Say what you know about commercial banks in Russia.

Unit twenty one

The Bank of England

Text

After the session on Banking Sector Mr. Hill suggested that in the afternoon the participants should visit the museum of the Bank of England. It was one of the external visits of the Programme.

The museum of the Bank of England is located practically in the building of the Bank, in the City of London. The museum has a lot of exhibits showing the history of the Bank from its foundation in 1694 to its role today as the nation's central bank. Visitors can also see a video on the history of the Bank.

Here is a part of the text of the video:

To understand the role and importance of the Bank better we should learn first how it emerged.

During the seventeenth century banking in England was in the hands of goldsmiths who held deposits, made loans to the mer­chants and the Crown. But even the wealthiest goldsmiths could not carry on a deposit and lending business on the scale the Govern­ment required.

So in sixteen ninety four a joint stock company to raise money for the Government and finance wars was incorporated. It later got to be known under the title " Bank of England".

Although privately owned and financed, the Bank of England de­veloped essentially as a government bank, raising money to finance the needs of the British Government, managing its national debt, printing banknotes and minting coins.

In 1946 the Bank was nationalized and it operates today as the UK's central bank executing monetary policy on behalf of the Government and supervising the markets in one of the world's larg­est and most sophisticated centres.

Besides the Bank has always been a repository of gold...

After seeing the video the participants of the Programme made a round of the museum and asked Mr. Hill a few questions.

Participant: Excuse me, Mr. Hill. May I ask you a question?

Mr. Hill: Why, certainly.

Participant: One day I heard the nickname of the Bank. Old Lady. Such a funny name! Where does it come from?

Mr. Hill: Nobody knows exactly. Different explanations are given. Many of us associate this nickname with an old cartoon. This cartoon shows the Prime Minister asking an old lady sitting on the money-chest marked " Bank of England" for gold coins.

Participant: So, that's it! Very fascinating indeed!

Words and expressions

to suggest	[s@'³ est]	предлагать
He suggests that they should visit the museum		Он предложил им посе­тить музей.
afternoon		вторая половина дня (после 1200)
in the afternoon		днем
to be located		находиться, размещаться
the City (of London)		Сити
lot		партия
a lot of...		много
exhibit	[Ig'zIbIt]	экспонат
to show (showed, shown)		показывать
foundation		основание
sixteen ninety four		1694 г.
nation		нация, народ
central		центральный
visitor		посетитель
importance		важность
to emerge	[I'mý ³ ]	появляться, возникать
century		век
the seventeenth century		семнадцатый век
goldsmith		ювелир
to hold (held, held)		держать, сдерживать
to hold deposits		держать депозиты
to make (made, made) loans to somebody		предоставлять кредиты кому-либо
crown		корона
the Crown		английская корона, знак качества
wealth	[welT]	богатство
wealthy		богатый
wealthiest		самый богатый
to carry on		вести, проводить
to carry on business		вести дела
to carry on a deposit business		заниматься депозитами
to carry on «i lending business		заниматься кредитованием
scale		масштаб
on the scale		в масштабе, в объеме
on the scale the Govern­ment		в объеме, установленном правительством
required	[rI'kwaI@d]	требуемый
joint stock company		акционерное общество
to raise money		собирать деньги, изыски­вать средства
war	[wþ ]	война
to incorporate	[In'kþ p@reIt]	регистрировать
The company was incor­porated in 1694		Компания была основана в 1694 г.
It got to be known-		Это стало известно
title		заголовок
under the title		под заголовком, как
although	[þ l'Dou]	хотя
essentially		существенно
to manage		управлять, руководить
debt	[det]	долг
to manage debts		управлять долгами
to print		печатать
banknote		банкнота
to mint coins		чеканить монеты
to execute a policy		проводить политику
on behalf of somebody	[bI'h¸ f]	от имени кого-либо
to supervise something/ somebody		руководить чем-либо/кем-либо
large		большой
market		рынок
largest		самый большой
sophisticated	[s@'fIstIkeItId]	изощренный, замыслова­тый
the most sophisticated martket		самый богатый рынок
repository of gold		хранилище золота
to make a round of...		совершать обход по
nickname		прозвище
old		старый
funny		смешной
explanation		объяснение
to associate		ассоциировать
cartoon	[k¸ 'tü n]	карикатура
prime minister		премьер-министр
money-chest		сундук с деньгами
fascinating	['f{sIneItIÎ ]	прекрасный, очарователь­ный, зачаровывающий

 

Exercises

1. Read the following:

• the Bank of England the nation's central bank	• in the City of London one of the external visits
the museum of the Bank	on behalf of the Government
the history of the Bank	the session
the building of the Bank	the programme
	the markets
	the nickname

 

He suggested that the participants should go to the museum of the Bank.

