Operation Fishwas the relocation of British money and gold ingots from theUnited KingdomtoCanadafor safekeeping during theSecond World War.It was the largest known movement of physical wealth in history.[1]
| Operation Fish | |||||
|---|---|---|---|---|---|
| Part ofSecond World War | |||||
 HMSBonaventurewas forced to remain stationary for a time to protect a treasure ship | |||||
| |||||
| Belligerents | |||||
 United Kingdom Canada |
 Germany | ||||
| Casualties and losses | |||||
| 0 ships sunk | |||||
Background
editIn September 1939, the British government decreed that all people living in the UK had to declare their securities with theTreasury.[2]Even before Operation Fish, convoys had been sent with gold and money worth millions ofpoundsto purchase weapons from the United States. One such run involved CommodoreAugustus Agarand his ship, thelight cruiserHMSEmerald.At 23:18 on 3 October 1939,Emeralddropped anchor inPlymouth,England. A short time later, Agar was briefed by Rear AdmiralLancelot Hollandon his mission. The written instructions are below.
Two million pounds in gold bars [GBP138,000,000 in 2023] is to be embarked in each ship to Halifax. A railway truck is expected to be placed alongside each ship about 01.00 October 7. Each truck is expected to contain 148 boxes each weighing 130 lbs. The total number of boxes is numbered Z 298 to Z 741 inclusive. Guards are to be put on each truck on arrival at the ship. Embarkation is to commence about 06.30 or as soon as daylight permits. Adequate steps are to be taken for supervision of each box from unloading from truck to stowage in ship. Finally a receipt is to be forwarded to C in C Western Approaches on the attached form.[3]
On 7 October 1939,Emeraldsailed from Plymouth forHalifax, Nova Scotia,with the gold bullion from theBank of England,bound forMontreal, Quebec,Canada, to be used to pay for American war materials. As this voyage was under the strictest secrecy, the crew were outfitted with "tropical white" uniforms, to confuse German agents. In the company of the two old battleshipsHMSRevengeandHMSResolutionand her sister shipHMSEnterprise,as well as the old cruiserHMSCaradoc,theEmeraldran into some of the heaviest seas that Agar encountered. By the time the convoy reached Halifax, theEmeraldhad lost her ship's boats, rafts, and various depth charges, wires, shackles, and other valuable equipment, as well as her spotter plane, aFairey Seafox.[3]
Winston Churchillformedhis governmentas a guarantee that the Empire could continue the fight if the UK was overrun. With the Empire, he devised a plan to ship British wealth to the safety of Canada.[4]Using their wartime powers, the Churchill government confiscated thesecuritiesthat the British people were forced to register at the beginning of the year, and under the cover of secrecy, moved them to the port ofGreenockin Scotland. Then, men sworn to secrecy loaded the wealth onto HMSEmerald.The ship departed on 24 June 1940 and with an escort of some destroyers sailed to Canada. Again another fierce storm endangered the operation when high seas forced the ships to slow their speed, making them easy targets for any prowlingU-boats.When they finally reachedHalifax,on 1 July 1940, the British treasure was transferred to trains and the gold sent toOttawa,while the securities were shipped to theSun Life Buildingin Montreal.[4]
Another Operation Fish convoy sailed[where?]on 5 July 1940, comprising five ships loaded with $1.7 billion (US$38.16 billion in 2024),[clarification needed]which was the largest movement of wealth in history.[1]Offshore, they met their escort, which included the battleshipHMSRevenge,a cruiser and several destroyers. Trouble arose when one of the convoy ships, a Polish ship, theBatory,loaded with treasure, had engine trouble and had to drop out of the convoy, escorted by onlyHMSBonaventure;the two ships then encountered heavy fog and, because of the dangers of icebergs, came to a halt, making them easy targets for any U-boats that might find them; eventually, repairs were made and both ships were able to make it to Halifax days after the other treasure ships had landed.[1]
Storage
editThe British securities were locked in a specially constructed underground vault that was rushed into existence three storeys beneath theSun Life Buildingin Montreal, and were guarded around the clock by theRoyal Canadian Mounted Police.A persistent rumour that theCrown Jewels of the United Kingdomwere stored there was deliberately spread in Montreal to account for increased activity at the building.[5]The extremely secretive United Kingdom Security Deposit, operating in the vault, arranged for the sale of Britain's negotiable securities on theNew York Stock Exchangeover the next few years to pay for Britain's war expenses. The 5,000 employees of Sun Life never suspected what was stored in their basement,[dubious–discuss]and while unloading the treasure ships, not one crate of the cargo went missing. Even though thousands of people were involved, Axis intelligence agencies never found out about the operation.[6]Hundreds of government accountants and bankers worked tirelessly to catalogue the contents of thousands ofcratestaken off the ships. When they were finished it was determined that $2.5 billion (US$56.11 billion in 2024) had been shipped from the UK to Canada without one gold bar being lost.[1]
Commemoration
editA stone plaque on the outer wall of theMartins Bank BuildingonWater Streetin Liverpool commemorates the gold stored there en route to Canada: "In May 1940 when this country was threatened with invasion part of the nation's gold reserve was brought from London and lowered through the hatch for safe keeping in the vaults ofMartins Bank."[7]
In fiction
editThe 1993 BBC dramaThe Bullion Boysdepicts the 1940 transport of Bank of England gold to Canada viaLiverpool,and a plot by a group of Liverpool dock workers to steal some of it.[8]
Operation Fish features significantly in the 2022 crime novelThe Twyford CodebyJanice Hallett.[9]
See also
edit- Gold reserves of the United Kingdom
- Flight of the Norwegian National Treasury- the transfer of Norway's gold reserves to theUnited Statesvia theUnited Kingdom,to avoid them falling into the hands ofNazi Germany.
- Moscow gold (Spain)– gold reserves sent by Republican Spain to the Soviet Union during theSpanish Civil War
- Romanian Treasure,gold reserves sent (alongside other valuables) by Romania to Russia for safekeeping duringWorld War I,but never returned
References
edit- ^abcdBreuer 2008,p. 62
- ^Breuer 2008,p. 60
- ^abDraper 1979,p. 37
- ^abBreuer 2008,p. 61
- ^Draper 1979,pp. 255–257
- ^Library and Archives Canada 2013
- ^Stone plaque № 7875 in Liverpool
- ^The Bullion BoysatIMDb
- ^Janice Hallett,The Twyford Code,Viper, 2022.
Bibliography
edit- Breuer, William B.(2008).Top Secret Tales of World War II(2008 ed.). Book Sales.ISBN9780785819516.- Total pages: 244
- Draper, Alfred (1979).Operation Fish: The Fight to Save the Gold of Britain, France and Norway from the Nazis(1979 ed.). General.ISBN9780773600683.- Total pages: 377
- Library and Archives Canada(2013)."Hiding British Gold".Library and Archives Canada.RetrievedMarch 22,2013.
External links
edit- Low, Robert (May 8, 2018)."Operation Fish".Bank of Canada Museum.