canadian banks which in turn issued cheques to the merchants, permitting them to purchase new supplies of rationed items. The staff at Verdun, Quebec branch, sorting ration coupons in 1944.

 

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12/07/2004 13:31:27