2. Underline the answers true to the text:

• When did Mr. Hill suggest that the group should visit the museum of the Bank of England?	Before the session on Banking Sector. After the session on Banking Sector Diring the session on Banking Sector
• Was this visit on the Programme?	Yes, it was No, it wasn't It isn't quite clear
• Where is the museum of the Bank of England located?	In the very centre of the Bank of England. Rather far from the Bank of England. Practically in the building of the Bank of England.
• When was the Bank founded?	In 1694. In 1794. In 1894.

 

• What video can visitors see at the museum of the Bank of England?	On the history of the City. On the history of London. On the history of the Bank.
• What original material does the Unit quote?	The video. The audio recording. The lecture of Mr. Hill.
• What did the participants do then?	They asked the lecturer a few questions. They asked Mr. Hill a few questions. They asked the Group Leader a few questions.

 

3. Underline the verbs and translate the sentences into Russian:

To understand the role and importance of the Bank better we should learn first how it emerged.

In 1694 a joint stock company to laise money for the Govern­ment and finance wars was incorporated.

This Bank is privately owned and financed.

It raises money to finance the needs of the British Government.

It manages the national debt.

It prints banknotes and mints coins.

In 1946 the Bank was nationalized.

It operates today as the UK's central bank.

It executes monetary policy on behalf of the Government.

It supervises the markets in London.

Besides it has always been a repository of gold.

Sum up what the film said about the history of the Bank of England.

5. Complete the dialogue:

— Excuse me, Mr. Hill, may I ask you.

— Why, ...

— One day... Old Lady... funny. Where... from?

— Nobody... Different... are given. Many of us... nickname... old cartoon. This cartoon shows... marked... for gold coins.

— So, that's it! ... fascinating...

Repeat where the nickname of the Bank conies from.

7. Make sentences:

• Example	Mr. Hill suggested that the participants should visit the museum of the Bank of England.
see the video film make a round of the museum make one of the external visits

 

8. Make complete dialogues:

• Example ü stare — государственный

— Excuse me, may I ask you a question? — Why, certainly. — Where does the nickname of the Bank come from?

 

Is the Bank a joint stock company now?

Is it a private company now?

Is it a state owned bank?

Is it nationalized?

When was it nationalized?

9. Role play:

Imagine you are an English lecturer. Read a short lecture on the history of the Bank of England.

Say what you know about the Central Bank of Russia.

Unit twenty two

The underground

Text

After their visit to the museum of the Bank of England the Group returns to the hotel by underground.

Londoners call their underground train network " the tube". It covers the whole city. It's a fast, convenient and easy way to travel. Stations are never far apart, especially in central London. Each of the eleven lines has its own name and a distinctive color to aid rec­ognition.

There are two kinds of tube tickets: single and return tickets sold at tube stations. Besides they sell Travelcards for the tube, buses and the Docklands Light Railway, or DLR. Travelcards can be bought at underground stations, Travel Information Centres, British Rail sta­tions and selected newsagents. Travelcards are valid either for one day or seven days.

At the tube station the participants buy single tickets and come up to the electronic gate. They put the tickets, magnetic strip down, into the slot machine on the right side of the gate. The gate opens and after removing the ticket each passes the gate. Then they go down by moving stairs.

David: Keep you tickets until your journey is completed.

Sergei: Why is it necessary?

David: Well, you see, sometimes inspectors check them. Be­sides you have to leave many stations in the same way as you get in. You should put the ticket into the slot machine again to have the gate open. Otherwise you won't be able to leave the station.

