HISTORICAL EVENTS AT THE TIME UNION BANKNOTES WERE USED - SOUTH AFRICA'S TALLEST BUILDING IN 1933.
The Colonial Mutual Building, erected in Durban, was reportedly the highest building in South Africa when it was completed in 1933. At almost 57 m it was a landmark of the 1930's skyscraper age. Below is a description of the building which appeared in the classic book Architecture in South Africa Vol II (1934).Built for the Colonial Mutual Life Assurance Society, it was claimed to be South Africa's highest building, being 182 ft. in height and has thirteen storeys including the basement. The ground floor is devoted to an arcade with shops and the society's offices. The basement has a first-class restaurant with mechanical ventilation fully air-conditioned. The upper floors are occupied as offices.
The bearing capacity of the soil of the site was low, and a reinforced concrete raft foundation was used. The superstructure is of steel framing with brick and stone facing. The floors are of reinforced concrete of a special light design, covered with end-matched jarrah blocks and cork tiling. The main hall floor is covered with india-rubber tiles. The roofs are of Etruscan tiles and short asphalt flats. Ducts were incorporated in the design for pipes and wires.Source: Heritage Portal
HISTORY IN YOUR HANDS
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R 6 500
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Details:
Dimensions in Millimeters: 177 mm x 97 mm
Description:
Dr Johannes Postmus
TERM SERVED IN OFFICE: 1 January 1932 – 30 June 1945
Dr Postmus started his career in 1896 with the Dutch banking institution LedeBoer & Co. in Almelo, in the province of Overijssel. He later joined the Nederlandsche Bank voor Zuid-Afrika headquarters in Pretoria in 1903. In 1905 he was appointed Secretary of the Board. Five years later he was transferred to the Bank’s Inspection Division where he eventually became Chief Inspector. During his career with the Nederlandsche Bank he had a hand in the creation of Ons Eerste Volksbank. He initially served as Director of this institution but after he was appointed General Manager of the Nederlandsche Bank was elected Honorary Director.
Dr Postmus held this position until his appointment as the Reserve Bank’s Deputy Governor with effect from 1 January 1927. On 1 January 1932 he succeeded Dr William Clegg as Governor of the Bank until his retirement on 30 June 1945. In 1926, he served a term as President of the Institute of Bankers in South Africa. He was one of the Reserve Bank’s first Directors, and served as one of three representatives of the commercial banks on the Bank's Board. His first term as board member started on 9 May 1921 but ended on 30 June 1923 when the representation of commerical banks on the Board was terminated by legislation.
Part of Dr Postmus's term of office with the Bank coincided with a turbulent period in South Africa's economic history and he experienced the unfolding drama first-hand, including the vexing question surrounding the return to the Gold Standard and its eventual abandonment. In 1932 he testified before the Select Committee on the Gold Standard and in 1933 he accompanied the Minister of Finance, Adv. N C Havenga, to the World Economic Conference in London as an Advisor.
Dr Postmus was the Chairman of the Financial Committee of the University of Pretoria and in April 1946 was conferred a D.Com (honoris causa) degree by the University of Pretoria. Source: South African Reserve Bank
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