### South African Governor M.H. de Kock (B116) 1 pound banknote A/E ###

M.H. de Kock

Afrikaans / English

Appointed as third Governor of the South African Reserve Bank and served for a total period of 39 years.  He exerted a major influence on economic thought in South Africa and even overseas.  Various innovations were initiated by him, including the creation of a department with the specific task of gathering and processing statistics and undertaking economic research

The years subsequent to the Second World War were characterized at times by large deficits on South Africa's balance of payments.  There was also uncertainty about gold's future and its role in the international monetary system.  He followed a policy of stable economic growth.  During his Governorship in the early sixties, the financial climate was seriously disturbed by political events.  In addition South Africa's monetary system changed from sterling to rand when South Africa became a Republic in 1961 prior to his retirement in 1962.

 Size of notes after printing - 150mm x 85mm

N.B.