Sergei: I see. Thank you.

Ivan: This line on the wall is green. I suppose this corridor will take us to the green line.

David: You are quite right. We are to take the green line to get to Baker Stieet station.

Vladimir: By the way, can I get to Piccadily Circus by this line?

David: Let me see, no, I'm afiaid not. You'll have to change trains at Charring Cross.

Vladimir: Thank you I'll remember it. Charring Cross.

David: Be carefull. Don't be lost

Vladimir: Thank you. I have got a map of London and there is the Underground map here too. I have heard so much about Piccadily. And I like the song about it. One of our pop stars sings it. The song is fantastic. And 1 should see the street of Picadilly with my own eyes!

Words and expressions

the underground		метро
to go by underground		ехать на метро
at the underground sta­tion		станция метро
to call		называть
network		сеть
to cover		покрывать, охватывать
whole	[houl]	весь
the whole city		весь город
fast		быстрый
convenient	[k@n'vÖ nj@nt]	удобный
distinctive		отличительный, характер­ный
colour	['кö l@]	цвет
to aid recognition		помогает узнавать
single ticket		билет в одну сторону
return ticket		билет туда и обратно
Travelcard		единый билет
bus		автобус
Docklands Light Railway (DLR)		рельсовая дорога в Док-ленд (без водителя, рабо­тающая только с помо­щью компьютеров)
selected newsagent		отдельные газетные ки­оски
to be valid for...		действовать в течение..
gate		ворота, турникет
to have the gate open		чтобы турникет открылся
magnetic strip		магнитная полоса
slot machine		автомат (с прорезью для монет и жетонов)
on the right side of		справа от
on the left side of		слева от
moving stairs		эскалатор
to keep (kept, kept)		держать
journey	['³ ý nI]	поездка
to complete		заканчивать
complete		полный
to check		проверять
otherwise	['ö D@waIz]	иначе
You won't be able to... to change trains		Вы не сможете делать пересадку
You'll have to change trains.		Вам нужно сделать пере­садку
to be lost		потерять дорогу, заблу­диться
map		карта
pop star		эстрадная звезда
eye	[aI]	глаз
to see something with one's own eyes		видеть что-либо своими собственными глазами

 

Exercises

1. Read the following:

• the underground the tube at the tube station on the right side of the gate

• in the same way otherwise either for one or seven days by the way

 

• Put the ticket into the slot machine.

By the way, can I get to Piccadilly Circus by this line?

There is the Underground map here too.

I like the song about it.

2. Underline the answers true to the text:

• By what means of transport did the gioup return to the hotel?	By taxis. By underground. By bus.
• What do Londoners call their underground?	The tube. Metro. Network.
• Does it cover the whole city?	No, it doesn't. Yes, it does. It covers only the central pen of London.
• How many lines are there in the London tube?	Eleven. Twelve. Ten.
• How many types of tube tickets can be bought?	One, only single tickets. Two, single and return tickets. One, only Travelcards.
• Where are Travelcards used?	For buses only. For the tube only. For railway only. For all the above means of transport.
• Where can Travelcards be bought?	Only at tube stations. Only at Travel Information Centres. Only at rail stations. At all the above points.

 

3. Insert articles:

Londoners call their underground train network " ... tube". It covers... whole city. It's... fast, convenient and easy way to travel. Each of... eleven lines has its own name and... distinctive colour to aid recognition.

4. Insert prepositions:

There are two kinds... tube tickets: single and return tickets sold... tube stations. Besides, they sell Travelcards... the tube, buses and DLR. Travelcards can be bought... underground stations, Travel Information Centres, British Rail stations and some newsagents. Travelcards are valid either... one day or seven days.

5. Underline the verbs and translate the sentences into Russian:

Usually there are a few counters selling tickets. They sell single and return tickets. There are usually a few electronic gates at the tube stations. You should put the ticket, magnetic strip down, into the slot machine on the right side of the gate. The gate opens. You should remove the ticket then and pass the gate. You should keep ticket until the journey is completed. When you get to the destination you should put the ticket again into the slot machine and remove it. Otherwise the gate will not open.

ü counters — окошко

ü destination — пункт назначения

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