BILL McALLISTER: Grand Caledonian Bank is still standing proud in city
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This is the 175th anniversary of the completion of one of our city centre’s most attractive buildings, which wears its age graciously. It is also the 185th anniversary of the pioneering Caledonian Bank being launched in Inverness, which went on to create the building as its headquarters.
The three-storey, five-bay building which remains such an eye-catcher at 9-11 High Street was until 20 years ago the Bank of Scotland before becoming a pub restaurant, retaining the historic Caledonian name. As you come down Castle Street, the premises, with four tapered Corinthian columns and a first floor balcony, is an impressive sight.
Little wonder that the Inverness Courier of November 23, 1848, commenting on the scaffolding being removed, said: “The front is without doubt the finest of any building in the town”, adding that it was a landmark in Inverness progress. It continued: “The promoters of public buildings that may be contemplated hereafter will endeavour to cope with or surpass it in beauty.”
The pediment – the triangular piece at the peak of the frontage – was created by noted Edinburgh sculptor Alexander Handyside Ritchie and the central figure is Caledonia, on whose right is a figure representing the Ness, beside which is another female form, denoting a stream. Two small figures on the extreme right, rowing a boat, represent Commerce, while on the left is Plenty, pouring out goodies, while a reaper carrying corn plus a shepherd and sheep emphasise the rural nature of the Highlands.
This paper reported 175 years ago that much criticism of the nudity of these figures came in Gaelic from “the good old country wives who congregate on the Exchange to dispose of hens, ducks, butter, eggs firewood and nuts. Perhaps none of them ever saw a piece of sculpture before and the lamentation seems general amongst them that the draperies were not plentifully supplied!”
The two large urns on the first floor balcony have silhouettes of Queen Victoria and Prince Albert.
Mackenzie and Matthews, the building’s architects, from Aberdeen and Elgin, were hailed for their confection.
Today the frontage gleams white, but 175 years ago this paper observed: “The stone of the front building is from the quarries beyond Nairn, of a uniform subdued yellow colour”.
In the 1830s, Scotland had no fewer than 36 banks and Highland aspiration grew for a bank of its own. The Caledonian Banking Company was set up in Inverness in 1838 and a prime figure was John Ross, who made his fortune from West Indian plantations.
Ross, who lived in Godsman’s Walk, Culduthel Road, was a slave owner, later a member of Inverness Town Council and a kirk elder. From his Indies base he organised cash for the Ness Islands to be linked by footbridges, for the Northern Infirmary and the Inverness Lunatic Asylum Fund. When his slaves were freed in 1834, Ross received £10,000 compensation, helping him invest in the Caledonian Bank and become its manager.
The Mackintosh of Mackintosh became the bank’s first chairman and its first offices were in Castle Street. On its banknotes it pioneered a Gaelic phrase for “Land of Mountains, Glens and Heroes”.
It was seen as a much-needed resource. Leading landowners and business people invested and branches were opened as far away as Skye, North Uist, Caithness and Moray, and in 1846 the directors agreed to a new HQ on the High Street.
Beyond its heady early days, however, the bank, however, found difficulty operating with such a limited investment base. By 1900, Scotland was down to 10 banks. A few years later the bigger banks each had over £1 million in notes issued, the Caledonian managing only £141,000.
This year is the 115th anniversary of the Caledonian being swallowed up by the Bank of Scotland.
- Sponsored by Ness Castle Lodges.
